Agile Group Holdings posts 23.3 percent growth in profits during 2018
HONG KONG: Agile Group Holdings Limited has announced a net profit of RMB 8.35 billion for the year ended December 31, 2018, which is 23.3 percent higher than the profit of RMB 6.78 billion in the previous year.[the_ad id="31605"]The earnings per share (EPS) clocked in at RMB 1.835 for 2018 as against EPS of RMB 1.552 in 2017. Agile Group Holdings Limited declared a final cash dividend of 50 HK cents taking full year dividend to 100 HK Cents, a notification issued to Singapore Exchange (SGX) noted.
In 2018,the accumulated pre-sales value of the Group including joint ventures and associates, together with that of real estate projects managed by the Group and sold under the brand “Agile”, amounted to RMB 102.67 billion, representing an increase of 14.5% when compared with last year.
During the year, the Group’s revenue was RMB 56.145 billion, representing an increase of 8.8% when compared with last year. The recognised sales of property development business was RMB 52.488 billion, representing an increase of 6.5% when compared with last year. The revenue from property development business and diversified businesses accounted for 93.5% and 6.5% respectively.
During the year, the overall gross profit margin and net profit margin of the Group were 43.9% and 14.9% respectively, representing an increase of 3.8 percentage points and 1.8 percentage points respectively when compared with last year.
During the year, the Agile Group’s revenue from property management, hotel operations, property investment and environmental protection businesses increased by 65.3%, 5.5%, 13.5% and 199.8% respectively when compared with last year, providing stable income for the Group.
In response to the “Three-year Plan”, the Agile Group Holdings was dedicated to expanding its nationwide presence through strategically acquiring 46 new land parcels in multiple city clusters by means of tender, auction, listing-for-sale and acquisition during the year. The total planned Gross Floor Area (GFA) of the new land parcels was 11.11 million sq.m., of which the Group’s total attributable planned Gross Floor Area (GFA)was 9.09 million sq.m.
The total consideration of the new land parcels was RMB 42.6 billion, and the consideration to be paid by the Group was RMB 29.4 billion. As at 31 December 2018, the Group had an aggregate land bank with a total planned Gross Floor Area (GFA)of 36.23 million sq.m. in a total of 65 cities. Among these, 20 cities are the Group’s newly explored markets.
During the year, the spin-off and separate listing of A-Living on the Main Board of Hong Kong Stock Exchange was completed. The revenue of A-Living was RMB 3.376 billion, representing an increase of 91.8% when compared with last year. The gross profit margin and net profit margin were38.2% and 24.0% respectively.
Profit attributable to shareholders was RMB 801 million, representing an increase of 176.5% when compared with last year, demonstrating strong financial performance.