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FIH Mobile Limited富智康集團有限公司
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 2038) PRELIMINARY ANNOUNCEMENT OF FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016The Board hereby announces the audited consolidated results of the Group for the year ended 31 December 2016 together with comparative figures for the previous year as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFor the year ended 31 December 2016
2016 | 2015 | ||
NOTES | US$'000 | US$'000 | |
Revenue | 2 | 6,233,084 | 7,450,992 |
Cost of sales | (5,891,535) | (7,064,953) | |
Gross profit | 341,549 | 386,039 | |
Other income, gains and losses | 3 | 217,986 | 244,750 |
Selling expenses | (20,489) | (18,513) | |
General and administrative expenses | (201,100) | (187,813) | |
Research and development expenses | (117,259) | (114,633) | |
Impairment loss recognised for interests in associates | - | (8,112) | |
Interest expense on bank borrowings | (936) | (5,777) | |
Share of loss of associates | (1,687) | (5,172) | |
Share of loss of joint ventures | (1,153) | (605) | |
Profit before tax | 4 | 216,911 | 290,164 |
Income tax expense | 5 | (80,700) | (61,500) |
Profit for the year | 136,211 | 228,664 |
2016 | 2015 | |||
NOTE | US$'000 | US$'000 | ||
Other comprehensive income (expense): | ||||
Item that will not be reclassified to profit or loss: | ||||
Remeasurement of defined benefit pension plans | 495 | (655) | ||
Items that may be reclassified subsequently to profit or loss: | ||||
Exchange differences arising on translation of foreign operations | (193,681) | (241,383) | ||
Fair value gain (loss) on available-for-sale financial assets | 48,729 | (547) | ||
Share of translation reserve of associates | (2,206) | (349) | ||
Share of translation reserve of joint ventures | 30 | (171) | ||
(147,128) | (242,450) | |||
Other comprehensive expense for the year, net of income tax | (146,633) | (243,105) | ||
Total comprehensive expense for the year | (10,422) | (14,441) | ||
Profit (loss) for the year attributable to: | ||||
Owners of the Company | 138,321 | 229,066 | ||
Non-controlling interests | (2,110) | (402) | ||
136,211 | 228,664 | |||
Total comprehensive expense attributable to: | ||||
Owners of the Company | (8,245) | (13,761) | ||
Non-controlling interests | (2,177) | (680) | ||
(10,422) | (14,441) | |||
Earnings per share | 7 | |||
Basic | US1.77 cents | US2.96 cents | ||
Diluted | US1.75 cents | US2.93 cents |
At 31 December 2016
2016 | 2015 | |||
NOTES | US$'000 | US$'000 | ||
Non-current assets | ||||
Property, plant and equipment | 905,071 | 853,547 | ||
Investment properties | 6,273 | 6,515 | ||
Prepaid lease payments | 50,172 | 42,317 | ||
Goodwill | 8 | 83,235 | - | |
Intangible assets | 9 | 19,000 | - | |
Available-for-sale investments | 11 | 354,181 | 255,939 | |
Interests in associates | 12 | 72,379 | 29,359 | |
Interests in joint ventures | 3,546 | 3,897 | ||
Deferred tax assets | 32,426 | 47,082 | ||
Deposit for acquisition of prepaid lease payments | 27,499 | 30,700 | ||
Convertible notes | 13 | 60,000 | - | |
1,613,782 | 1,269,356 | |||
Current assets | ||||
Inventories | 375,336 | 332,636 | ||
Trade and other receivables | 14 | 2,495,148 | 1,595,361 | |
Short-term investments | 15 | 929,627 | 385,138 | |
Convertible notes | 13 | 20,940 | - | |
Bank deposits | 158,075 | 272,218 | ||
Bank balances and cash | 1,373,550 | 1,950,306 | ||
5,352,676 | 4,535,659 | |||
Current liabilities | ||||
Trade and other payables | 16 | 2,769,912 | 1,857,110 | |
Bank borrowings | 418,596 | 13,367 | ||
Provision | 21,172 | 19,093 | ||
Tax payable | 154,565 | 132,662 | ||
3,364,245 | 2,022,232 | |||
Net current assets | 1,988,431 | 2,513,427 | ||
Total assets less current liabilities | 3,602,213 | 3,782,783 |
2016 | 2015 | ||
US$'000 | US$'000 | ||
Capital and reserves | |||
Share capital | 319,410 | 315,748 | |
Reserves | 3,245,223 | 3,431,194 | |
Equity attributable to owners of the Company | 3,564,633 | 3,746,942 | |
Non-controlling interests | 6,123 | 8,472 | |
Total equity | 3,570,756 | 3,755,414 | |
Non-current liabilities | |||
Deferred tax liabilities | 7,590 | 150 | |
Deferred income | 23,867 | 27,219 | |
31,457 | 27,369 | ||
3,602,213 | 3,782,783 |
FIH Mobile Limited published this content on 09 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 March 2017 14:10:19 UTC.
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