kowloon development co ltd (34) Snapshot

Kowloon Development Company Limited reported audited consolidated cash flow results for the year ended December 31, 2012. For the year, the company reported net cash from operating activities of HKD 408,647,000 compared to net cash used in operating activities of HKD 2,324,471,000 a year ago. Additions to fixed assets and properties were HKD 221,279,000 compared to HKD 221,574,000 a year ago.

Kowloon Development Company Limited announced that Ms. Ng Chi Man, currently an Executive Director, will be re-designated as a Non-executive Director of the Company and will resign as a member of the Executive Committee of the Company with effect from 1 April 2013. Ms Ng Chi Man has been an Executive Director and a member of the Executive Committee of the Company since January 2002 and December 2002 respectively. Ms Ng is responsible for the development of corporate strategies, corporate planning and general management of the Company. She is also a director of both Polytec Holdings International Limited and Intellinsight Holdings Limited, all being the substantial shareholders of the Company.

Kowloon Development Company Limited reported consolidated earnings results for the year ended December 31, 2012. For the year, the company reported turnover of HKD 2,555,824,000 compared to HKD 1,755,293,000 a year ago. Profit from operations was HKD 1,905,580,000 compared to HKD 1,498,622,000 a year ago. Profit before taxation was HKD 2,147,571,000 compared to HKD 1,759,584,000 a year ago. Profit attributable to shareholders of the company was HKD 1,886,254,000 or HKD 1.64 basic and diluted per share compared to HKD 1,526,385,000 or HKD 1.33 basic and diluted per share a year ago. The board of directors of the company recommended the payment of a final dividend of HKD 0.36 per share for the year ended December 31, 2012 compared to HKD 0.33 per share paid a year ago. The final dividend will be payable on 17 July 2013 to shareholders whose names appear on the register of members of the company on 9 July 2013, subject to the approval of shareholders at the annual general meeting.