CST GROUP 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 the Cayman Islands with limited liability)
(Stock Code: 985)The Board of Directors (the 'Board') of CST Mining Group Limited (the 'Company') announces the unaudited consolidated results of the Company and its subsidiaries (the 'Group') for the six months ended 30 September 2015 with the comparative figures for the corresponding period in 2014 as follows:
For the Six Months Ended 30 September 2015
Six months ended 30 SeptemberNotes | 2015 US$'000 (unaudited) | 2014 US$'000 (unaudited) | |
Revenue | 4 | 38,981 | 70,074 |
Cost of sales | 5 | (16,631) | (45,602) |
Gross profit | 22,350 | 24,472 | |
Other income and other gains and losses | 6 | (4,615) | (3,730) |
Distribution and selling expenses | (1,505) | (3,308) | |
Administrative expenses Gain on disposal of an available-for-sale investment | (11,187) - | (12,436) 336 | |
Impairment loss recognised on an available-for-sale investment | (4,522) | (17,479) |
Gain on fair value changes of financial
assets at fair value through profit or loss 46,552 91,133 Gain (loss) on fair value changes of
investment properties 684 (98) Loss on inventories written down to net
realisable value | (20,729) | - | |
Finance costs | 7 | (159) | (885) |
Share of (loss) profit of a joint venture | (7,700) | 5,323 |
Profit before taxation | 19,169 | 83,328 | |
Taxation | 8 | (563) | 1,013 |
Profit for the period, attributable to owners of the Company | 9 | 18,606 | 84,341 |
2015 | 2014 |
Notes | (unaudited | ) | (unaudited | ) |
Other comprehensive expense | ||||||
Items that may be reclassified subsequently to profit or loss: | ||||||
Exchange differences arising on translation of foreign operations | (6,882 | (2,881 | ||||
Loss arising from fair value changes of an available-for-sale investment | (8,158 | - | ||||
Other comprehensive expense for the period | (15,040 | (2,881 | ||||
Total comprehensive income for the period, attributable to owners of the Company | 3,566 | 81,460 | ||||
EARNINGS PER SHARE | ||||||
Basic and diluted | 10 | US0.06 cents | US0.31 cents | |||
At 30 September 2015
As at 30 September | As at 31 March | |||||
2015 | 2015 | |||||
US$'000 | US$'000 | |||||
Notes | (unaudited | (audited | ||||
Non-current assets | ||||||
Property, plant and equipment | 12 | 3,639 | 4,518 | |||
Exploration and evaluation assets | 12 | 27,198 | 28,709 | |||
Investment properties | 21,360 | 20,676 | ||||
Financial assets at fair value through profit or loss | 9,925 | 8,281 | ||||
Available-for-sale investments | 89,287 | 100,545 | ||||
Pledged bank deposits | 49,006 | 52,781 | ||||
Interests in a joint venture | 4,732 | 12,432 | ||||
205,147 | 227,942 | |||||
Current assets | ||||||
Inventories | 18,550 | 40,954 | ||||
Trade and other receivables | 13 | 34,817 | 7,606 | |||
Amount due from a joint venture | 4,045 | 4,037 | ||||
Financial assets at fair value through profit or loss | 766,369 | 634,481 | ||||
Bank balances and cash | 55,611 | 99,503 | ||||
879,392 | 786,581 | |||||
Current liabilities | ||||||
Trade and other payables | 14 | 6,670 | 7,002 | |||
Amount due to a non-controlling interest | 256 | 256 | ||||
Tax payable | 5,117 | 4,602 | ||||
12,043 | 11,860 | |||||
2015 | 2015 | |
Notes | (unaudited) | (audited) |
As at 30 September | As at 31 March |
US$'000 | US$'000 |
Net current assets | 867,349 | 774,721 | ||||
Total assets less current liabilities | 1,072,496 | 1,002,663 | ||||
Non-current liability | ||||||
Provision for mine rehabilitation cost | 23,451 | 25,377 | ||||
1,049,045 | 977,286 | |||||
Capital and reserves | ||||||
Share capital | 15 | 416,645 | 347,414 | |||
Reserves | 632,406 | 629,878 | ||||
Equity attributable to owners of the Company | 1,049,051 | 977,292 | ||||
Non-controlling interests | (6 | (6 | ||||
1,049,045 | 977,286 | |||||
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