The board of directors of Gemdale Properties and Investment Corporation Limited announced that based on the preliminary review of the unaudited management accounts of the Group, the Group is expected to record a profit for the six months ended 30 June 2015 as compared to a loss for the six months ended 30 June 2014. Based on the information currently available, the turnaround was mainly attributable to the substantial increase in the sales revenue resulting from an increase of contracted sales recognition during the current period.