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RYKADAN CAPITAL LIMITED ҃ਿ༟͉Ϟࠢʮ̡
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2288)
INTERIM RESULTS ANNOUNCEMENT
FOR THE SIX-MONTH PERIOD ENDED 30 SEPTEMBER 2018
FINANCIAL HIGHLIGHTS
For the six-month period ended
30 September 30 September 2018 2017
RESULTS:
(Loss)/profit for the period ($'000) | (50,306) | 46,263 |
FINANCIAL INFORMATION PER SHARE: | ||
(Loss)/earnings per share - Basic and diluted (HK Cents) | (9.2) | 9.6 |
At | At | |
30 September | 31 March | |
2018 | 2018 | |
Net assets per share (HK$) (Net assets/number of | ||
issued ordinary shares of the Company) | 2.32 | 2.51 |
INTERIM DIVIDEND: |
The Board does not recommend the payment of an interim dividend for the six-month period ended 30 September 2018.
UNAUDITED INTERIM RESULTS
The board of directors (the "Board") of Rykadan Capital Limited ҃ਿ༟͉Ϟࠢʮ̡ (the "Company") hereby announces the unaudited consolidated interim results of the Company and its subsidiaries (the "Group") for the six-month period ended 30 September 2018 together with the unaudited comparative figures for the corresponding period ended 30 September 2017 as follows:
CONSOLIDATED INCOME STATEMENT
FOR THE SIX-MONTH PERIOD ENDED 30 SEPTEMBER 2018 - UNAUDITED (Expressed in Hong Kong dollars)
Six-month period ended
30 September
Note | 2018 | 2017 | |
(Note) | |||
$'000 | $'000 | ||
Revenue | 3 | 51,673 | 155,326 |
Cost of sales and services | (29,030) | (105,793) | |
Gross profit | 22,643 | 49,533 | |
Other revenue | 7,321 | 3,882 | |
Other net (loss)/income | (28,644) | 20,294 | |
Selling and marketing expenses | (1,499) | (8,960) | |
Administrative and other operating expenses | (23,824) | (24,314) | |
(Loss)/profit from operations | (24,003) | 40,435 | |
Increase in fair value of investment properties | 6,553 | 12,863 | |
Finance costs | 4(a) | (12,232) | (4,767) |
Share of losses of associates | (5,167) | - | |
Share of profit less loss of joint ventures | (13,346) | 1,544 | |
(Loss)/profit before taxation | 4 | (48,195) | 50,075 |
Income tax | 5 | (2,111) | (3,812) |
(Loss)/profit for the period | (50,306) | 46,263 | |
Attributable to: | |||
- Equity shareholders of the Company | (43,849) | 45,647 | |
- Non-controlling interests | (6,457) | 616 | |
(Loss)/profit for the period | (50,306) | 46,263 | |
(Loss)/earnings per share | 6 | ||
Basic and diluted | (9.2) cents | 9.6 cents |
Note:
The Group has initially applied HKFRS 9 at 1 April 2018. Under the transition methods chosen, comparative information is not restated. See note 2.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX-MONTH PERIOD ENDED 30 SEPTEMBER 2018 - UNAUDITED (Expressed in Hong Kong dollars)
Six-month period ended
30 September
Note | 2018 | 2017 | |
(Note) | |||
$'000 | $'000 | ||
(Loss)/profit for the period | (50,306) | 46,263 | |
Other comprehensive income for the period (after tax | |||
and reclassification adjustments): | |||
Items that may be reclassified subsequently to profit or loss: | |||
- Exchange differences arising on translation of foreign | |||
operations | (20,278) | 6,397 | |
- Share of translation reserve of joint ventures | (4,401) | 1,678 | |
(24,679) | 8,075 | ||
Item that will not be reclassified subsequently to profit or loss: | |||
- Surplus on revaluation of buildings held for own use upon | |||
transfer out to investment properties | 8 | - | 11,474 |
Other comprehensive income for the period | (24,679) | 19,549 | |
Total comprehensive income for the period | (74,985) | 65,812 | |
Attributable to: | |||
- Equity shareholders of the Company | (60,593) | 61,738 | |
- Non-controlling interests | (14,392) | 4,074 | |
Total comprehensive income for the period | (74,985) | 65,812 |
Note:
The Group has initially applied HKFRS 9 at 1 April 2018. Under the transition methods chosen, comparative information is not restated. See note 2.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 30 SEPTEMBER 2018 - UNAUDITED
(Expressed in Hong Kong dollars)
At | At | ||
30 September | 31 March | ||
Note | 2018 | 2018 | |
(Unaudited) | (Audited) | ||
(Note) | |||
$'000 | $'000 | ||
Non-current assets | |||
Investment properties | 8 | 505,363 | 529,716 |
Other properties, plant and equipment | 42,599 | 44,155 | |
Interests in associates | 9 | 234,976 | 218,885 |
Interests in joint ventures | 10 | 214,766 | 227,860 |
Other receivables, deposits and prepayments | - | 310 | |
Financial assets measured at fair value through other | |||
comprehensive income | 15,651 | - | |
Available-for-sale equity securities | - | 15,651 | |
Deferred tax assets | 1,002 | 1,002 | |
1,014,357 | 1,037,579 | ||
Current assets | |||
Properties for sale | 864,996 | 724,948 | |
Inventories | 16,636 | 36,682 | |
Trade receivables | 11 | 117,242 | 115,225 |
Other receivables, deposits and prepayments | 63,835 | 133,796 | |
Amounts due from associates | 9 | 2,242 | 3,267 |
Cash held by stakeholders | 47,614 | 188,325 | |
Bank deposits and cash on hand | 238,646 | 399,434 | |
1,351,211 | 1,601,677 | ||
Current liabilities | |||
Trade and other payables | 12 | 98,411 | 126,130 |
Deposits received from sale of properties | 387,884 | 385,051 | |
Bank loans | 13 | 676,774 | 646,740 |
Loans from non-controlling shareholders | 77,796 | 77,559 | |
Taxation payable | 6,712 | 8,033 | |
1,247,577 | 1,243,513 | ||
Net current assets | 103,634 | 358,164 | |
Total assets less current liabilities | 1,117,991 | 1,395,743 |
At | At | ||
30 September | 31 March | ||
Note | 2018 | 2018 | |
(Unaudited) | (Audited) | ||
(Note) | |||
$'000 | $'000 | ||
Non-current liabilities | |||
Bank loans | 13 | - | 183,826 |
Deferred tax liabilities | 12,696 | 15,111 | |
12,696 | 198,937 | ||
NET ASSETS | 1,105,295 | 1,196,806 | |
CAPITAL AND RESERVES | |||
Share capital | 4,774 | 4,774 | |
Reserves | 1,071,526 | 1,148,359 | |
Total equity attributable to equity shareholders | |||
of the Company | 1,076,300 | 1,153,133 | |
Non-controlling interests | 28,995 | 43,673 | |
TOTAL EQUITY | 1,105,295 | 1,196,806 |
Note:
The Group has initially applied HKFRS 9 at 1 April 2018. Under the transition methods chosen, comparative information is not restated. See note 2.