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CSCI (3311.HK) Announced its 2018 Annual Results

2019-03-22
(22 March 2019) China State Construction International Holdings Limited (“CSCI” or “The Group”, Stock Code: 03311) announced its 2018 annual results today. For the twelve months ended 31 December 2018, the revenue was HK$55,626 million, representing an increase of 10.9% as compared with the same period of last year. In which, profit from core business was HK$5,324 million, represents a year-on-year increase of 5.0%. The Board proposed a final dividend of HK12 cents per share. Together with the interim dividend of HK15 cents per share, total dividends for the year amounted to HK27 cents per share. Payout ratio maintained at 30%.


In 2018, the international political and economic situation was complex and changeable, the global economic expansion was weakened with the rise in trade protectionism and significant increase in risks. The US economy maintained its growth momentum under the stimulus of tax cuts and full employment has boosted the inflation level with the Fed being raised interest rates four times during the year. The European economy recovered slowly and policy space constrained. The Chinese economy is in a period of slowing growth and structural adjustment. In the short run, there has been change in stability with risk in its economic operation, but there is no change of direction for its positive trend in the long run.


This year, the Group has called for “progress with prudence, the precedence of efficiency, heritage and innovation, and the priority of quality” as its operating principles. We made pragmatic and prudent efforts and sought solid results in business development amidst complex and changing economic and market conditions. In adherence to the development strategy of “project construction and infrastructure investment as dual-core business drivers” and in close tandem with the pace of national developments in the new era, we were constantly innovating our business and management models while effectively addressing risks and challenges with the advantage afforded by the connectivity of our internal and external resources, in a move to drive qualitative business development.


Looking forward to 2019, global economic growth has slowed down with the expansion momentum has weakened. Trade tensions and financial deterioration have been the main risks facing the economic outlook. The stimulation effect from US tax cuts have gradually weakened, and the negative impact of rising interest rates on the economy has gradually emerged. The number of US interest rate hikes may decrease, but the Fed's contraction process will continue. China's short-term economic growth is under pressure, but the market is stable with strong foundation, large space, sufficient post-energy and thereby the future prospects are bright. The Chinese economy has been in a period with strategic opportunities for a long time. The Group will pay close attention to macroeconomic and industry market trends so that it could formulate forward-looking business strategies in proactive response to changes in external business conditions.


Economic recovery in Hong Kong and Macau will continue in a positive trend. However, the investment sentiment in private housing in Hong Kong has turned skeptical, and the boom in the building construction market has slowed slightly. The ambitious development plans such as "Lantau Tomorrow Vision", "New Territories Brownfield" and "Revitalization of Industrial Buildings" proposed in the Hong Kong Chief Executive's Policy Address will bring vigorous development opportunities. Macau is expected to launch a series of government projects including a new reclamation area and “post-19,000 units” public housing construction, injecting new vitality into the construction market. The prospects for gambling and private projects are promising. 


China's mainland economy is facing downward pressure. The state has proposed macroeconomic policies to strengthen countercyclical adjustments, further increasing fiscal stimulus, significantly expanding the scale of local special bonds as well as increasing new infrastructure investment and filling shortcomings in order to form an important support for stable growth and stable investment. The infrastructure investment market in mainland will recover from the bottom. The monetary policy environment with reasonable liquidity will also ease the financing pressure in Mainland China, and the industry's capital situation will be improved gradually


Underpinned by the business strategy of “big market, big clients and big project” and the business philosophy of “unwavering focus on the high-end market and provision of high quality services”, China State Construction Development (830.HK, former Far East Global) will conduct effective brand promotion and market development, While consolidating the advantages of the Hong Kong and Macau market, the North American market integrates its business structure, concentrating its advantageous resources and striving for greater achievements. The United Kingdom and Australian markets are doing well in project performance and product supply management, summing up experience and expanding the market share of supply contracts. The operation management business continued to maintain a good momentum of development and achieve greater value creation.

Project List

Central-WanChai Bypass-Tunnel (Causeway Bay Typhoon Shelter Section)
Central-WanChai Bypass-Tunnel (Causeway Bay Typhoon Shelter Section)

HongKong-Zhuhai-Macao Bridge Hong Kong Link Road
HongKong-Zhuhai-Macao Bridge Hong Kong Link Road

Chek Lap Kok - Passenger Terminal Building
Chek Lap Kok - Passenger Terminal Building

Details Design & Construction of Sheng Shui Slaughterhouse
Details Design & Construction of Sheng Shui Slaughterhouse

Construction of UC Hong Kong Centeral Library at Causeway Hong Kong
Construction of UC Hong Kong Centeral Library at Causeway Hong Kong