MAN WAH 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.
MANWAH MAN WAH HOLDINGS LIMITED敏華控股有限公司
(Incorporated in Bermuda with limited liability)
(Stock Code: 01999) INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2017 AND CLOSURE OF REGISTER OF MEMBERS INTERIM RESULTSThe board of directors (the "Board") of Man Wah Holdings Limited (the "Company") is pleased to announce the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 September 2017 ("1HFY2018" or the "Review Period"). These interim results have been reviewed by the Company's audit committee ("Audit Committee").
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFOR THE SIX MONTHS ENDED 30 SEPTEMBER 2017
Six months ended 30 SeptemberNOTES | 2017 HK$'000 (Unaudited) | 2016 HK$'000 (Unaudited) | ||
Revenue | 3 | 4,626,881 | 3,593,018 | |
Cost of goods sold | (2,854,174) | (2,059,467) | ||
Gross profit | 1,772,707 | 1,533,551 | ||
Other income | 194,186 | 71,312 | ||
Other gains and losses | 4 | (34,721) | 83,922 | |
Selling and distribution expenses | (740,562) | (516,503) | ||
Administrative expenses | (206,010) | (168,795) | ||
Finance costs | (9,678) | (2,116) | ||
Profit before income tax | 975,922 | 1,001,371 | ||
Income tax expense | 5 | (176,029) | (114,125) | |
Profit for the period | 6 | 799,893 | 887,246 | |
Other comprehensive income: | ||||
Item that may be subsequently reclassified to profit or loss: | ||||
Exchange differences arising on translation of | ||||
financial statements of foreign operations | 209,329 | (157,085) | ||
Item that will not be subsequently reclassified to profit or loss: Increase in fair value of property, plant and equipment, | ||||
net of deferred tax | 3,578 | 28,218 | ||
Total comprehensive income for the period | 1,012,800 | 758,379 | ||
Profit for the period attributable to: | ||||
Owners of the Company | 793,046 | 883,585 | ||
Non-controlling interest | 6,847 | 3,661 | ||
799,893 | 887,246 | |||
Total comprehensive income for the period attributable to: | ||||
Owners of the Company | 967,688 | 754,975 | ||
Non-controlling interest | 45,112 | 3,404 | ||
1,012,800 | 758,379 | |||
Earnings per share | 7 | |||
Basic (HK cents) | 20.75 | 22.95 | ||
Diluted (HK cents) | 20.65 | 22.82 | ||
AT 30 SEPTEMBER 2017
NOTES | 30 September 2017 HK$'000 (Unaudited) | 31 March 2017 HK$'000 (Audited and restated) | |
Non-current assets Property, plant and equipment | 9 | 2,471,495 | 2,267,824 |
Investment properties | 9 | 188,297 | 170,781 |
Lease premium for land | 520,878 | 451,219 | |
Goodwill | 145,978 | 129,177 | |
Other intangible assets Interest in a joint venture Deferred tax assets | 202,671 - 3,601 | 189,994 - 2,589 | |
Properties under development | 205,086 | 384,481 | |
Refundable earnest money paid for lease premium for land | - | 3,815 | |
Deposit paid for a land lease | 15,685 | 11,280 | |
Deposits paid for acquisition of property, plant and equipment | 104,838 | 79,612 | |
3,858,529 | 3,690,772 | ||
Current assets Inventories | 831,486 | 749,253 | |
Properties under development | 241,811 | - | |
Trade receivables | 10 | 719,789 | 639,674 |
Other receivables and prepayments | 10 | 416,907 | 235,129 |
Lease premium for land | 12,531 | 9,648 | |
Held for trading investments | 159,851 | 367,862 | |
Tax recoverable | 5,742 | 1,744 | |
Restricted bank balances | 7,087 | 9,364 | |
Bank balances and cash | 1,550,180 | 1,808,298 | |
3,945,384 | 3,820,972 | ||
Current liabilities Trade payables | 11 | 509,665 | 427,780 |
Other payables and accruals | 11 | 608,955 | 485,312 |
Receipt in advance from sales of properties under development | 12,407 | - | |
Variable-rate bank borrowings | 12 | 753,544 | 1,047,636 |
Tax payable | 83,791 | 64,636 | |
1,968,362 | 2,025,364 | ||
Net current assets | 1,977,022 | 1,795,608 | |
Total assets less current liabilities | 5,835,551 | 5,486,380 |
NOTES | 30 September 2017 HK$'000 (Unaudited) | 31 March 2017 HK$'000 (Audited and restated) | |
Non-current liabilities Variable-rate borrowings | 12 | 26,773 | 27,294 |
Deferred tax liabilities | 49,519 | 42,830 | |
Other non-current liabilities | 5,030 | 7,337 | |
81,322 | 77,461 | ||
5,754,229 | 5,408,919 | ||
Capital and reserves Share capital | 1,523,984 | 1,530,256 | |
Reserves | 3,814,756 | 3,508,286 | |
Equity attributable to owners of the Company | 5,338,740 | 5,038,542 | |
Non-controlling interest | 415,489 | 370,377 | |
5,754,229 | 5,408,919 |
Man Wah Holdings Limited published this content on 15 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 November 2017 06:44:03 UTC.
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