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首 長 四 方( 集 團 )有 限 公 司 *
SHOUGANG CONCORD GRAND (GROUP) LIMITED(Incorporated in Bermuda with limited liability)
(Stock Code: 730)
INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2016 INTERIM RESULTSThe board of directors (the "Board") of Shougang Concord Grand (Group) 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 2016. These interim results have been reviewed by the Company's Audit Committee and its Auditor.
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFOR THE SIX MONTHS ENDED 30 JUNE 2016
Six months ended 30 JuneNOTES | 2016 HK$'000 (unaudited) | 2015 HK$'000 (unaudited) | |
Revenue | 3 | 60,427 | 25,217 |
Cost of sales | (38,230) | (16,231) | |
Gross profit | 22,197 | 8,986 | |
Other income | 4 | 7,070 | 1,564 |
Distribution costs and selling expenses | (428) | (1,151) | |
Administrative expenses Net (decrease) increase in fair value of investment properties | (14,249) (1,650) | (19,587) 6,435 | |
Changes in fair value of held-for-trading investments | (466) | 1,639 | |
Impairment loss on finance lease receivables | (1,671) | - | |
Finance costs | 5 | (133) | (473) |
Share of results of an associate | 300 | 8,752 |
NOTES | 2016 HK$'000 (unaudited) | 2015 HK$'000 (unaudited) | |
Profit before tax | 10,970 | 6,165 | |
Income tax expense | 6 | (4,304) | (935) |
Profit for the period | 7 | 6,666 | 5,230 |
Other comprehensive (expense) income: Items that will not be reclassified to profit or loss: Exchange differences on translation | (14,299) | 8 | |
Share of translation difference of an associate | (7,656) | 11 | |
(21,955) | 19 | ||
Item that may be reclassified subsequently to profit or loss: Share of investment revaluation reserve of | |||
an associate | (1,309) | (8,659) | |
(23,264) | (8,640) | ||
Total comprehensive expense for the period | (16,598) | (3,410) | |
Profit (loss) for the period attributable to: Owners of the Company | 2,327 | 5,246 | |
Non-controlling interests | 4,339 | (16) | |
6,666 | 5,230 | ||
Total comprehensive (expense) income for the period attributable to: Owners of the Company | (17,459) | (3,394) | |
Non-controlling interests | 861 | (16) | |
(16,598) | (3,410) | ||
Earnings per share Basic (HK cents) | 8 | 0.09 | 0.45 |
Diluted (HK cents) | 0.09 | 0.45 |
AT 30 JUNE 2016
NOTES | 30 June 2016 HK$'000 (unaudited) | 31 December 2015 HK$'000 (audited) | |
Non-current assets Property, plant and equipment | 9 | 17,028 | 17,515 |
Investment properties | 10 | 124,895 | 126,912 |
Goodwill | 11 | 52,935 | 52,935 |
Interests in associates | 12 | 286,299 | 294,964 |
Finance lease receivables | 13 | 1,206,189 | 1,450,479 |
Available-for-sale investments | 4,885 | 4,942 | |
Restricted bank deposits | 19(iii) | 25,200 | 25,496 |
Deferred tax assets | 9,822 | 10,448 | |
1,727,253 | 1,983,691 | ||
Current assets Inventories | 3,468 | 3,200 | |
Amount due from an associate | 388 | 388 | |
Finance lease receivables | 13 | 668,338 | 715,778 |
Entrusted loan payment receivable | 14 | - | 75,477 |
Trade receivables | 15 | 29 | 81 |
Prepayments, deposits and other receivables | 6,947 | 8,078 | |
Held-for-trading investments | 4,433 | 4,916 | |
Structured deposits | 16 | 106,977 | 90,588 |
Restricted bank deposits | 19(iii) | 10,849 | 9,704 |
Bank balances and cash | 417,199 | 439,651 | |
1,218,628 | 1,347,861 |
NOTES | 30 June 2016 HK$'000 (unaudited) | 31 December 2015 HK$'000 (audited) | |
Current liabilities Other payables and accruals | 37,986 | 57,728 | |
Income received in advance Rental and management fee received in advance and other deposits received | 6,672 824 | 7,666 997 | |
Tax liabilities | 11,315 | 8,261 | |
Secured bank borrowings - due within one year | 17 | 488,003 | 590,561 |
Security deposits received - due within one year | 13 | 7,067 | 10,150 |
551,867 | 675,363 | ||
Net current assets | 666,761 | 672,498 | |
Total assets less current liabilities | 2,394,014 | 2,656,189 | |
Capital and reserves Share capital | 18 | 26,722 | 26,722 |
Retained earnings | 602,983 | 600,072 | |
Other reserves | 707,416 | 727,786 | |
Equity attributable to owners of the Company | 1,337,121 | 1,354,580 | |
Non-controlling interests | 282,307 | 281,446 | |
Total equity | 1,619,428 | 1,636,026 | |
Non-current liabilities Income received in advance | 6,823 | 9,644 | |
Secured bank borrowings - due after one year | 17 | 716,676 | 957,878 |
Security deposits received - due after one year | 13 | 51,087 | 52,641 |
774,586 | 1,020,163 | ||
Total equity and liabilities | 2,394,014 | 2,656,189 |
Shougang Concord Grand (Group) Ltd. published this content on 25 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2016 11:24:03 UTC.
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