HUABAO INTERNATIONAL 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.
(Incorporated in Bermuda with limited liability)
(Stock code: 00336) ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 MARCH 2016 FINANCIAL HIGHLIGHTSCompared with last financial year:
Sales decreased by approximately 9.2% to HKD3,928,217,000
Gross profit decreased by approximately 10.6%, gross profit margin remained stable
Operating profit decreased by approximately 24.7% to HKD1,748,103,000
Profit attributable to the equity holders of the Company decreased by approximately 27.0% to HKD1,450,250,000
Basic earnings per share decreased by approximately 27.1% to HK46.69 cents
Net cash+ reached HKD3,503,706,000, increased by approximately 21.8% as compared with 31 March 2015
The Board does not recommend the payment of any final dividend for the year ended 31 March 2016
+ "Net cash "means "Restricted bank deposit" plus "Short-term time deposits" and "Cash and cash equivalents" and minus "Borrowings".
* For identification purpose only
TABLE OF FINANCIAL HIGHLIGHTS For the year ended 31 March Change in2016 | 2015 | percentage |
HK$'000 | HK$'000 |
Sales | 3,928,217 | 4,326,486 | -9.2% |
Gross profit | 2,705,176 | 3,025,317 | -10.6% |
Gross profit margin | 68.9% | 69.9% | |
Operating profit | 1,748,103 | 2,320,145 | -24.7% |
EBIT margin | 44.5% | 53.6% | |
Profit before income tax | 1,832,915 | 2,386,247 | -23.2% |
Profit attributable to the equity holders of the Company | 1,450,250 | 1,986,584 | -27.0% |
Net cash+ | 3,503,706 | 2,875,813 | +21.8% |
Earnings per share
- Basic | 46.69 HK cents | 64.02 HK cents | -27.1% |
- Diluted | 46.66 HK cents | 63.93 HK cents | -27.0% |
Interim and final dividend per share | - HK cents | 9.52 HK cents | |
Special dividend per share | - HK cents | 22.20 HK cents |
The board of directors (the "Board") of Huabao International Holdings Limited (the "Company" or "Huabao") is pleased to announce the audited annual results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 31 March 2016 together with the comparative figures for the year ended 31 March 2015.
CONSOLIDATED INCOME STATEMENT Year ended 31 March 2016 2015Sales | Note 2 | HK$'000 3,928,217 | HK$'000 4,326,486 |
Cost of goods sold | 3 | (1,223,041) | (1,301,169) |
Gross profit | 2,705,176 | 3,025,317 | |
Other income and other gains - net | 4 | 197,427 | 263,205 |
Selling and marketing expenses | 3 | (253,346) | (204,650) |
Administrative expenses | 3 | (901,154) | (763,727) |
Operating profit | 1,748,103 | 2,320,145 | |
Finance income | 85,973 | 83,095 | |
Finance costs | (12,558) | (13,988) | |
Finance income - net | 5 | 73,415 | 69,107 |
Share of profit/(loss) of associates and a jointly controlled entity | 11,397 | (3,005) | |
Profit before income tax | 1,832,915 | 2,386,247 | |
Income tax expense | 6 | (365,380) | (391,054) |
Profit for the year | 1,467,535 | 1,995,193 | |
Attributable to: Equity holders of the Company | 1,450,250 | 1,986,584 | |
Non-controlling interests | 17,285 | 8,609 | |
1,467,535 | 1,995,193 | ||
Earnings per share for profit attributable to the Company's equity holders for the year | |||
- Basic (HK cents) | 7(a) | 46.69 | 64.02 |
- Diluted (HK cents) | 7(b) | 46.66 | 63.93 |
2016 HK$'000 | 2015 HK$'000 | |
Profit for the year | 1,467,535 | 1,995,193 |
Other comprehensive income: Items that may be reclassified to profit or loss Fair value changes on available-for-sale financial assets, net of tax | (9,451) | 13,461 |
Transfer of reserves to income statement upon sale of available-for-sale financial assets, net of tax | (8,392) | - |
Currency translation differences on foreign operations | (472,346) | 6,341 |
Other comprehensive income for the year, net of tax | (490,189) | 19,802 |
Total comprehensive income for the year, net of tax | 977,346 | 2,014,995 |
Total comprehensive income attributable to: Equity holders of the Company | 971,149 | 2,006,322 |
Non-controlling interests | 6,197 | 8,673 |
977,346 | 2,014,995 |
Huabao International Holdings Limited published this content on 22 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 June 2016 06:10:01 UTC.
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