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C&T announces 2019 Interim Results
Hong Kong, August 16, 2019 - Leading Hong Kong listed information technology (IT) software and service company, Computer And Technologies Holdings Limited (C&T or the Group, SEHK 00046) announced today its unaudited interim results for the six months ended June 30, 2019.
The Group’s overall revenue improved slightly by HK$3.0 million, or 2.3% to HK$133.8 million (2018: HK$130.8 million). The growth was mainly attributed to the continuous increase in revenue generated by the Group’s Application Services business, offset by the decrease in revenue generated by the Group’s Solutions and Integration Services business.
In line with the increase in revenue, the gross profit of the Group increased by HK$1.7 million, or 2.4% to HK$75.0 million (2018: HK$73.3 million). Moreover, due to increase in fair value gain from financial assets, the total non-operating incomes increased by HK$1.4 million, or 19.6% to HK$8.8 million (2018: HK$7.4 million).
The Group’s overall expenses increased by 10.2% to HK$47.7 million (2018: HK$43.3 million) as compared with the same period last year. Such increase was mainly in staff costs attributed to the additional resources in strengthening the Group’s overall management and business development as well as the sales and support team.
With the abovementioned, the Group’s consolidated net profit attributable to shareholders reduced slightly by 4.7% to HK$28.8 million (2018: HK$30.2 million). The basic earnings per share also dropped to 11.66 HK cents (2018: 12.47 HK cents).
In view of a sustained healthy financial position, the Board declared the distribution of an interim dividend of 9 HK cents (2018: 9 HK cents) per ordinary share for the six months ended June 30, 2019.
“US-China trade war brings Hong Kong’s economic expansion to near a standstill, which will remain uncertain in the near future. The management believes the market will continue to be affected by cautious local economic sentiment amid a challenging external environment. However, the Group remains vigilant for new opportunities to improve our business. We remain steadfast in our commitment in research and development and focused on new prospects that can gear the Group to cater for the needs of our customers,” stated Mr. Ng Cheung Shing, Chairman of the Group.
For details of the Group’s 2019 Interim Results, please refer to the official announcement.
About C&T Holdings
Computer And Technologies Holdings Limited (C&T, 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