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Financial Highlights |
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| Six Months Ended 30 June, 2015 | |||||||||
| 2015 | 2014 | Changes (%) | |||||||
| Revenue (HK$,000) | 197,767 | 156,744 | +26.2 | % | |||||
| Gross Profit (HK$,000) | 76,783 | 65,043 | +18.1 | % | |||||
| Gross Profit Margin | 38.8 | % | 41.5 | % | |||||
| Profit Attributable to Owners of the Company (HK$,000) | 18,380 | 13,296 | +38.2 | % | |||||
| Basic EPS (HK cents) | 1.73 | 1.23 | +40.7 | % | |||||
Freetech Road Recycling Technology (Holdings) Limited (“Freetech”, or the “Group;” stock code: HK.6888), a leading and fast-growing asphalt pavement maintenance service provider, announced its interim results for the six months ended 30 June, 2015 (the “Period”).
During the Period, the Group’s operating revenue was approximately HK$197.8 million, representing an increase of approximately 26.2% year-on-year. Total profit attributable to owners of the Group was approximately HK$18.4 million, rising approximately 38.2% year-on-year. The Group completed 1.5 million square metres of APM services, growing 21.7% year-on-year. Those figures indicate that the Group remains a leading service provider using "Hot-in-Place" recycling technology in the APM industry of PRC.
Mr. Sze Wai Pan, Chairman of Freetech Road Recycling Technology said, “Looking ahead, our Group will benefit from the government’s policies and the positive development prospects for the environmental protection sector. Freetech Smart Road Recycling Engineering Investment Limited, a joint venture established by Freetech and China Ocean Shipping (Group) Company (“COSCO”), one of the world's shipping leaders, recently successfully completed the capital injection to Tianjin Expressway Maintenance Company Limited. This will improve our Group’s competitiveness and overall market position in the business of road maintenance in China.”
About Freetech Road Recycling Technology (Holdings) Limited (Stock Code: HK.6888)
Freetech Road Recycling Technology is the asphalt pavement maintenance (“APM”) service provider renowned in the sector for its Road Doctor brand with patented Hot-in-Place Recycling Technology as well as the manufacturer and seller of a wide range of APM equipment. As of 30 June 2015, the Group owned 108 registered patents and had 6 pending patent applications in Hot-in-Place Recycling Technology and related equipment. The Group has also established ten joint ventures and associates and appointed twelve franchisees across China including Hunan, Inner Mongolia, Jiangsu, Fujian, Xinjiang and Guangdong in order to expand its customer base across the country.
