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Value Partners Group Ltd Comments On H1 2013 Earnings Guidance

Thursday, 25 Jul 2013 06:25am EDT 

Value Partners Group Ltd announced that the Group expects to report a substantial decrease of 96% in its consolidated net profit attributable to equity holders of the Company to about HKD3.3 million for the first half of 2013 from HKD88.2 million in the first half of 2012. The substantial decline is mostly attributable to the net fair value losses of the Group’s seed capital investments and investments in its own funds. Seed capital investments are made by the Group to seed certain amount of capital to new funds which is considered necessary during the initial fund launch phase. Excluding the net fair value losses, the Group’s fund management business remained robust with an increase of 42% in its operating profit (before other gains/losses), which rose to HKD126.1 million for the first half of 2013 from HKD88.8 million in the first half of 2012. The increase was mainly attributable to an increase in management fee and performance fee. During the first half of 2013, the Group generated a net cash inflow of HKD126.6 million from operating activities. 

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19 Dec 2014