China Lesso : INTERIM RESULTS ANNOUNCEMENT(FOR THE SIX MONTHS ENDED 30 JUNE 2017)
August 21, 2017 at 11:23 pm EDT
Share
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.
CHINA LESSO GROUP HOLDINGS LIMITED
中國聯塑集團控股有限公司*
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2128)
INTERIM RESULTS ANNOUNCEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2017
The Board is pleased to announce the unaudited consolidated financial results of the Group for the six months ended 30 June 2017.
HIGHLIGHTS
Compared to the financial results for the six months ended 30 June 2016:
•
Revenue increased by 22.6% to RMB8,977 million
•
Gross profit increased by 12.7% to RMB2,461 million
•
Profit for the period increased by 4.6% to RMB951 million
•
Basic earnings per share was RMB0.31, increased by 6.9%
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Six months ended 30 June 2017
Six months ended 30 June
Note
2017
RMB'000
(Unaudited)
2016
RMB'000
(Unaudited)
REVENUE
3
8,977,047
7,325,116
Cost of sales
(6,515,743)
(5,141,630)
Gross profit
2,461,304
2,183,486
Other revenue, income and gains
3
82,504
42,838
Selling and distribution expenses
(459,483)
(376,971)
Administrative expenses
(442,264)
(355,760)
Other expenses
(318,683)
(268,847)
Finance costs
4
(98,957)
(41,511)
Share of profit of a joint venture
253
385
PROFIT BEFORE TAX
5
1,224,674
1,183,620
Income tax expense
6
(274,001)
(275,185)
PROFIT FOR THE PERIOD
950,673
908,435
OTHER COMPREHENSIVE INCOME/
(EXPENSE)
Items that may be reclassified subsequently to profit or loss:
Available-for-sale investments:
Changes in fair value
(158,107)
442
Reclassification adjustment for gains on disposal
(1,143)
-
Exchange differences on translation of foreign
(159,250)
442
operations
141,335
(6,956)
OTHER COMPREHENSIVE EXPENSE
FOR THE PERIOD (17,915) (6,514)
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD 932,758 901,921
Six months ended 30 June
Note
2017
RMB'000
(Unaudited)
2016
RMB'000
(Unaudited)
Profit for the period attributable to: Owners of the Company
971,042
912,380
Non-controlling interests
(20,369)
(3,945)
950,673
908,435
Total comprehensive income for the period attributable to:
Owners of the Company
950,248
903,313
Non-controlling interests
(17,490)
(1,392)
932,758
901,921
EARNINGS PER SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY
Basic and diluted
8
RMB0.31
RMB0.29
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 30 June 2017
Note
30 June
2017
RMB'000
(Unaudited)
31 December
2016
RMB'000
(Audited)
NON-CURRENT ASSETS
Property, plant and equipment
6,724,500
6,621,953
Prepaid land lease payments
1,270,923
1,249,367
Investment properties
Deposits paid for the purchase of land, property, plant and equipment
3,517,351
805,858
2,469,488
549,919
Goodwill
76,554
76,554
Other intangible assets
176,496
183,615
Interest in a joint venture
8,241
7,988
Available-for-sale investments
9
1,430,693
730,814
Held-to-maturity investments
10
-
59,655
Loan receivables
11
57,799
63,191
Other long-term receivables
55,327
37,623
Derivative financial instruments
26,699
32,566
Deferred tax assets
54,771
53,869
Total non-current assets
14,205,212
12,136,602
CURRENT ASSETS
Inventories
12
3,058,456
2,747,065
Amounts due from customers for contract work
325,102
163,279
Loan receivables
11
366,329
325,764
Trade and bills receivables
13
1,468,636
1,517,248
Prepayments, deposits and other receivables
1,408,252
1,419,645
Cash and bank deposits
4,357,440
3,885,683
Total current assets
10,984,215
10,058,684
China Lesso Group Holdings Limited published this content on 22 August 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 August 2017 03:22:01 UTC.
Original documenthttp://www.lesso.com/Upload/2017-08-22/5f88ce70edc21940adb72c610642dcc2fee5e7a3.pdf
Public permalinkhttp://www.publicnow.com/view/8EB6A6E5EA6FBFD648ACEF2002E8A0F5322C852E
China Lesso Group Holdings Limited is an investment holding company principally engaged in the manufacture and sales of building materials and interior decoration products and the provision of factoring services. The Company operates its business through eight segments. The Southern China segment operates its business in Guangdong Province and Hainan Province. The Southwestern China segment operates its business in Chongqing Municipality and Sichuan Province. The Central China segment operates its business in Hubei Province. The Eastern China segment operates its business in Shanghai Municipality and Anhui Province. The Northern China segment operates its business in Beijing Municipality, Tianjin Municipality and Hebei Province. The Northwestern China segment operates its business in Shaanxi Province and Ningxia Hui Autonomous Region. The Northeastern China segment operates its business in Liaoning Province. The Outside China segment operates its business outside China.