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C&T announces 2017 Interim Results
Hong Kong, August 14, 2017 - Leading locally listed information technology (“IT”) software and services company, Computer And Technologies Holdings Limited (C&T Holdings or the “Group”, Stock Code: SEHK 00046) announced today its unaudited interim results for the 6-month period ended June 30, 2017.
The Group’s overall revenue slightly dropped by HK$2.4 million, or 2.0% to HK$118.2 million (2016: HK$120.6 million). The gross profit of the Group also dropped by HK$5.8 million, or 8.3% to HK$63.7 million (2016: HK$69.5 million). The drop was primarily due to delay in projects’ completion and increased delivery costs of the Group’s Solutions Services business.
On the other hand, the Group recorded an increment in other non-operating incomes during the reporting period. In particular, the Group’s Application Software business in PRC successfully received HK$3.2 million (2016: HK$0.1 million) tax refund for some of value added tax (“VAT”) previously paid. Besides, the Group’s income tax expense also reduced by HK$1.7 million, or 50.2% to HK$1.7 million (2016: HK$3.5 million) due to the reduction in the assessable profits and the reversal of dividend withholding taxes which previously provided.
With the abovementioned factors, the Group’s consolidated net profit attributable to shareholders recorded a slight increase of 0.8% to HK$22.8 million (2016: HK$22.6 million). The basic earnings per share increased to 9.42 HK cents (2016: 9.36 HK cents) or improved by 0.6% compared with same period last year.
In view of the sustained healthy financial position and to celebrate the Group’s 25th anniversary of its incorporation, the Board recommended the distributions of an interim dividend of 7 HK cents and a special dividend of 3 HK cents (2016: interim dividend of 7 HK cents) per ordinary share.
“Although there are uncertainties affecting the global economy, the Group remains optimistic about the Asia-Pacific markets backed by moderate economic growth in PRC,” said Mr. Ng Cheung Shing, Chairman of the Group. “Looking ahead to the second half of 2017, the Group will continue to keep focus on the development of its software and solutions services portfolio and look for acquisition opportunities in the region to accelerate its business growth,” concluded Mr. Ng.
More information is available at the 2017 Interim Results announcement published by the Group on August 14, 2017.
About C&T Holdings
Computer And Technologies Holdings Limited ("C&T Holdings" or the "Group", Stock Code: SEHK 00046) is a leading IT software and service provider in Asia involved in the design, delivery and operation of total IT solutions for the Government departments and corporate enterprises. Building on its successful track records, the Group provides comprehensive IT services from system and network integration, IT solutions implementation and software development, enterprise application software, on-line e-Government and e-Business platforms, as well as business process outsourcing services. For more information, please visit our website at www.ctil.com.
Ms. Emma Wong
Tel : (852) 2217 1511
Fax : (852) 2503 8400