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China State Construction International Holdings Limited Announced its 2014 Annual Results

2015-03-20
(20 March 2015) China State Construction International Holdings Limited (“CSCI” or “The Group”, Stock Code: 03311) announced its 2014 annual results today. For the year ended 31 December 2014, the Group’s audited profit attributable to the owners of the Group was HK$3,457 million, representing an increase of 25.7% as compared to last year. The revenue was HK$34,440 million, representing an increase of 26.2% as compared with the same period of last year. Basic earnings per share increased by 25.5% to HK89 cents. The board of directors recommends the payment of a final dividend of HK15.00 cents per share and the payment of a full year dividend increased 23.8% to HK26 cents.

In 2014, the construction business of the Group in Hong Kong and Macau marked its breakthrough in expansion again. The Group further streamlined the structure of its business in Mainland China and adjusted its regional management for effective expansion of investment scale and upgrade of competitiveness. During the year, the Group had undertaken a number of new investment projects. In 2014, investment business in Mainland China was expanded with 17 subsidiaries in 25 key cities and the structure of its scaled operation was further refined. Through adjustment of management structure and integration of internal and external resources, Far East Global Group Limited (“FEG”, stock code: 00830) orderly expanded to the overseas market. 

For 2015, Mr. Zhou Yong, chairman of the Group, indicated that the global economic growth will remain volatile, prospects of Hong Kong economy remains cautious in general with favourable conditions for development. During the year, though there will be a significant decrease in large civil engineering projects implemented by the government, more housing projects will be launched. In particular, the Group will pay high attention to various large-scale pre-designed engineering projects to be launched in the second half of the year. Economy of the Mainland China is expected to maintain stable growth. However, due to cyclical fluctuations and structural contradictions, there will be numerous uncertainties. New urbanisation and integration of regional economy will bring significant investment demand for urban infrastructure facilities, public facilities and residential buildings. Therefore, the general prospects economic development remains optimistic.

Mr. Zhou also said that in order to achieve rapid growth in our investment business and grasp the market opportunities from the new trends, CSCI explored and developed new business models while promoting the established investment model. On one hand, the Group expanded the scope and forms of its existing investment model based on the actual situation of regional markets and projects. On the other hand, the Company conducted research and trial on the PPP model in accordance with the prevailing policy environment. FEG will further promote its brand and market expansion. In addition to implementing projects with high margin in Hong Kong, Macao and North America, it will continue to explore business opportunities in overseas and investment in Mainland China in order to achieve its strategic transformation.

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