Guoco : Announcement - Announcement of Unaudited Financial Results for the Second Quarter and Half Year Ended 31 December 2016 of Subsidiary - GL Limited

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ANNOUNCEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE SECOND QUARTER AND HALF YEAR ENDED 31 DECEMBER 2016 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 19 JANUARY 2017 ITS UNAUDITED FINANCIAL RESULTS FOR THE SECOND QUARTER AND HALF YEAR ENDED 31 DECEMBER 2016.

GL Limited ("GL"), a subsidiary of Guoco and listed on Singapore Exchange Securities Trading Limited ("SGX-ST"), has announced on 19 January 2017 the unaudited financial results of GL and its subsidiaries (the "GL Group") for the second quarter and half year ended 31 December 2016. The summary of the unaudited financial results of the GL Group for the second quarter and half year ended 31 December 2016 together with the comparative figures of the previous corresponding financial periods are provided below:

GL Limited‌ Summary of the unaudited financial results of the GL Group for the second quarter and half year ended 31 December 2016

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

Second quarter ended	Second quarter ended	Half year ended	Half year ended
31/12/2016	31/12/2015	31/12/2016	31/12/2015
US$m	US$m	US$m	US$m
Revenue‌	86.7	114.7	184.5	229.8
Cost of sales	(34.0)	(45.3)	(71.5)	(91.6)
Gross profit	52.7	69.4	113.0	138.2
Profit before tax	17.3	25.4	33.3	63.2
Income tax expense	(3.8)	(5.5)	(8.8)	(12.0)
Profit for the period	13.5	19.9	24.5	51.2
Profit attributable to:
Owners of the Company	13.6	19.9	24.6	51.3
Non-controlling interests	(0.1)	-	(0.1)	(0.1)
Profit for the period	13.5	19.9	24.5	51.2

Dividend

No ordinary dividend has been declared for the second quarter and half year ended 31 December 2016.

Remarks: Details of the unaudited financial results of the GL Group for the second quarter and half year ended 31 December 2016 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, 19 January 2017

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 and Mr. Tan Lim Heng as Non-executive Directors and Mr. Volker Stoeckel, Mr. Roderic N. A. Sage and Mr. David Michael Norman as Independent Non-executive Directors.