COASTAL GREENLAND 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.
COASTAL GREENLAND LIMITED沿海綠色家園有限公司*
(Incorporated in Bermuda with limited liability)
(Stock Code: 1124) UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2016 HIGHLIGHTS:Revenue for the period amounted to about HK$782.3 million, an increase of about 180% from last corresponding period.
Loss for the period attributable to owners of the Company was about HK$72.9 million, a mitigation of 62% from last corresponding period.
Contracted sales for the period amounted to about HK$2,448 million, an increase of 12% from last corresponding period. Included in the amount was HK$1,404 million (2015: HK$1,565 million) related to contracted sales attributable to the development projects in which the Group has equity interests ranging from 12% to 40% and of which the Group is the project manger.
The Board of Directors (the "Board") of Coastal Greenland Limited (the "Company") announce the unaudited interim results of the Company and its subsidiaries (the "Group") for the six months ended 30 September 2016 together with the comparative figures for the corresponding period in 2015. Consolidated results for the six months ended 30 September 2015 have been restated to reflect the construction business as a discontinued operation. The interim financial report for the six months ended 30 September 2016 has been reviewed by the Company's Audit Committee.
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFor the six months ended 30 September 2016
Six months ended 30 September 2016 2015Notes | (unaudited) HK$'000 | (unaudited) HK$'000 | |
(restated) | |||
Continuing operations Revenue | 4 | 782,286 | 279,818 |
Cost of sales | (636,298) | (263,974) | |
Gross profit | 145,988 | 15,844 | |
Other income and gains | 5 | 12,609 | 4,871 |
Marketing and selling expenses | (26,561) | (22,970) | |
Administrative expenses | (73,850) | (96,500) | |
Other expenses | (3,538) | (7,124) | |
Finance costs | 6 | (104,917) | (63,710) |
Share of profit of associates | 446 | 3,935 | |
Share of loss of joint ventures | (9,780) | (14,710) | |
Loss before taxation | (59,603) | (180,364) | |
Taxation | 7 | (13,269) | 26,219 |
Loss for the period from continuing operations | (72,872) | (154,145) | |
Discontinued operation Loss for the period from discontinued operation | 8 | - | (37,458) |
Loss for the period | 9 | (72,872) | (191,603) |
Other comprehensive expense Item that will not be reclassified to profit or loss | |||
Exchange differences arising on translation to | |||
presentation currency | (163,167) | (124,776) |
Notes HK$'000 HK$'000
(restated)
Loss for the period attributable to owners of the Company:
from continuing operations (72,866) (153,905)
from discontinued operation - (37,458)
Loss for the period attributable to owners of
the Company (72,866) (191,363)
Loss for the period attributable to
non-controlling interests: | ||
- from continuing operations | (6) | (240) |
- from discontinued operation | - | - |
Loss for the period attributable to
non-controlling interests (6) (240)
(72,872) (191,603)Total comprehensive expense attributable to:
Owners of the Company | (234,830) | (314,744) | |
Non-controlling interests | (1,209) | (1,635) | |
(236,039) | (316,379) | ||
HK cents | HK cents | ||
Loss per share From continuing and discontinued operations Basic and diluted | 10 | (1.74) | (4.57) |
From continuing operations
Basic and diluted (1.74) (3.68)
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAt 30 September 2016
30 September 2016 (unaudited) | 31 March 2016 (audited) | ||
Notes | HK$'000 | HK$'000 | |
NON-CURRENT ASSETS | |||
Property, plant and equipment | 237,393 | 241,596 | |
Investment properties | 212,191 | 219,250 | |
Prepaid land lease payments | 47,940 | 48,876 | |
Pledged deposits for other borrowing | - | 196,698 | |
Interests in associates | 702,702 | 724,963 | |
Interests in joint ventures | 360,265 | 382,233 | |
Amounts due from associates and joint ventures | 226,292 | 233,820 | |
Available-for-sale investments | 164,638 | 170,017 | |
Total non-current assets | 1,951,421 | 2,217,453 | |
CURRENT ASSETS | |||
Properties under development | 4,307,944 | 9,776,748 | |
Completed properties for sale | 1,236,563 | 992,917 | |
Trade receivables | 11 | - | 2,040 |
Prepayments, deposits and other receivables | 2,830,540 | 2,968,203 | |
Amounts due from associates and joint ventures | 992,701 | 1,015,834 | |
Prepaid tax | 104,614 | 94,999 | |
Pledged bank deposits | 271,627 | 390,305 | |
Cash and bank balances | 760,588 | 433,535 | |
10,504,577 | 15,674,581 | ||
Assets classified as held for sale | 13 | 5,529,119 | - |
Total current assets | 16,033,696 | 15,674,581 |
Coastal Greenland Limited published this content on 25 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 November 2016 13:35:56 UTC.
Original documenthttp://file.irasia.com/listco/hk/coastal/interim/2017/int.pdf
Public permalinkhttp://www.publicnow.com/view/F132A7C510682E8F55C47975A8BE55E0C597E1D4
