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.

MANWAH MAN WAH HOLDINGS LIMITED

敏華控股有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 01999) ANNOUNCEMENT OF FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2017 AND CLOSURE OF REGISTER OF MEMBER

The board (the "Board") of directors (the "Directors") of Man Wah Holdings Limited (the "Company") is pleased to announce the audited consolidated financial results of the Company and its subsidiaries (the "Group") for the financial year ended 31 March 2017 ("FY2017", "Current FY", the "Review Period" or the "Reporting Period") together with the comparative figures for the previous financial year ended 31 March 2016 ("FY2016", "Last Corresponding Period" or the "Last FY").

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the year ended 31 March 2017

NOTES

2017

HK$'000

2016

HK$'000

Revenue

3

7,779,015

7,327,590

Cost of goods sold

(4,520,832)

(4,431,563)

Gross profit

3,258,183

2,896,027

Other income

159,752

175,927

Other gains and losses

184,001

4,457

Selling and distribution expenses

(1,173,878)

(1,229,313)

Administrative expenses

(365,441)

(344,913)

Share of loss of a joint venture

-

(221)

Finance costs

(10,271)

(11,964)

Profit before income tax

2,052,346

1,490,000

Income tax expense

4

(293,222)

(150,182)

Profit for the year

5

1,759,124

1,339,818

Other comprehensive (expense) income:

Items that may be reclassified subsequently to profit or loss:

Exchange differences arising on translation of financial statements of foreign operations

(305,526)

(216,966)

Items that will not be reclassified subsequently to profit or loss:

Increase in fair value of property, plant and equipment

21,786

517

Total comprehensive income for the year

1,475,384

1,123,369

Profit for the year attributable to:

Owners of the Company

1,752,370

1,327,244

Non-controlling interest

6,754

12,574

1,759,124

1,339,818

Total comprehensive income for the year attributable to: Owners of the Company

1,467,215

1,111,431

Non-controlling interest

8,169

11,938

1,475,384

1,123,369

2017

HK cents

2016

HK cents (restated)

Earnings per share

Basic

6

45.64

34.15

Diluted

45.47

33.89

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 31 March 2017

2017 2016

NOTES HK$'000 HK$'000

Non-current assets

Property, plant and equipment

2,267,824

2,033,774

Investment properties

170,781

52,156

Lease premium for land

451,219

318,598

Goodwill

137,573

-

Other intangible assets

169,004

382

Interest in a joint venture

-

-

Available-for-sale investment

-

1,794

Deferred tax assets

2,589

1,246

Properties under development

384,481

304,043

Refundable earnest money paid for lease

premium for land

3,815

4,045

Deposit paid for a land lease

11,280

38,489

Deposits paid for acquisition of property,

plant and equipment

79,612

52,059

3,678,178

2,806,586

Current assets

Inventories

749,253

607,199

Trade receivables

8

639,674

590,609

Other receivables and prepayments

235,129

153,530

Lease premium for land

9,648

7,386

Held for trading investments

367,862

-

Tax recoverable

1,744

5,102

Structured deposits

-

26,313

Restricted bank balances

9,364

875

Bank balances and cash

1,808,298

1,447,508

3,820,972

2,838,522

Current liabilities Trade payables

9

427,780

266,529

Other payables and accruals

485,312

374,912

Variable-rate bank borrowings

1,047,636

250,000

Tax payable

64,636

40,034

2,025,364

931,475

Net current assets

1,795,608

1,907,047

Total assets less current liabilities

5,473,786

4,713,633

2017

HK$'000

2016

HK$'000

Non-current liabilities

Variable-rate borrowings

27,294

-

Deferred tax liabilities

42,830

3,280

Other non-current liabilities

7,337

-

77,461

3,280

5,396,325

4,710,353

Capital and reserves Share capital

1,530,256

774,745

Reserves

3,508,286

3,937,591

Equity attributable to owners of the Company

5,038,542

4,712,336

Non-controlling interest

357,783

(1,983)

5,396,325

4,710,353

Man Wah Holdings Limited published this content on 24 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 May 2017 04:05:13 UTC.

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