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G-Resources Group Limited 國 際 資 源 集 團 有 限 公 司*(Incorporated in Bermuda with limited liability)
(Stock Code: 1051)
INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017 GROUP RESULTSThe board (the "Board") of directors (the "Directors") of G-Resources Group Limited (the "Company") is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2017, together with the comparative figures for the corresponding period in 2016 as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSSFor the six months ended 30 June 2017
For the six months ended
NOTES | 30 June 2017 USD'000 (Unaudited) | 30 June 2016 USD'000 (Unaudited) | |
Continuing operations Revenue | 4 | 13,322 | 12,789 |
Other income | 7,635 | 1,675 | |
Administrative expenses | (7,714) | (5,748) | |
Fair value changes of held for trading investments | 690 | (1,304) | |
Fair value loss of derivative component in convertible bond | (858) | - | |
Increase in fair value of investment properties | 6,445 | 386 | |
Profit before taxation | 19,520 | 7,798 | |
Taxation | 5 | (226) | (13) |
Profit for the period from continuing operations | 6 | 19,294 | 7,785 |
Discontinued operation Profit for the period from discontinued operation | - | 118,566 | |
Profit for the period | 19,294 | 126,351 |
For the six months ended
30 June
2017
30 June
2016
NOTES USD'000 USD'000
(Unaudited) (Unaudited)
Profit for the period attributable to owners of the Company
Continuing operations 18,499 7,829
Discontinued operation - 117,653
Profit for the period attributable to owners of the Company 18,499 125,482
Profit/(loss) for the period attributable to non-controlling interests
Continuing operations | 795 | (44) | |
Discontinued operation | - | 913 | |
Profit for the period attributable to non-controlling interests | 795 | 869 | |
19,294 | 126,351 | ||
Earnings per share For continuing operations and discontinued operation - Basic and diluted (US cent) | 8 | 0.07 | 0.47 |
For continuing operations
- Basic and diluted (US cent) 8 0.07 0.03
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFor the six months ended 30 June 2017
For the six months ended
30 June
2017
30 June
2016
USD'000 USD'000
(Unaudited) (Unaudited)
Profit for the period 19,294 126,351
Other comprehensive (expenses)/income:
Item that will not be reclassified subsequently to profit or loss:
Exchange differences arising on translation (6,494) (874)
(6,494) (874)
Items that may be reclassified subsequently to profit or loss:
Exchange differences arising on translation | 1,864 | 85 |
Release of exchange reserve upon disposal of subsidiaries | - | 304 |
Fair value gain on available-for-sale investments | 7,020 | 2,702 |
Reclassification upon disposal of available-for-sale investments | (533) | - |
8,351 | 3,091 | |
Other comprehensive income for the period | 1,857 | 2,217 |
Total comprehensive income for the period | 21,151 | 128,568 |
Total comprehensive income for the period attributable to: Owners of the Company | 20,393 | 127,703 |
Non-controlling interests | 758 | 865 |
21,151 | 128,568 |
At 30 June 2017
NOTES | 30 June 2017 USD'000 (Unaudited) | 31 December 2016 USD'000 (Audited) | |
NON-CURRENT ASSETS Property, plant and equipment | 60,032 | 24,664 | |
Investment properties | 82,978 | 95,934 | |
Available-for-sale investments | 9 | 396,416 | 303,382 |
Other receivable and deposits | 10 | 1,964 | 13,357 |
Intangible assets | 516 | 455 | |
Goodwill | 1,471 | 1,480 | |
Loans receivable | 11 | 256 | - |
543,633 | 439,272 | ||
CURRENT ASSETS Accounts and other receivables | 10 | 17,641 | 21,396 |
Held for trading investments | 72,750 | 72,391 | |
Loans receivable | 11 | 26,622 | 15,868 |
Convertible bond | 8,872 | - | |
Derivative component in convertible bond | 73 | - | |
Tax recoverable | 79 | - | |
Bank trust accounts balances | 2,082 | 459 | |
Bank balances and cash | 725,543 | 825,485 | |
853,662 | 935,599 | ||
CURRENT LIABILITIES Accounts and other payables | 12 | 14,123 | 13,071 |
Tax payable | 326 | 105 | |
14,449 | 13,176 | ||
NET CURRENT ASSETS | 839,213 | 922,423 | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 1,382,846 | 1,361,695 | |
NON-CURRENT LIABILITY Deferred tax liabilities | 64 | 64 | |
64 | 64 | ||
1,382,782 | 1,361,631 | ||
CAPITAL AND RESERVES Share capital | 13 | 34,871 | 34,871 |
Reserves | 1,341,984 | 1,321,591 | |
Equity attributable to owners of the Company | 1,376,855 | 1,356,462 | |
Non-controlling interests | 5,927 | 5,169 | |
TOTAL EQUITY | 1,382,782 | 1,361,631 |