The Board of Directors of Applied Development Holdings Limited announced that the Group is expected to record a profit for the six months ended 31 December 2015 as compared to a loss of approximately HKD 10 million recorded for the six months ended 31 December 2014. The turnaround of the Group's results is mainly attributable to (i) an estimated increase in fair value of investment properties of approximately HKD 49 million compared with HKD 14 million for the corresponding period in 2014; (ii) gain on disposal of subsidiaries during the six months ended 31 December 2015 of approximately HKD 6 million and (iii) a decrease in administrative expenses of approximately HKD 9 million when compared to the corresponding period in 2014.