Ground Properties Company Limited announced that based on a preliminary assessment of the unaudited consolidated management financial statements of the Group and the information currently available to the Company, the interim results of the Group for the six months ended September 30, 2014 are expected to record an increase in loss by over 150% as compared with that of the corresponding period in 2013 amounting to approximately HKD 13.2 million. During the Period, the Group recorded an overall increase in turnover primarily as a result of the significant increase in sales of telecommunication equipment and products with low profit margin by over 200% but such increase was partially offset by the decrease in rental income from the Group's investment properties of approximately HKD 5.0 million as the Group is still in the process of seeking new tenants for its investment properties upon the expiry of the previous tenancy agreement during the Period. However, the overall gross profit remained relative stable.

Despite such increase in turnover, the Group is still expect to register an increase in net loss for the Period as compared to the corresponding period in 2013, which was mainly attributable to: (i) a substantial increase of approximately HKD 22.9 million in share-based compensation costs mainly due to the grant of share options on 19 June 2014; and (ii) the interest payment of approximately HKD 5.8 million on banking facilities and promissory note but those effects were partially offset by the impact comprising the sharp decrease in legal and professional fees of approximately HKD 4.8 million.