SILVER BASE GROUP 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 the Cayman Islands with limited liability)
(Stock Code: 886) ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 MARCH 2016 FINANCIAL HIGHLIGHTSRevenue was approximately HK$1,260.2 million
•
Gross profit was approximately HK$234.0 million
•
Profit for the year attributable to ordinary equity holders of the Company was
approximately HK$130.4 million
•
Earnings per share (approximately)
Basic HK8.95 cents Diluted HK8.84 cents
•
The Board does not recommend the payment of a final dividend for the year
ended 31 March 2016
The Board resolved to recommend a bonus issue of shares of the Company on the basis of one bonus
share for every two existing shares held. Details of the Bonus Issue were disclosed in the announcement of the Company dated 14 June 2016.
RESULTSThe board (the "Board") of directors (the "Directors") of Silver Base Group Holdings Limited (the "Company") hereby announce the consolidated results of the Company and its subsidiaries (collectively, the "Group") for the year ended 31 March 2016, together with the comparative figures for the previous year in 2015, as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSSYear ended 31 March 2016
Notes | 2016 HK$'000 | 2015 HK$'000 | |
REVENUE | 5 | 1,260,232 | 418,865 |
Cost of sales | (1,026,253) | (336,182) | |
Gross profit | 233,979 | 82,683 | |
Other income and gains, net | 5 | 77,463 | 1,084 |
Selling and distribution expenses | (180,752) | (180,141) | |
Administrative expenses | (103,223) | (110,719) | |
Write-back of impairment, net | 17,843 | 170,948 | |
Finance costs | 6 | (25,511) | (30,808) |
PROFIT/(LOSS) BEFORE TAX | 7 | 19,799 | (66,953) |
Income tax credit | 8 | 110,550 | 47,516 |
PROFIT/(LOSS) FOR THE YEAR | 130,349 | (19,437) | |
ATTRIBUTABLE TO: ORDINARY EQUITY HOLDERS | |||
OF THE COMPANY | 130,408 | (19,098) | |
NON-CONTROLLING INTERESTS | (59) | (339) | |
130,349 | (19,437) | ||
EARNINGS/(LOSS) PER SHARE |
Basic (HK cents) | 10 | 8.95 | (1.41) |
Diluted (HK cents) | 10 | 8.84 | (1.41) |
Year ended 31 March 2016
2016 2015HK$'000 HK$'000
PROFIT/(LOSS) FOR THE YEAR 130,349 (19,437) OTHER COMPREHENSIVE INCOME/(LOSS)Other comprehensive income/(loss) to be reclassified/ reclassified to profit or loss in subsequent periods:
Exchange differences on translation
of foreign operations (45,654) 1,093 Realisation of exchange fluctuation
reserve upon dissolution of subsidiaries (186) 150
Net other comprehensive income/(loss)
to be reclassified/reclassified to profit or loss
in subsequent periods (45,840) 1,243
OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE YEAR, NET OF TAX (45,840) 1,243 TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE YEAR 84,509 (18,194) ATTRIBUTABLE TO: ORDINARY EQUITY HOLDERSOF THE COMPANY | 84,568 | (17,855) |
NON-CONTROLLING INTERESTS | (59) | (339) |
31 March 2016
Notes | 2016 HK$'000 | 2015 HK$'000 | ||
NON-CURRENT ASSETS | ||||
Property, plant and equipment | 9,674 | 12,829 | ||
Investment property | - | 6,711 | ||
Intangible asset | 8,300 | 8,300 | ||
Deposits | 2,561 | 3,277 | ||
Total non-current assets | 20,535 | 31,117 | ||
CURRENT ASSETS | ||||
Property held for sale | 9,606 | - | ||
Inventories | 692,837 | 758,305 | ||
Trade receivables | 11 | 23,013 | 1,155 | |
Bills receivable | 11 | 48,249 | 74,613 | |
Prepayments, deposits and other receivables | 853,956 | 366,263 | ||
Pledged deposits | 75,000 | 15,150 | ||
Cash and cash equivalents | 300,709 | 170,058 | ||
Total current assets | 2,003,370 | 1,385,544 | ||
CURRENT LIABILITIES | ||||
Trade payables | 12 | 10,143 | 3,857 | |
Bills payable | 12 | 615,000 | - | |
Deposits received, other payables and accruals | 240,544 | 168,254 | ||
Bank advance for discounted bills | 28,800 | 73,540 | ||
Interest-bearing bank and other borrowings | 222,000 | 453,897 | ||
Due to related parties | 160 | 4,313 | ||
Due to directors | 1,251 | 28,872 | ||
Tax payable | 64,841 | 171,954 | ||
Total current liabilities | 1,182,739 | 904,687 | ||
NET CURRENT ASSETS | 820,631 | 480,857 | ||
TOTAL ASSETS LESS CURRENT | ||||
LIABILITIES | 841,166 | 511,974 | ||
NON-CURRENT LIABILITY | ||||
Bond payables | 13,997 | - | ||
Net assets | 827,169 | 511,974 | ||
EQUITY | ||||
Equity attributable to ordinary equity | ||||
holders of the Company | ||||
Issued capital | 13 | 151,521 | 134,921 | |
Reserves | 676,701 | 378,047 | ||
828,222 | 512,968 | |||
Non-controlling interests | (1,053) | (994) | ||
Total equity | 827,169 | 511,974 | ||
Silver Base Group Holdings Ltd. published this content on 27 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 July 2016 15:28:08 UTC.
Original documenthttp://www.silverbase.com.cn/asset/LTN20160627777.pdf
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