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YAN TAT GROUP HOLDINGS LIMITED恩 達 集 團 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 1480) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017 Six months ended 30 JuneSix months
ended 30 June
2017 2016 ChangeHK$'000 HK$'000 (%)
(Unaudited) (Unaudited) ResultsRevenue 294,857 289,190 2.0
Profit before tax 11,413 17,499 (34.8)
Profit attributable to owners of
the Company 8,335 12,382 (32.7)
Basic and diluted earnings per share
(expressed in HK cents per share) 3.5 5.2 (32.7)
INTERIM RESULTSThe board (the "Board") of directors (the "Directors") of Yan Tat Group Holdings Limited (the "Company") is pleased to announce the unaudited interim condensed consolidated results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2017, together with the comparative figures for the corresponding period in 2016.
INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSSFor the six months ended 30 June 2017
Six months ended 30 June 2017 | Six months ended 30 June 2016 | ||
Notes | HK$'000 | HK$'000 | |
(Unaudited) | (Unaudited) | ||
REVENUE | 4 | 294,857 | 289,190 |
Cost of sales | (238,269) | (227,506) | |
Gross profit | 56,588 | 61,684 | |
Other income and gains | 4 | 4,801 | 8,745 |
Selling and distribution expenses | (9,523) | (10,470) | |
General and administrative expenses | (36,695) | (38,186) | |
Other expenses | (81) | (953) | |
Finance costs | 6 | (3,677) | (3,321) |
PROFIT BEFORE TAX | 5 | 11,413 | 17,499 |
Income tax expense | 7 | (3,078) | (5,117) |
PROFIT FOR THE PERIOD ATTRIBUTABLE TO OWNERS OF THE COMPANY | 8,335 | 12,382 | |
EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE COMPANY | 8 | ||
Basic and diluted | HK3.5 cents | HK5.2 cents |
For the six months ended 30 June 2017
Six months ended 30 June 2017 | Six months ended 30 June 2016 | ||
HK$'000 | HK$'000 | ||
(Unaudited) | (Unaudited) | ||
PROFIT FOR THE PERIOD | 8,335 | 12,382 | |
OTHER COMPREHENSIVE INCOME/ (LOSS) FOR THE PERIOD | |||
Other comprehensive income/(loss) to be reclassified to profit or loss in subsequent periods: | |||
Change in fair value of an available-for-sale investment | 135 | 371 | |
Exchange differences on translation of foreign operations | 14,710 | (9,134) | |
OTHER COMPREHENSIVE INCOME/ (LOSS) FOR THE PERIOD, NET OF TAX | 14,845 | (8,763) | |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD ATTRIBUTABLE TO OWNERS OF THE COMPANY | 23,180 | 3,619 | |
As at 30 June 2017
30 June 2017 | 31 December 2016 | |||
Notes | HK$'000 | HK$'000 | ||
(Unaudited) | (Audited) | |||
NON-CURRENT ASSETS | ||||
Property, plant and equipment | 410,644 | 396,525 | ||
Investment properties | 23,643 | 19,351 | ||
Prepaid land lease payments | 5,007 | 4,976 | ||
Deposits for purchases of items of property, plant and equipment | 6,181 | 8,545 | ||
Deposits | 2,227 | 2,169 | ||
Deferred tax assets | 8,838 | 7,947 | ||
Available-for-sale investment | 4,026 | 3,773 | ||
Total non-current assets | 460,566 | 443,286 | ||
CURRENT ASSETS | ||||
Inventories | 67,654 | 54,198 | ||
Trade and bills receivables | 9 | 223,413 | 207,232 | |
Prepayments, deposits and other receivables | 7,474 | 6,236 | ||
Tax recoverable | 1,089 | 1,089 | ||
Pledged deposits and restricted cash | 33,778 | 34,930 | ||
Cash and cash equivalents | 46,541 | 83,017 | ||
Total current assets | 379,949 | 386,702 | ||
CURRENT LIABILITIES | ||||
Trade and bills payables | 10 | 114,818 | 108,308 | |
Other payables and accruals | 52,259 | 55,145 | ||
Interest-bearing bank borrowings | 187,856 | 202,273 | ||
Finance lease payables | 6,144 | 5,826 | ||
Tax payable | 10,916 | 10,777 | ||
Total current liabilities | 371,993 | 382,329 | ||
NET CURRENT ASSETS | 7,956 | 4,373 | ||
TOTAL ASSETS LESS CURRENT LIABILITIES | 468,522 | 447,659 | ||