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Portico International Holdings Limited

寶國國際控股有限公司*

(Incorporated in Bermuda with limited liability) (Stock Code: 0589)

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017 INTERIM RESULTS HIGHLIGHTS

  • Total revenue for 1H2017 was RMB1,052.4 million, increased by 17.9% as compared with the corresponding period in 2016

  • Gross profit margin for 1H2017 increased to 79.7% (1H2016: 78.9%)

  • Profit attributable to equity shareholders for 1H2017 was RMB5.5 million (1H2016: RMB 4.5 million), increased by 22.2%

  • Earnings per share remained at RMB0.01

  • No interim dividend was declared

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017 ("1H2017")

The board of directors (the "Board") of Portico International Holdings Limited (the "Company") is pleased to announce the unaudited condensed consolidated interim results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2017 with comparative figures for the same period ended 2016 ("1H2016") as follows:

*for identification purpose only

Six months ended 30 June

Note

2017

2016

RMB'000

RMB'000

Revenue

3

1,052,436

892,696

Cost of sales

(213,882)

(188,500)

Gross profit

838,554

704,196

Other revenue

4(a)

10,861

4,859

Other net expense

4(b)

(157)

(351)

Selling and distribution expenses

(567,095)

(503,872)

Administrative expenses

(56,116)

(57,720)

Other operating expenses

4(c)

(176,944)

(115,902)

Profit from operations

49,103

31,210

Finance income

5,235

9,642

Finance costs

(3,426)

(3,960)

Net finance income

5(a)

1,809

5,682

-------------

-------------

Profit before taxation

5

50,912

36,892

Income tax

6

(43,375)

(30,932)

Profit for the period

7,537

5,960

Other comprehensive income for the period (after tax and reclassification adjustments):

Items that may be reclassified subsequently to profit or loss:

Exchange differences on translation of foreign operations

5,608

(3,350)

Total comprehensive income for the period

13,145

2,610

Profit attributable to:

Equity shareholders of the Company

5,456

4,465

Non-controlling interests

2,081

1,495

Profit for the period

7,537

5,960

Total comprehensive income attributable to:

Equity shareholders of the Company

11,131

723

Non-controlling interests

2,014

1,887

Total comprehensive income for the period

13,145

2,610

Earnings per share (RMB cents)

Basic

7(a)

1

1

Diluted

7(b)

1

1

Consolidated statement of profit or loss and other comprehensive income for the six months ended 30 June 2017 - unaudited

(Expressed in Renminbi)

at 30 June 2017 - unaudited

(Expressed in Renminbi)

Note

At 30 June

2017

At 31 December

2016

RMB'000

RMB'000

Non-current assets

Lease prepayments

22,003

22,251

Investment properties

8

13,484

-

Other property, plant and equipment

8

373,494

451,630

Intangible assets

2,325

2,447

Interest in an associate

3,019

3,121

Deferred tax assets

211,258

198,956

625,583

678,405

-------------

-------------

Current assets

Other financial assets

9

59,799

1,661

Inventories

758,257

800,282

Trade and other receivables

10

455,176

445,592

Pledged bank deposits

78,830

59,487

Fixed deposits with banks with original maturity over three months

285,062

275,461

Cash and cash equivalents

351,331

374,472

1,988,455

1,956,955

-------------

-------------

Current liabilities

Trade and other payables

12

366,676

404,377

Bank loans

13

1,688

1,688

Current taxation

30,144

41,210

398,508

447,275

-------------

-------------

Net current assets

1,589,947

1,509,680

-------------

-------------

Total assets less current liabilities

2,215,530

2,188,085

-------------

-------------

at 30 June 2017 - unaudited (continued)

(Expressed in Renminbi)

Note

At 30 June

2017

At 31 December

2016

RMB'000

RMB'000

Non-current liabilities

Trade and other payables

12

127,041

115,330

Bank loans

13

2,954

3,798

Deferred tax liabilities

9,072

6,289

139,067

125,417

-------------

-------------

Net assets

2,076,463

2,062,668

Capital and reserves

Share capital

1,474

1,474

Reserves

2,048,013

2,036,882

Total equity attributable to equity shareholders of the Company

2,049,487

2,038,356

Non-controlling interests

26,976

24,312

Total equity

2,076,463

2,062,668

Portico International Holdings Ltd. published this content on 25 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2017 09:12:02 UTC.

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