Guoco : Announcement - Announcement of Unaudited Financial Results for the Third Quarter and Nine Months Ended 31 March 2019 of Subsidiary - GL Limited

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ANNOUNCEMENT OF UNAUDITED FINANCIAL RESULTS

FOR THE THIRD QUARTER AND NINE MONTHS ENDED 31 MARCH 2019

OF SUBSIDIARY - GL LIMITED

THIS ANNOUNCEMENT IS MADE BY GUOCO GROUP LIMITED ("GUOCO") PURSUANT TO PART XIVA OF THE SECURITIES AND FUTURES ORDINANCE AND RULE 13.09(2)(a) OF THE RULES GOVERNING THE LISTING OF SECURITIES ON THE STOCK EXCHANGE OF HONG KONG LIMITED TO PROVIDE SHAREHOLDERS OF GUOCO WITH FINANCIAL INFORMATION ON A LISTED SUBSIDIARY OF GUOCO, GL LIMITED, WHICH HAS ANNOUNCED ON 26 APRIL 2019 ITS UNAUDITED FINANCIAL RESULTS FOR THE THIRD QUARTER AND NINE MONTHS ENDED 31 MARCH 2019.

GL Limited ("GL"), a subsidiary of Guoco and listed on Singapore Exchange Securities Trading Limited ("SGX-ST"), has announced on 26 April 2019 the unaudited financial results of GL and its subsidiaries (the "GL Group") for the third quarter and nine months ended 31 March 2019. The summary of the unaudited financial results of the GL Group for the third quarter and nine months ended 31 March 2019 together with the comparative figures of the previous corresponding financial periods are provided below:

GL Limited

Summary of the unaudited financial results of the GL Group for the third quarter and nine months ended 31 March 2019

(Note: The expressions "Company" and "US$m" mean "GL" and "United States dollars in million" respectively.)

		Third quarter ended			Third quarter ended			Nine months ended			Nine months ended
		31/03/2019	31/03/2018			31/03/2019			31/03/2018
Continuing operations		US$m			US$m			US$m			US$m
Revenue		73.4	74.3			264.4			259.4
Cost of sales		(35.9)	(29.8)			(111.8)			(104.7)
Gross profit		37.5			44.5			152.6			154.7
Profit before tax		2.4	37.0			47.3			78.1
Income tax expense		(4.9)	(5.3)			(16.6)			(14.8)
Profit/ (loss) from continuing operations,		(2.5)			31.7			30.7			63.3
net of tax
Discontinued operation
Loss from discontinued operation, net of tax		(0.8)			(7.8)			(1.6)			(10.4)
Profit/ (loss) for the period		(3.3)	23.9			29.1			52.9
Profit / (loss) attributable to:
Owners of the Company		(3.3)	24.0			29.1			53.0
Non-controlling interests		*	(0.1)			*			(0.1)
Profit/ (loss) for the period		(3.3)			23.9			29.1			52.9

*Amount less than US$0.1m

Dividend

No ordinary dividend has been declared for the third quarter and nine months ended 31 March 2019.

Remarks: Details of the unaudited financial results of the GL Group for the third quarter and nine months ended 31 March 2019 are accessible at SGX-ST's website (http://www.sgx.com) and are also posted by Guoco as an overseas regulatory announcement on the websites of The Stock Exchange of Hong Kong Limited (http://www.hkexnews.hk) and Guoco (http://www.guoco.com).

By Order of the Board

Stella Lo Sze Man

Company Secretary

Hong Kong, 26 April 2019

As at the date of this announcement, the board of directors of Guoco comprises Mr. Kwek Leng Hai as Executive Chairman; Mr. Tang Hong Cheong as President & CEO; Mr. Kwek Leng San as Non-executive Director and Mr. Volker Stoeckel, Mr. Roderic N. A. Sage and Mr. David Michael Norman as Independent Non-executive Directors.