ESPRIT HOLDINGS 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.
ESPRIT HOLDINGS LIMITED(Incorporated in Bermuda with limited liability)
Stock Code: 00330
ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 30 JUNE 2016 ANNUAL RESULTSThe board of directors (the "Board") of Esprit Holdings Limited (the "Company") announces the audited consolidated results of the Company and its subsidiaries (the "Group" or "Esprit") for the year ended 30 June 2016 together with comparative figures for the year ended 30 June 2015. The following financial information, including the comparative figures, has been prepared in accordance with International Financial Reporting Standards ("IFRS").
Notes HK$ million HK$ million
Revenue | 2 | 17,788 | 19,421 |
Cost of goods sold | (8,859) | (9,726) | |
───────── | ───────── | ||
Gross profit | 8,929 | 9,695 | |
Staff costs | (3,480) | (3,562) | |
Occupancy costs | (2,793) | (3,160) | |
Logistics expenses | (1,022) | (1,048) | |
Marketing and advertising expenses | (1,015) | (820) | |
Depreciation | (591) | (713) | |
Impairment of property, plant and equipment | (107) | (171) | |
Impairment of goodwill Additional provision for store closures and | 2 | - | (2,512) |
leases, net | 10 | (186) | (282) |
Gain on disposal of subsidiaries | 11 | 731 | - |
Other operating costs | (1,062) | (1,110) | |
───────── | ───────── | ||
Operating loss (LBIT) | 3 | (596) | (3,683) |
Interest income | 40 | 45 | |
Finance costs | 4 | (29) | (29) |
───────── | ───────── | ||
Loss before taxation | (585) | (3,667) | |
Taxation (credit/(charge)) | 5 | 606 | (29) |
───────── | ───────── | ||
Profit/(loss) attributable to shareholders of the Company | 21 | (3,696) | |
═════════ | ═════════ |
- Basic and diluted | 7 | HK$0.01 | HK$(1.90) |
═════════ | ═════════ |
----------------- -----------------
Other comprehensive income Items that may be reclassified subsequently to profit or loss:Fair value (loss)/gain on cash flow hedge,
net of tax | (152) | 164 |
Exchange translation | (373) | (1,452) |
───────── (525) | ───────── (1,288) | |
----------------- | ----------------- | |
Total comprehensive income for the year | ||
attributable to shareholders of the | ||
Company, net of tax | (504) | (4,984) |
═════════ | ═════════ |
Non-current assets | Notes | HK$ million | HK$ million |
Intangible assets | 2,902 | 3,031 | |
Property, plant and equipment | 2,159 | 2,835 | |
Investment properties | 19 | 17 | |
Other investments | 7 | 7 | |
Debtors, deposits and prepayments | 220 | 240 | |
Deferred tax assets | 745 | 649 | |
──────── 6,052 | ──────── 6,779 | ||
Current assets | ──────── | ──────── | |
Inventories | 2,745 | 2,969 | |
Debtors, deposits and prepayments | 8 | 1,571 | 2,008 |
Tax receivable | 331 | 640 | |
Cash, bank balances and deposits | 5,341 | 5,017 | |
Current liabilities | ──────── 9,988 --------------- | ──────── 10,634 --------------- | |
Creditors and accrued charges | 9 | 3,495 | 3,672 |
Provision for store closures and leases | 10 | 604 | 557 |
Tax payable | 60 | 687 | |
──────── 4,159 --------------- | ──────── 4,916 --------------- | ||
Net current assets | 5,829 | 5,718 | |
──────── | ──────── | ||
Total assets less current liabilities | 11,881 | 12,497 | |
════════ | ════════ | ||
Equity | |||
Share capital | 194 | 194 | |
Reserves | 11,203 | 11,704 | |
Total equity | ──────── 11,397 --------------- | ──────── 11,898 --------------- | |
Non-current liabilities | |||
Deferred tax liabilities | 484 --------------- | 599 --------------- | |
11,881 | 12,497 | ||
════════ | ════════ |
Esprit Holdings Limited published this content on 20 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 September 2016 09:00:02 UTC.
Original documenthttp://www.esprit.com/index.php?command=ItemDownload&class=Esprit_Model_IR_DocAttachment&identity=1114
Public permalinkhttp://www.publicnow.com/view/59A9FE853002E44B10D7F3A170CE8E32319F304C
