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00119 POLY PROPERTY
RTNominal down1.280 -0.010 (-0.775%)
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15/01/2020 11:00

Poly Property (00119) expects 60% increase in year net

[ET Net News Agency, 15 January 2020] Poly Property Group Co., Limited (00119) said it
is expected that the group will record an increase in net profit of not less than 60% for
the year ended 31 December 2019, as compared to HK$2.24 billion for the corresponding
period in 2018.
The expected increase is primarily attributable to the recognition of profit of a
development project in Hong Kong. The net profit, however, is primarily affected by an
expected provision of approximately RMB800 million for Guizhou projects due to a decrease
in the average selling price of carparks in Guizhou district in the second half of 2019.
(RC)

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