Build King Holdings Limited provided earnings guidance for the year ended 31 December, 2018. Build King expected to report the consolidated profit attributable to owners of Build King for 2018 that is more than two times of the consolidated profit attributable to owners of Build King of HKD 184 million for 2017. The significant increase in the profit is attributable to change of accounting methods in profit recognition in 2018 as a result of the application of the new accounting standard HKFRS 15 'Revenue from Contracts with Customers' with effect from 1 January, 2018 as well as improvement of gross profit margin of construction projects. As the profits for the two years are determined by applying different standards, certain information may not be directly comparable. Had the new accounting standard not been applied, the consolidated profit attributable to owners of Build King for 2018 would have increased only by approximately 40%. This improvement was mainly attributable to the fact that during the year 2018, several major projects approaching completion reported improved profit as a result of tightened control on costs and increased scope of works under the contracts.