AGRITRADE RESOURCES LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Bermuda with limited liability)
(Stock Code: 1131) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2017The board (the "Board") of directors (the "Directors") of Agritrade Resources Limited (the "Company") is pleased to announce the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively the "Group") for the six months ended 30 September 2017 with comparative figures for the corresponding period in 2016 as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFor the six months ended 30 September
2017 | 2016 | |||
HK$'000 | HK$'000 | |||
Notes | (Unaudited) | (Unaudited) | ||
Revenue | 3 | 984,761 | 651,632 | |
Cost of sales and services | (615,136) | (431,012) | ||
Gross profit | 369,625 | 220,620 | ||
Other income, and gains and losses, net | 2,443 | 39,108 | ||
Administrative expenses | (59,034) | (50,762) | ||
Finance costs | 4 | (46,247) | (20,139) | |
Profit before income tax | 266,787 | 188,827 | ||
Income tax | 6 | (55,341) | (21,497) | |
Profit for the period | 5 | 211,446 | 167,330 | |
Profit for the period attributable to: | ||||
- Owners of the Company | 147,629 | 143,168 | ||
- Non-controlling interests | 63,817 | 24,162 | ||
211,446 | 167,330 | |||
Earnings per share | 7 | |||
- Basic | HK9.3 cents | HK9.0 cents | ||
- Diluted | HK9.3 cents | HK8.1 cents | ||
Interim dividend per share | Nil | Nil | ||
2017 | 2016 | ||
HK$'000 | HK$'000 | ||
(Unaudited) | (Unaudited) | ||
Profit for the period | 211,446 | 167,330 | |
Other comprehensive (loss)/income for the period: | |||
Items that may be reclassified subsequently to profit or loss: | |||
Exchange differences arising on translation of foreign operations | (16,144) | 461 | |
Total comprehensive income for the period | 195,302 | 167,791 | |
Total comprehensive income for the period attributable to: | |||
- Owners of the Company | 134,401 | 143,629 | |
- Non-controlling interests | 60,901 | 24,162 | |
195,302 | 167,791 | ||
As at 30 September 2017
As at 30 September 2017 | As at 31 March 2017 | |||
HK$'000 | HK$'000 | |||
Notes | (Unaudited) | (Audited) | ||
Non-current assets | ||||
Property, plant and equipment | 6,491,420 | 6,389,872 | ||
Prepaid lease payments | 146,938 | 147,376 | ||
Exploration and evaluation assets | 13,872 | 14,087 | ||
6,652,230 | 6,551,335 | |||
Current assets | ||||
Inventories | 116,687 | 83,044 | ||
Trade receivables | 8 | 268,877 | 206,563 | |
Other receivables, deposits and prepayments | 476,543 | 296,464 | ||
Derivative financial assets | 506 | - | ||
Amounts due from related parties | 220,901 | 169,681 | ||
Pledged bank deposit | 7,740 | 7,740 | ||
Bank balances and cash | 284,100 | 387,729 | ||
1,375,354 | 1,151,221 | |||
Current liabilities | ||||
Trade payables | 9 | 227,292 | 181,705 | |
Other payables, accruals and deposits received | 159,091 | 154,026 | ||
Provision for close-down, restoration and environmental costs | 5,349 | 5,349 | ||
Secured bank borrowings | 354,177 | 294,933 | ||
Convertible bonds | 122,787 | - | ||
Amounts due to related parties | 632 | 1,150 | ||
Obligation under finance leases | 47,695 | 47,695 | ||
Derivative financial liabilities | 14,930 | 16,546 | ||
Tax payable | 237,753 | 213,058 | ||
1,169,706 | 914,462 | |||
Net current assets | 205,648 | 236,759 | ||
Total assets less current liabilities | 6,857,878 | 6,788,094 | ||
As at 30 September 2017 | As at 31 March 2017 | ||
HK$'000 | HK$'000 | ||
(Unaudited) | (Audited) | ||
Non-current liabilities | |||
Other payable | 77,400 | 77,400 | |
Amount due to related parties | 66,262 | 18,945 | |
Obligation under finance leases | 15,953 | 15,953 | |
Secured bank borrowings | 469,437 | 505,603 | |
Convertible bonds | - | 119,636 | |
Deferred tax | 1,111,382 | 1,121,061 | |
1,740,434 | 1,858,598 | ||
Net assets | 5,117,444 | 4,929,496 | |
Capital and reserves | |||
Share capital | 152,127 | 152,107 | |
Reserves | 2,910,598 | 2,783,571 | |
Equity attributable to owners of the Company | 3,062,725 | 2,935,678 | |
Non-controlling interests | 2,054,719 | 1,993,818 | |
Total equity | 5,117,444 | 4,929,496 | |
Agritrade Resources Ltd. published this content on 16 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 November 2017 14:56:01 UTC.
Original documenthttp://www.agritraderesources.com/attachment/2017111622470100002975787_en.pdf
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