NEW WORLD DEPARTMENT STORE CHINA LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
PROFIT ALERT
This announcement is made by New World Department Store China Limited (the "Company") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).
Based on a preliminary assessment by the Company's management on the unaudited consolidated management accounts of the Company, the board of directors (the "Board") of the Company wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that it is expected that the profit attributable to equity holders of the Company for the year ended 30 June 2015 would decrease substantially by approximately 85% as compared to the year ended 30 June 2014. Such decrease in the profit attributable to equity holders of the Company is mainly attributable to (i) an estimated loss on one-off provision for stores closure and (ii) an estimated impairment loss on property, plant and equipment.
Without taking into account the aforesaid one-off loss on stores closure provision and the impairment loss on property, plant and equipment for the year ended 30 June 2015, the profit attributable to equity holders of the Company for the year ended 30 June
2015 would decrease by approximately 50% as compared to the year ended 30 June
2014.
The information contained in this announcement is only based on the preliminary assessment by the Board in accordance with the unaudited consolidated management accounts of the Company up to the date of this announcement, and is not based on any information or figures which have been audited or reviewed by the Company's auditors and may be subject to possible adjustments. Shareholders and potential investors are advised to read carefully the annual results announcement of the Company for the year ended 30 June 2015 which is expected to be announced in September 2015.
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By order of the board of
Hong Kong, 21 August 2015
As at the date of this announcement, the non-executive Directors are Dr. Cheng Kar- shun, Henry, Mr. Au Tak-cheong and Ms. Ngan Man-ying, Lynda; the executive Directors are Dr. Cheng Chi-kong, Adrian and Mr. Cheung Fai-yet, Philip; and the independent non-executive Directors are Mr. Cheong Ying-chew, Henry, Mr. Chan Yiu-tong, Ivan, Mr. Tong Hang-chan, Peter and Mr. Yu Chun-fai.
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