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.

DAPHNE INTERNATIONAL HOLDINGS LIMITED 達 芙 妮 國 際 控 股 有 限 公 司*

(Incorporated in the Cayman Islands with limited liability) (Stock code: 210)

INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2016

FINANCIAL HIGHLIGHTS

  • Turnover dropped by 22.3% to HK$3,400.8 million

  • Gross profit decreased by 29.0% to HK$1,884.2 million

  • Loss attributable to owners of the Company was HK$163.6 million

  • Basic loss per share was HK9.9 cents

  • Total number of points-of-sale decreased by 466 to 5,464

* for identification purpose only

INTERIM RESULTS

The board of directors of Daphne International Holdings Limited (the "Company") announces the unaudited condensed consolidated interim results of the Company and its subsidiaries (together the "Group") for the six months ended 30 June 2016, together with the comparative figures for the corresponding period in 2015.

CONDENSED CONSOLIDATED INCOME STATEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2016

Unaudited

Note

2016

2015

HK$'000

HK$'000

Turnover

3

3,400,845

4,374,270

Cost of sales

(1,516,637)

(1,719,673)

─────────

─────────

Gross profit

1,884,208

2,654,597

Other income

4

48,419

27,118

Other losses - net

5

(20,720)

(27,248)

Selling and distribution expenses

(1,990,748)

(2,433,638)

General and administrative expenses

(170,619)

(209,807)

─────────

─────────

Operating (loss)/profit

6

(249,460)

11,022

Finance costs

7

(3,393)

(8,460)

Share of loss of associates and joint ventures

(797)

(1,571)

─────────

─────────

(Loss)/profit before income tax

(253,650)

991

Income tax credit

8

83,701

7,954

─────────

─────────

(Loss)/profit for the period

(169,949)

8,945

═════════

═════════

Attributable to:

Owners of the Company

(163,596)

2,534

Non-controlling interests

(6,353)

6,411

─────────

─────────

(169,949)

8,945

═════════

═════════

(Loss)/earnings per share, basic and diluted (HK cents)

9

(9.9)

0.2

═════════

═════════

Six months ended 30 June

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2016

Unaudited

2016

2015

HK$'000

HK$'000

(Loss)/profit for the period

(169,949)

8,945

Other comprehensive (loss)/income

Item that may be reclassified subsequently to profit or loss:

Currency translation differences

289

214

Item that will not be reclassified subsequently to profit or loss:

Currency translation differences

(94,391)

(184)

────────

────────

Total comprehensive (loss)/income for the period

(264,051)

8,975

════════

════════

Attributable to:

Owners of the Company

(255,451)

2,893

Non-controlling interests

(8,600)

6,082

───────

───────

(264,051)

8,975

════════

═════════

Six months ended 30 June

CONDENSED CONSOLIDATED BALANCE SHEET AS AT 30 JUNE 2016

Note

Unaudited 30 June

2016

Audited 31 December

2015

HK$'000

HK$'000

Non-current assets

Intangible assets

63,118

66,715

Land use rights

77,150

80,136

Property, plant and equipment

1,062,742

1,190,401

Interests in associates

1,941

2,007

Interests in joint ventures

1,020

2,028

Available-for-sale financial asset

374

374

Deposits paid for acquisition of land use rights and property,

plant and equipment

117

119

Long-term rental deposits and prepayments

116,635

125,287

Deferred income tax assets

414,524

334,136

──────

──────

1,737,621

1,801,203

-------------

-------------

Current assets

Inventories

1,769,040

2,091,619

Trade receivables

11

276,895

237,874

Other receivables, deposits and prepayments

1,264,530

1,475,031

Income tax recoverable

63,241

65,886

Derivative financial instruments

5,019

15,919

Pledged bank deposits

818

3,225

Bank deposit with maturity over three months

17,535

-

Cash and cash equivalents

573,851

1,072,401

──────

──────

3,970,929

4,961,955

-------------

-------------

Current liabilities

Trade payables

12

616,756

982,616

Other payables and accrued charges

350,715

442,053

Current income tax liabilities

29,836

50,387

Bank loans - unsecured

304,551

620,792

──────

──────

1,301,858

2,095,848

-------------

-------------

Net current assets

2,669,071

2,866,107

-------------

-------------

Total assets less current liabilities

4,406,692

4,667,310

═══════

═══════

Daphne International Holdings Limited published this content on 23 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 August 2016 09:54:02 UTC.

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