Guoco : Announcement of Unaudited Financial Results for the First Quarter Ended 30 September 2019 of Subsidiary - GL Limited

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ANNOUNCEMENT OF UNAUDITED FINANCIAL RESULTS

FOR THE FIRST QUARTER ENDED 30 SEPTEMBER 2019

OF SUBSIDIARY - GL LIMITED

THIS ANNOUNCEMENT IS MADE BY GUOCO GROUP LIMITED ("GUOCO") PURSUANT TO PART XIVA OF THE SECURITIES AND FUTURES ORDINANCE AND RULE 13.09(2)(a) OF THE RULES GOVERNING THE LISTING OF SECURITIES ON THE STOCK EXCHANGE OF HONG KONG LIMITED TO PROVIDE SHAREHOLDERS OF GUOCO WITH FINANCIAL INFORMATION ON A LISTED SUBSIDIARY OF GUOCO, GL LIMITED, WHICH HAS ANNOUNCED ON 24 OCTOBER 2019 ITS UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 30 SEPTEMBER 2019.

GL Limited ("GL"), a subsidiary of Guoco and listed on Singapore Exchange Securities Trading Limited ("SGX-ST"), has announced on 24 October 2019 the unaudited financial results of GL and its subsidiaries (the "GL Group") for the first quarter ended 30 September 2019. The summary of the unaudited financial results of the GL Group for the first quarter ended

30 September 2019 together with the comparative figures of the previous corresponding financial period are provided below:

GL Limited

Summary of the unaudited financial results of the GL Group for the first quarter ended 30 September 2019

(Note: The expressions "Company" and "US$m" mean "GL" and "United States dollars in million" respectively.)

		First quarter ended		First quarter ended
		30 September 2019		30 September 2018
		US$m		US$m
				(Re-presented)
Continuing operations
Revenue	95.5	95.9
Cost of sales	(42.1)		(39.6)
Gross profit	53.4		56.3
Profit before tax	17.8	22.2
Income tax expense	(5.8)		(5.7)
Profit from continuing operations, net of tax	12.0	16.5
Discontinued operation
Loss from discontinued operation, net of tax	-		(0.3)
Profit for the period	12.0	16.2
Profit attributable to:
Owners of the Company	12.0	16.2
Non-controlling interests	-		*
Profit for the period		12.0		16.2

* Amount less than US$0.1m

Dividend

No dividend has been declared for the first quarter ended 30 September 2019.

Remarks: Details of the unaudited financial results of the GL Group for the first quarter ended 30 September 2019 are accessible at SGX-ST's website (http://www.sgx.com) and are also posted by Guoco as an overseas regulatory announcement on the websites of The Stock Exchange of Hong Kong Limited (http://www.hkexnews.hk) and Guoco (http://www.guoco.com).

By Order of the Board

Stella Lo Sze Man

Company Secretary

Hong Kong, 24 October 2019

As at the date of this announcement, the board of directors of Guoco comprises Mr. Kwek Leng Hai as Executive Chairman; Mr. Tang Hong Cheong as President & CEO; Mr. Kwek Leng San as Non-executive Director and Mr. Volker Stoeckel, Mr. Roderic N. A. Sage and Mr. David Michael Norman as Independent Non-executive Directors.