HONG KONG FINANCE 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.
Hong Kong Finance Group Limited香 港 信 貸 集 團 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1273) ANNOUNCEMENT OF FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2017Financial Highlights | Year ended 31 March | ||
2017 2016 HK$'million HK$'million | Change | ||
Revenue Profit and total comprehensive income for the year attributable to owners of the Company | 103.7 111.3 46.3 48.1 | (6.8)% (3.7)% | |
Net profit margin (%) | 44.6 43.2 | 1.4pt | |
Net interest margin (%) | 12.0 14.3 | (2.3)pt | |
Basic earnings per share (HK cents) | 11.2 11.6 | (3.4)% | |
Diluted earnings per share (HK cents) | 11.2 11.6 | (3.4)% | |
Paid interim dividends per share (HK cents) | 1.6 1.9 | ||
Proposed final dividends per share (HK cents) | 1.1 1.6 | ||
As at 31 March | |||
2017 HK$'million | 2016 HK$'million | ||
Loans receivable, net of provision | 819.0 | 674.1 | 21.5% |
Total assets | 1,006.9 | 854.6 | 17.8% |
Total equity | 496.6 | 463.0 | 7.3% |
The board of directors (the "Board" or "Directors") of Hong Kong Finance Group Limited (the "Company" or "our Company") is pleased to announce the audited consolidated final results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 31 March 2017 prepared in accordance with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (the "Listing Rules"), together with the comparative figures for the corresponding period in 2016.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEFor the year ended 31 March 2017
Year ended 31 March | ||||
2017 | 2016 | |||
Note | HK$'000 | HK$'000 | ||
Revenue | 4, 5 | 103,658 | 111,273 | |
Other income | 5 | 2,032 | 2,127 | |
Fair value gains on revaluation of investment properties | 9,960 | - | ||
Administrative expenses | 6 | (38,820) | (36,448) | |
Operating profit | 76,830 | 76,952 | ||
Finance costs | 7 | (22,167) | (19,309) | |
Profit before income tax | 54,663 | 57,643 | ||
Income tax expense | 8 | (8,364) | (9,582) | |
Profit and total comprehensive income for the year attributable to owners of the Company | 46,299 | 48,061 | ||
Earnings per share for profit attributable to owners of the Company | ||||
- Basic (HK cents) | 9(a) | 11.2 | 11.6 | |
- Diluted (HK cents) | 9(b) | 11.2 | 11.6 | |
As at 31 March 2017
As at 31 March | ||||
2017 | 2016 | |||
Note | HK$'000 | HK$'000 | ||
ASSETS | ||||
Non-current assets | ||||
Property, plant and equipment | 81,529 | 60,660 | ||
Investment properties | 64,530 | 76,860 | ||
Available-for-sale investment | 625 | 625 | ||
Loans receivable | 11 | 59,039 | 97,527 | |
Other asset | 1,100 | - | ||
Deferred income tax assets | 266 | 87 | ||
Total non-current assets | 207,089 | 235,759 | ||
Current assets | ||||
Loans receivable | 11 | 760,003 | 576,529 | |
Interest receivables | 12 | 17,887 | 15,197 | |
Prepayments, deposits and other receivables | 5,195 | 987 | ||
Repossessed asset | - | 5,306 | ||
Tax recoverable | 1,461 | - | ||
Cash and cash equivalents | 15,298 | 20,791 | ||
Total current assets | 799,844 | 618,810 | ||
Total assets | 1,006,933 | 854,569 | ||
EQUITY | ||||
Equity attributable to the owners of the Company | ||||
Share capital | 4,150 | 4,150 | ||
Reserves | 492,430 | 458,819 | ||
Total equity | 496,580 | 462,969 | ||
As at 31 March | ||||
2017 | 2016 | |||
Note | HK$'000 | HK$'000 | ||
LIABILITIES | ||||
Current liabilities | ||||
Trade and other payables | 6,972 | 5,544 | ||
Amount due to a fellow subsidiary | 16(b) | 69,700 | 88,951 | |
Tax payable | - | 2,423 | ||
Bank and other borrowings | 13 | 315,752 | 179,251 | |
Total current liabilities | 392,424 | 276,169 | ||
Non-current liabilities | ||||
Bonds | 14 | 113,797 | 111,451 | |
Deferred income tax liabilities | 4,132 | 3,980 | ||
Total non-current liabilities | 117,929 | 115,431 | ||
Total liabilities | 510,353 | 391,600 | ||
Total equity and liabilities | 1,006,933 | 854,569 | ||
Net current assets | 407,420 | 342,641 | ||
Total assets less current liabilities | 614,509 | 578,400 | ||
Hong Kong Finance Group Ltd. published this content on 27 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 June 2017 12:09:19 UTC.
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