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.
ANNOUNCEMENT OF FINAL RESULTS FOR THE YEAR ENDED 30 JUNE 2016FINANCIAL HIGHLIGHTS Turnover Revenue Profit from operations Profit attributable to equity shareholders of the Company Earnings per share Dividend per share : Interim Proposed final Total Equity per share attributable to equity shareholders of the Company | 2016 2015 HK$'M HK$'M Decrease |
18,878 33,771 (44%) 17,260 21,748 (21%) 5,118 5,436 (6%) 3,088 4,625 (33%) HK$ HK$ 9.50 14.23 (33%) 1.00 1.00 3.00 3.00 4.00 4.00 - 170.71 177.60 (4%) |
The consolidated results of Guoco Group Limited (the "Company") and its subsidiaries (together the "Group") for the financial year ended 30 June 2016 together with comparative figures for the previous year are as follows:
CONSOLIDATED INCOME STATEMENT 2016 2015Note HK$'000 HK$'000
Turnover 2 & 3 18,878,074 33,770,697
Revenue 2 & 3 17,259,678 21,747,872
Cost of sales (8,972,076) (11,810,644)
Other attributable costs (311,460) (310,671)
7,976,142 9,626,557Other revenue 321,555 421,587
Other net income 4 2,241,130 1,608,744 Administrative and other operating expenses (4,659,176) (5,195,284)
Profit from operations before finance costs 5,879,651 6,461,604 Finance costs 2(b) & 5(a) (761,157) (1,025,426) Profit from operations 2 5,118,494 5,436,178 Valuation surplus on investment properties 114,828 428,510 Share of profits of associates and joint ventures 5(c) 647,524 930,192 Profit for the year before taxation 2 & 5 5,880,846 6,794,880
Tax expenses 6 (988,849) (908,153)
Profit for the year 4,891,997 5,886,727
Attributable to:
Equity shareholders of the Company 3,087,886 4,624,794
Non-controlling interests 1,804,111 1,261,933
Profit for the year 4,891,997 5,886,727
Earnings per share HK$ HK$
Basic 8 9.50 14.23
Diluted 8 9.50 14.23
Details of dividends payable to equity shareholders of the Company attributable to the profit for the year are set out in note 7.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 2016 2015 HK$'000 HK$'000 Profit for the year 4,891,997 5,886,727 Other comprehensive income for the year (after tax and reclassification adjustments)Items that will not be reclassified to profit or loss: Actuarial (losses)/gains on defined benefit obligation | (74,876) | 12,101 |
Surplus on revaluation of leasehold land and buildings | 330,912 | - |
256,036 | 12,101 | |
Items that may be reclassified subsequently to profit or loss: | ||
Exchange translation differences relating to financial statements | ||
of foreign subsidiaries, associates and joint ventures | (3,474,703) | (2,955,624) |
Exchange translation reserve reclassified to profit or loss | ||
upon disposal of subsidiaries | (430,757) | (46,264) |
Exchange translation reserve reclassified to profit or loss | ||
upon deemed disposal of associate | - | (15,721) |
Release of reserves upon liquidation of subsidiaries | - | (88,521) |
Changes in fair value of cash flow hedge | (45,857) | (22,489) |
Changes in fair value of available-for-sale financial assets | (1,819,769) | 872,501 |
Transfer to profit or loss on disposal of available-for-sale | ||
financial assets | - | 81,327 |
Release of valuation reserve upon disposal of properties | (171) | - |
Share of other comprehensive income of associates | 115,604 | 143,452 |
(5,655,653) | (2,031,339) | |
Other comprehensive income for the year, net of tax | (5,399,617) | (2,019,238) |
Total comprehensive income for the year | (507,620) | 3,867,489 |
Equity shareholders of the Company | (921,020) | 3,492,197 |
Non-controlling interests | 413,400 | 375,292 |
(507,620) | 3,867,489 |
NON-CURRENT ASSETS
Note HK$'000 HK$'000
Investment properties | 16,368,835 | 14,708,484 | |
Other property, plant and equipment | 13,093,736 | 14,556,234 | |
Interest in associates and joint ventures | 7,932,862 | 7,342,114 | |
Available-for-sale financial assets | 12,647,934 | 13,787,439 | |
Deferred tax assets | 383,007 | - | |
Intangible assets | 7,892,631 | 9,039,945 | |
Goodwill | 1,112,212 | 1,289,398 | |
Pensions surplus | 20,407 | 80,203 | |
59,451,624 | 60,803,817 | ||
CURRENT ASSETS | |||
Development properties | 12,309,519 | 24,853,204 | |
Properties held for sale | 5,881,436 | 7,906,293 | |
Trade and other receivables | 9 | 4,018,355 | 5,536,002 |
Trading financial assets | 13,495,039 | 7,549,450 | |
Cash and short term funds | 18,976,235 | 20,477,389 | |
Assets held for sale | - | 870,912 | |
54,680,584 | 67,193,250 | ||
CURRENT LIABILITIES | |||
Trade and other payables | 10 | 6,099,452 | 6,637,198 |
Bank loans and other borrowings | 14,653,395 | 12,078,105 | |
Taxation | 887,631 | 1,112,605 | |
Provisions and other liabilities | 103,197 | 131,723 | |
Liabilities held for sale | - | 567,946 | |
21,743,675 | 20,527,577 | ||
NET CURRENT ASSETS | 32,936,909 | 46,665,673 | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 92,388,533 | 107,469,490 | |
NON-CURRENT LIABILITIES | |||
Bank loans and other borrowings | 19,849,621 | 32,032,835 | |
Amount due to non-controlling interests | 1,207,626 | 970,471 | |
Provisions and other liabilities | 491,992 | 618,210 | |
Deferred tax liabilities | 381,238 | 529,729 | |
21,930,477 | 34,151,245 | ||
NET ASSETS | 70,458,056 | 73,318,245 | |
CAPITAL AND RESERVES | |||
Share capital | 1,276,582 | 1,275,414 | |
Reserves | 54,896,149 | 57,163,694 | |
Total equity attributable to equity shareholders of the Company | 56,172,731 | 58,439,108 | |
Non-controlling interests | 14,285,325 | 14,879,137 | |
TOTAL EQUITY | 70,458,056 | 73,318,245 |
Guoco Group Limited published this content on 30 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 August 2016 13:13:05 UTC.
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