Kowloon Development Company Limited provided earnings guidance for the six months ended June 30, 2014. For the period, the company expects to record a substantial decrease in the amount of net profit for the six months ended 30 June 2014 as compared to that for the corresponding period in 2013. Such expected decline is mainly attributable to (1) the decrease in recognised profit from the sale of properties of the Group and (2) the decrease in the revaluation gains from the Group's investment properties for the six months ended 30 June 2014 as compared to that for the corresponding period in 2013.

Although the Group expects to record a substantial decrease in the amount of net profit for the first half of 2014, except for unforeseeable circumstances, the Board expects that the Group's underlying net profit, which excludes revaluation gains from the Group's investment properties, for the second half of 2014 is expected to be improved as compared to that for the corresponding period in 2013 in view of profits from the Group's certain property development projects are anticipated to be recognised later this year.