The Board of Directors of Applied Development Holdings Limited announced that the Group is expected to record a loss for the six months ended 31 December 2017 as compared to the profit of HKD 44.0 million recorded for the six months ended 31 December 2016. The turnaround of the Group's results is mainly attributable to an increase in fair value of investment properties of HKD 7.0 million as compared to HKD 41.0 million for the corresponding period in 2016; (ii) decrease in revenue of approximately of HKD 5.2 million and (iii) the finance cost of approximately HKD 8.3 million for the six months ended 31 December 2017.