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city e-solutions ltd (557) Snapshot

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city e-solutions ltd (557) Details

City e-Solutions Limited, an investment holding company, provides hospitality related services in Hong Kong and the United States. It primarily offers hotel management services, including annual business planning, operations improvement, sales and marketing consultancy, revenue and channel management, management of franchise affiliation, human resources management, accounting and budgeting, and asset management services; reservations connectivity; online channel marketing; and revenue/channel management services. The company also provides purchasing and procurement services; risk management and insurance services; and consulting, technology, and e-commerce services for hotels, as well as owns and manages hotels. It operates approximately 25 hotels representing 4,600 rooms with franchise licenses under Hilton, Starwood, InterContinental, Marriott, Hyatt, and Choice International brands. The company, formerly known as CDL Hotels International Ltd, is based in Wanchai, Hong Kong. City e-Solutions Limited is a subsidiary of City Developments Limited.

119 Employees
Last Reported Date: 03/16/15

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city e-solutions ltd (557) Key Developments

City e-Solutions Limited Announces Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2015

City e-Solutions Limited announced unaudited consolidated earnings results for the six months ended June 30, 2015. For the six months, the company announced turnover of HKD 45,443,000 compared to HKD 51,382,000 for the same period a year ago. Loss from operating activities was HKD 12,735,000 compared to profit from operating activities of HKD 205,000 for the same period a year ago. Loss before taxation was HKD 14,758,000 compared to HKD 191,000 for the same period a year ago. Loss for the period was HKD 10,600,000 compared to profit for the period of HKD 1,166,000 for the same period a year ago. Loss attributable to equity shareholders of the company was HKD 7,806,000 or 2.04 cents per basic share compared to profit attributable to equity shareholders of the company of HKD 57,000 or 0.01 cents per basic share for the same period a year ago. Additions to non-current assets were HKD 3,593,000 compared to HKD 4,945,000 for the same period a year ago. During the period, the group reported lower revenue mainly due to lower management fee income from the group's hospitality segment. Overall, the group recorded net loss attributable to the equity shareholders of the company mainly to the losses from the group's hospitality segment.

City E-Solutions Limited Provides Earnings Guidance for the Six Months Ended 30 June 2015

City e-Solutions Limited provided earnings guidance for the six months ended 30 June 2015. For the six months, the company pre-tax loss is expected to increase to about HKD 15 million for the six months ended 30 June 2015 as compared to a pre-tax loss of HKD 0.19 million for the previous corresponding period. The board considers that the pre-tax loss was mainly attributable to (1) lower income generated from the hospitality segment and (2) net unrealised losses arising from fair value readjustments of the Group's trading securities and net unrealised foreign exchange losses as a result of the unfavorable movements in the Group's currency portfolio as at reporting date.

City e-Solutions Limited to Report First Half, 2015 Results on Aug 11, 2015

City e-Solutions Limited announced that they will report first half, 2015 results on Aug 11, 2015


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