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Sheen Tai Holdings Group Company Limited順泰控股集團有限公司
(incorporated in the Cayman Islands with limited liability)
(Stock code: 01335) ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016GROUP FINANCIAL HIGHLIGHT for the year ended 31 December 2016 (Expressed in Hong Kong dollars) | ||
2016 $'000 | 2015 $'000 | |
Revenue | 478,354 | 469,241 |
Gross profit | 173,556 | 130,954 |
Profit before taxation | 47,984 | 381,164 |
Profit attributable to: Equity shareholders of the Company | 36,132 | 326,530 |
Earnings per share | ||
Basic (HKD) | 0.017 | 0.164 |
Diluted (HKD) | 0.001 | 0.151 |
Cash and cash equivalents | 171,003 | 194,410 |
Net assets | 833,933 | 917,350 |
Total assets | 2,134,825 | 1,414,399 |
RESULTS |
The board (the "Board") of directors (the "Directors") of Sheen Tai Holdings Group Company Limited (the "Company" or "Sheentai") is pleased to announce the consolidated results of the Company and its subsidiaries (collectively, the "Group") for the year ended 31 December 2016 (the "Year"), with the comparative figures for the year ended 31 December 2015, as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSSFor the year ended 31 December 2016 (Expressed in Hong Kong dollars)
Note | 2016 $'000 | 2015 $'000 | |
Revenue | 5 | 478,354 | 469,241 |
Cost of sales | (304,798) | (338,287) | |
Gross profit | 173,556 | 130,954 | |
Other income | 6 | 26,272 | 13,185 |
Distribution costs | (37,236) | (17,665) | |
Administrative expenses | (95,341) | (89,364) | |
Other operating expenses | (10,706) | (2,649) | |
Profit from operations | 56,545 | 34,461 | |
Net income from disposal of a subsidiary | - | 362,125 | |
Finance costs | 7(a) | (8,561) | (15,422) |
Profit before taxation | 7 | 47,984 | 381,164 |
Income tax | 8(a) | (11,852) | (54,634) |
Profit for the year | 36,132 | 326,530 | |
Attributable to: Equity shareholders of the Company | 36,132 | 326,530 | |
Non-controlling interests | - | - | |
Profit for the year | 36,132 | 326,530 | |
Earnings per share | |||
Basic (HK$) | 9 | 0.017 | 0.164 |
Diluted (HK$) | 9 | 0.001 | 0.151 |
For the year ended 31 December 2016 (Expressed in Hong Kong dollars)
2016 $'000 | 2015 $'000 | |
Profit for the year | 36,132 | 326,530 |
Other comprehensive income for the year |
Exchange differences on translation of
financial statements of subsidiaries (48,634) (38,684)
Other comprehensive income for the year (48,634) (38,684) Total comprehensive income for the year (12,502) 287,846 Attributable to:Equity shareholders of the Company (12,502) 287,846 Non-controlling interests - -
Total comprehensive income for the year (12,502) 287,846CONSOLIDATED STATEMENT OF FINANCIAL POSITION At 31 December 2016 (Expressed in Hong Kong dollars) | ||
Note | 2016 $'000 | 2015 $'000 |
Non-current assets | ||
Property, plant and equipment Interests in leasehold land held for own use under operating lease | 468,135 19,460 | 354,386 21,287 |
Goodwill | 52,475 | - |
Intangible assets | 185,145 | 1,082 |
Other non-current assets | 2,166 | 1,885 |
Deferred tax assets | 13,054 | 8,278 |
740,435 | 386,918 | |
Current assets | ||
Financial assets at fair value through profit or loss | 224,648 | 83,410 |
Inventories | 682,205 | 416,677 |
Trade and other receivables 11 | 311,669 | 329,356 |
Tax recoverable | 4,864 | - |
Restricted cash | 1 | 3,628 |
Cash and cash equivalents | 171,003 | 194,410 |
1,394,390 | 1,027,481 | |
Current liabilities | ||
Trade and other payables 12 | 888,575 | 315,854 |
Bank loans and overdrafts 13 | 144,040 | 95,789 |
Financial liabilities at fair value through profit or loss | - | 1,403 |
Current taxation | 9,230 | 4,268 |
1,041,845 | 417,314 | |
Net current assets | 352,545 | 610,167 |
Total assets less current liabilities | 1,092,980 | 997,085 |