August 12, 2014

Hong Kong Aircraft Engineering Company (HAECO) reports 2014 interim results

The HAECO Group reported an attributable profit of HK$283m for the first six months of 2014. This compares with a profit of HK$359m for the equivalent period in 2013. Earnings per share decreased by 21.2% to HK$1.70. Turnover increased by 65.6% to HK$5,337m, with the acquisition of TIMCO accounting for 61.8% of the increase. The Group continued to invest in order to expand its facilities and technical capabilities and to improve and widen the range of services it can offer to customers. Total capital expenditure during the first half of 2014 was HK$3,259 m (including expenditure on the acquisition of TIMCO of HK$2,942m). Capital expenditure committed at the end of June was HK$997m.

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