TIDMAGP

RNS Number : 2155O

Asian Growth Properties Limited

05 February 2016

5 February 2016

ASIAN GROWTH PROPERTIES LIMITED

Performance Update - Positive Profit Alert

The board of directors (the "Board") of Asian Growth Properties Limited (the "Company" and together with its subsidiaries, the "Group") (AIM Stock Code: AGP), the Hong Kong based China property development and investment company, wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that based on information currently available, the Group is likely to record an increase in net profit for the year ended 31 December 2015 as compared to that for the year ended 31 December 2014. This is mainly attributable to (i) the increase in net fair value gains on the Group's investment properties (after related tax) for the year ended 31 December 2015 as compared to that for the year ended 31 December 2014; and (ii) the gain on disposal of an indirectly-owned subsidiary (the "Subsidiary") which was interested in the land at Fo Tan, Hong Kong. Please refer to the announcement in respect of the disposal of the Subsidiary made by the Company on 1 October 2015 for more information.

As the Company is still in the process of finalising its annual results for the year ended 31 December 2015, the information contained in this announcement is only based on the Company's preliminary assessment of the consolidated management accounts of the Group, which have not been reviewed and audited by the Company's independent auditor. The Company expects to announce its audited annual results for the year ended 31 December 2015 before the end of March 2016.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

For more information, please contact:

   Lu Wing Chi                            Tel: +852 2828 6363

Executive Director

Asian Growth Properties Limited

   Richard Gray                            Tel: +44 207 886 2500

Andrew Potts

Panmure Gordon (UK) Limited

(Nominated Advisor)

This information is provided by RNS

The company news service from the London Stock Exchange

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