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(Hong Kong, 22 July 2008) - Synergis Holdings Limited
("Synergis" / the "Group") (stock code: 02340) announces its annual
results for the year ended 31 March 2008.
For the year under review, the Group’s
consolidated revenue was HK$430.5 million, an increase of 17.1% over last year.
Operating profit increased 26.1% to HK$32.1million. Profit attributable to
equity holders of the Company increased by 24.5% from the previous year to HK$26.3
million, or earnings of 7.9 HK cents per share.
Professor Woo Chia-Wei, Non-executive
Chairman of Synergis, said, "Given the strong cash position of the
Group, the board of directors (the "Board") of the Company has recommended the
payment of a final dividend of 5.2 HK cents per share for the year ended 31
March 2008. Together with the interim dividend of 2.3 HK cents per share
already paid, total dividends for the year will amount to 7.5 HK cents per
share."
Commenting on the business operations, Mr. C.
H. Fan, Managing Director of Synergis, said, "During the year, Synergis
continued to develop and grow its management portfolio in Hong Kong and expand its client base on the mainland of China. The Group was not only successful
in maintaining its high contract renewal rate (over 90%), but also able to
attract new corporate and institutional clients to its facility management
portfolio, allowing the Group to continue to broaden its client base. These
include The Hong Kong Academy of Medicine, The Hong Kong Federation of Youth Groups and Wai Yuen Tong Medicine Co. Ltd."
"On the mainland of China, the Group continued
to invest in and develop its management know-how and infrastructure. Apart from
joint ventures that focus on the provision of quality property and facility
management services, the Group has successfully established good relationship
with a number of prominent real estate developers, such as the Shanghai Bund de
Rockefeller Group Master Development Co. Ltd. (developer of the landmark "RockBund"
project in Shanghai) and Orient Overseas (International) Limited, by providing
them with consultancy services during the development stage of their large
scale projects."
"Next door in Macau, with a rising population of
expatriate professionals and investors, there is increased demand for quality
property and property management services, especially for high-end and
investment grade properties. Synergis has established a foothold there, and has
begun providing consultancy services to The San You Development Co. Ltd. The Group’s strategy is to target those developers that understand and value quality
property management services."
"Synergis is the leading independent property
and facility management company founded and based in Hong Kong. While the
property and facility management industry has not yet benefited significantly
from the rapid appreciation in property values during the past year, we believe
that the macro environment will continue to work in our favor as Hong Kong and
the mainland of China continue to attract real estate investments from Hong Kong
and foreign investors, and as Chinese developers focus on building their
branding. This holds true regardless of short term volatility in property markets
and mainland government policies aimed at managing short term excesses. Our
management team remains focused on providing quality property and facilities
management on a consistent basis and target clients who understand and value
that focus."
"On 26 June 2008, Synergis and Hsin Chong
Construction Group Ltd. ("HCCG"), a company in construction and related
businesses, jointly announced that HCCG had conditionally agreed to acquire a
controlling stake in Synergis, which may lead to mandatory unconditional cash
offers for Synergis shares and share options under The Codes on Takeovers and
Mergers and Share Repurchases. The Board welcomes the interest HCCG has shown,
and believes it reflects HCCG’s confidence in Synergis’ business prospects.
Synergis is the only property and facility management company listed on the
Main Board of the Hong Kong Stock Exchange (the "Stock Exchange"). With a
listing status on the Stock Exchange, we believe the Group has better
competitive advantage over the other service providers as clients are more
inclined to appoint service provider with good corporate governance, internal
control and management transparency." Mr. Fan concluded.
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