Guoco : Announcement of Audited Financial Results for the Year Ended 30 June 2020 of Subsidiary - GuocoLand Limited

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ANNOUNCEMENT OF AUDITED FINANCIAL RESULTS

FOR THE YEAR ENDED 30 JUNE 2020

OF SUBSIDIARY - GUOCOLAND 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, GUOCOLAND LIMITED, WHICH HAS ANNOUNCED ON 24 AUGUST 2020 ITS AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 30 JUNE 2020.

GuocoLand Limited ("GuocoLand"), a subsidiary of Guoco and listed on Singapore Exchange Securities Trading Limited ("SGX-ST"), has announced on 24 August 2020 the audited financial results of GuocoLand and its subsidiaries (the "GuocoLand Group") for the year ended 30 June 2020. The summary of the audited financial results of the GuocoLand Group for the year ended

30 June 2020 together with the comparative figures of the preceding financial year are provided below:

GuocoLand Limited

Summary of the audited financial results of the GuocoLand Group for the year ended 30 June 2020

(Note: The expressions "Company", "$"and "cents" mean "GuocoLand", "Singapore dollars" and "Singapore cents" respectively.)

		Year ended			Year ended
		30/06/2020	30/06/2019
		$'000			$'000
Revenue	941,841	926,957
Cost of sales	(641,757)	(631,102)
Gross profit	300,084			295,855
Profit before tax	158,6980	309,020
Tax expense	(68,652)	(21,404)
Profit for the year	90,0460			287,616
Profit attributable to:
Equity holders of the Company	114,069	255,674
Non-controlling interests	(24,023)	31,942
Profit for the year		90,046			287,616

Dividend

The board of directors of GuocoLand has recommended a first and final dividend of 6 cents (2019: 7 cents) per ordinary share.

Remarks: Details of the audited financial results of the GuocoLand Group for the year ended 30 June 2020 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).

The audited financial results of the GuocoLand Group for the year ended 30 June 2020 will be consolidated in the group accounts of Guoco after adjustments in accordance with the accounting principles generally accepted in Hong Kong.

By Order of the Board

Stella Lo Sze Man

Company Secretary

Hong Kong, 24 August 2020

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; Mr. Roderic N. A. SAGE, Mr. David Michael NORMAN and Mr. Lester G. HUANG, SBS, JP as Independent Non-executive Directors.