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GZI Transport Announces 2005 Interim Result Profit of HK$172.5 million, up 33.2%

Date: 2005-09-23
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 GZI Transport Limited ("GZI Transport" or the "Group") [HKSE: 1052] today announces its unaudited interim results for the six months ended 30 June 2005 .

 

With the continuous growth of majority of the Group’s expressways and bridges and improved performance of certain class I highways and bridges, in the first half of 2005, the Group recorded a 33.2 per cent increase in profit attributable to shareholders of HK$172.5 million as compared with the same period in 2004. Basic earnings per share was 15.48 cents. Return on shareholders’ funds had also increased from 3.8 per cent in the first half of 2004 to 4.9 per cent when compared with the same period of last year or a growth rate of 29 per cent. The Board of Directors of GZI Transport has resolved to declare an interim dividend for 2005 of 5.0 cents per share.

 

The Group’s toll highways are mainly concentrated in Guangzhou and Pearl River Delta Region. With the gradual implementation of CEPA and the formation of "9+2" Pan Pearl River Economic Zone, the economic development in Guangdong Province and Pearl River Delta Region will be procured. The expedited economic growth has directly motivated the growth of tall highway traffic volume. As the highway networks in Guangdong Province are progressively upgraded in recent years, the traffic volume of certain projects other than expressway of the Group has continued to decline though the traffic volume and income of expressway projects have shown a rapid growing trend,. The Group focused on the core of toll management. In order to increase the throughput of highway network, the inter-road network toll collection system had already been implemented in Northern Ring Road, GNSR Expressway and Xian Expressway and that implementation in Humen Bridge will be completed at the end of the year..

 

For future strategies and prospects, the Group will continue strengthening the toll management of operational projects, strictly controlling the budget and reducing operation costs. It will also tighten the budgetary control on projects under construction, actively and cautiously invest in expressway projects located in the Pearl River Delta Region, and selectively invest in quality toll highway projects outside Pearl River Delta Region with development potential. By increasing its investment in toll expressways, the Group believes that will deliver better return to the shareholders.

 

About GZI Transport Limited

 

The Group’s toll road portfolio is consisted of expressways, bridges and national highways mainly located in Guangdong Province. Northern Ring Road, Guangzhou Northern Second Ring Expressway, Humen Bridge and Shantou Bay Bridge are expressways and bridges located inside Guangdong Province, while Guangshen, Guangshan, Guangcong Section I and II, Guanghua and Qinglian are national highways connecting traffic hub of major cities inside Guangdong Province and inter-provincial traffic between Guangdong, Hunan and Jiangxi Provinces. Xian Expressway and Xiang Jiang Bridge II are located outside Guangdong Province. Currently, except Guangzhou Western Second Ring Expressway, all of the Group’s toll roads and bridges are operating and generating toll revenue.

 

For enquires, please contact:
GZI Transport LTD
Grace Li (Tel: 2865 2205 Fax: 2865 2126)

 

 

Average daily toll traffic volume of toll highways and bridges



Average daily toll
traffic volume (vehicle)
For the six months
ended 30th June

Weighted average toll fare
per vehicle (Rmb)
 
For the six months
ended 30th June



2005



2004



Change



2004



2005



Subsidiaries

















Guangshen Highway


30,559



131,959



-4.4%



5.93



5.93



Guangshan Highway


22,584



24,633



-8.3%



10.25



13.00



Guangcong Highway Section I


12,552



14,093



-10.9%



12.92



5.93



Guangcong Highway Section II
& Provincial Highway 1909


21,018



18,409



14.2%



7.87



7.49



Guanghua Highway


11,745



10,025



17.2%



8.15



7.94



Xian Expressway


26,245



20,822



26.0%



11.88



11.55



Xiang Jiang Bridge II


5,951



4,383



35.8%



8.77



9.57



Total


130,654
GZI Transport Announces 2005 Interim Result Profit of HK$172.5 million, up 33.2%



124,324
GZI Transport Announces 2005 Interim Result Profit of HK$172.5 million, up 33.2%



5.1%
GZI Transport Announces 2005 Interim Result Profit of HK$172.5 million, up 33.2%









Associated Companies & Jointly Controlled Entity 

Humen Bridge


41,531



37,322



11.3%



42.68



43.00



Northern Ring Road


128,426



123,796



3.7%



12.52



11.76



Qinglian Highways


17,064



20,128



-15.2%



20.91



17.74



Shantou Bay Bridge


9,534



13,023



-26.8%



36.15



32.64



GNSR Expressway


41,703



25,154



65.8%



17.75



18.74



Total


238,258
GZI Transport Announces 2005 Interim Result Profit of HK$172.5 million, up 33.2%



219,423
GZI Transport Announces 2005 Interim Result Profit of HK$172.5 million, up 33.2%



8.6%
GZI Transport Announces 2005 Interim Result Profit of HK$172.5 million, up 33.2%









 

  

 

 

 

 

 

 

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