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Yuexiu Transport Infrastructure Announces 2019 Interim Results

Date: 2019-09-03
View Count: 29

Profit for the period rose by more than 35% year on year

The Company seeks opportunities to invest in quality projects


Yuexiu Transport Infrastructure Announces 2019 Interim Results

On August 28 2019, Yuexiu Transport Infrastructure Limited (“Yuexiu Transport Infrastructure” or the “Company”) announced its 2019 interim results in Hong Kong.

 

For the six months ended 30 June 2019 (the “period under review”), the Company’s revenue rose by 0.7% year on year to RMB1,381 million. Profit attributable to shareholders increased by 37.3% year on year to RMB635 million. Basic earnings per share was RMB0.3796. The board of directors proposed an interim dividend of HK$0.18 per share for the first half of 2019, representing a year-on-year increase of 20.0%.

Financial Highlights:

For the six months ended 30 June

2019

2018

Change

Revenue (RMB ’000)

1,380,910

1,371,008

0.7%

Profit attributable to shareholders (RMB ’000)

635,070

462,423

37.3%

Basic earnings per share (RMB)

0.3796

0.2764

37.3%

Interim dividend per share (HK$)

0.18

0.15

20.0%

 

Mr. Li Feng, Chairman of Yuexiu Transport Infrastructure, said, “In the first half of 2019, the Company recorded good financial results again. Despite the complicated global economic environment, the Company can rely on its existing high-quality projects and constantly optimize its asset portfolio to achieve good financial results, indicating the correctness and forward-looking of the Company’s core strategy, firm expansion and reinforcement of the business of expressways. “Yuexiu Transport Infrastructure” is one of the three core businesses of Guangzhou Yue Xiu Holdings Limited (“Yuexiu Group”) and the key to the latter’s steady business performance. Therefore, Yuexiu Group will continue to support Yuexiu Transport Infrastructure’s development. In the future, the Company will actively participate in the projects covered by the state’s plan for the development of the Guangdong-Hong Kong-Macao Greater Bay Area (the “Greater Bay Area”). It will also seek opportunities for mergers and acquisitions in central China. These all will enable the Company to optimize asset distribution as well as income structure, and enhance its total assets and profitability.”

 

Mr. Li Feng concluded, “The Company needs to figure out the way of becoming an asset management company with toll expressways as the underlying assets. Specially, the concept of asset management should be incorporated when delivering operational management. Meanwhile, appropriate underlying assets of good quality must be chosen when we insist on growing the scale as well as enhancing the quality of toll roads which are our principal business. By considering the limited concession periods of toll expressways, we must keep searching for new investment opportunities of significant value so that assets of longer concession periods can be injected on a consistent basis. By doing so, the sustainability of the Company’s business can be assured. All these will help the Company to adjust the pace of resource allocation and reach the balance between return and risk as well as short-term and long-term benefits. The Company has gained positive results through direct and indirect funding, and the usage of both onshore and offshore fund-raising instruments of different categories in the past. Our core competitiveness of debt restructuring must be retained in order to deliver a more optimal way of asset-liability matching. Finally, it is necessary that the Company should enhance the overall capability of operational management, and create a better yield for shareholders through precision marketing, cost saving and constant improvement of efficiency.”


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