STYLAND 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.
STYLAND HOLDINGS LIMITED 大 凌 集 團 有 限 公 司 *(Incorporated in Bermuda with limited liability)
(Stock Code: 211) (Warrant Code: 1535) ANNOUNCEMENT OF FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2016The board of directors (the "Directors") of Styland Holdings Limited (the "Company") (the "Board") is pleased to announce the audited consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 31 March 2016 ("FY2016") together with the comparative figures for the year ended 31 March 2015 ("FY2015") as follows:
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME2016 | 2015 | ||
Note | HK$'000 | HK$'000 | |
Turnover | 198,177 | 184,373 | |
Revenue | 5 | 68,534 | 57,885 |
Cost of sales | (5,869) | (4,788) | |
Gross profit | 62,665 | 53,097 | |
| 49,748 | 2,331 | |
| (63,533) | (42,397) | |
| (6,517) | (5,807) | |
| 30,000 | 30,000 | |
at fair value through profit or loss | (53,035) | 43,959 | |
at fair value through profit or loss | (3,601) | 15,393 | |
of trade receivables | (1,311) | - | |
financial instruments | 13 | 1,199 | - |
of loan receivables | (16,329) | (1,384) | |
in respect of loan receivables | 250 | 1,437 | |
| (5,299) | (2,548) |
For the year ended 31 March
* For identification purposes only
- 1 -
2016 | 2015 | |||
Note | HK$'000 | HK$'000 | ||
(Loss)/profit before taxation | 6 | (5,763) | 94,081 | |
| 7 | - | - | |
(Loss)/profit and total comprehensive income for the year | (5,763) | 94,081 | ||
Profit/(loss) and total comprehensive income for the year attributable to | ||||
| 1,247 | 94,081 | ||
| (7,010) | - | ||
(5,763) | 94,081 | |||
Earnings per share | ||||
| 9 | HK0.03 cents | HK2.51 cents | |
| 9 | HK0.03 cents | HK2.34 cents | |
As at 31 March
2016 | 2015 | |||
Note | HK$'000 | HK$'000 | ||
NON-CURRENT ASSETS | ||||
| 4,712 | 4,104 | ||
| 283,333 | 236,000 | ||
| 10 | 55,815 | 58,522 | |
| - | 4,356 | ||
| 3,386 | - | ||
| - | - | ||
347,246 | 302,982 | |||
CURRENT ASSETS | ||||
| 35 | 361 | ||
| 10 | 142,145 | 98,248 | |
| 11 | 26,082 | 47,389 | |
| 12 | 11,733 | 6,286 | |
profit or loss | 75,256 | 83,860 | ||
| 13 | 8,908 | - | |
| 615 | 615 | ||
| 50,068 | 74,031 | ||
| 6,249 | 6,307 | ||
| 135,833 | 117,522 | ||
456,924 | 434,619 | |||
CURRENT LIABILITIES | ||||
| 14 | 61,936 | 104,883 | |
| 7,379 | 5,196 | ||
| 13 | 7,709 | - | |
| - | 7,726 | ||
| 15 | 50,250 | - | |
| 118,148 | 98,519 | ||
245,422 | 216,324 | |||
NET CURRENT ASSETS | 211,502 | 218,295 | ||
TOTAL ASSETS LESS CURRENT LIABILITIES | 558,748 | 521,277 | ||
NET ASSETS | 558,748 | 521,277 | ||
CAPITAL AND RESERVES | ||||
| 43,530 | 38,906 | ||
| 521,778 | 481,921 | ||
EQUITY ATTRIBUTABLE TO THE OWNERS OF THE COMPANY | 565,308 | 520,827 | ||
NON-CONTROLLING INTERESTS | (6,560) | 450 | ||
TOTAL EQUITY | 558,748 | 521,277 | ||
GENERAL INFORMATION
The Company was incorporated in Bermuda on 31 July 1991 as an exempted company with limited liability under the Companies Act of Bermuda. The shares of the Company are listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The address of the registered office and principal place of business of the Company are Canon's Court, 22 Victoria Street, Hamilton HM12, Bermuda and 28th Floor, Aitken Vanson Centre, 61 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong respectively.
The consolidated financial statements are presented in Hong Kong dollar ("HK$"), which is also the functional currency of the Company. Figures are rounded up to the nearest thousand unless otherwise specified.
The Company acts as an investment holding company. The principal activities of its subsidiaries are financial services, mortgage financing, property development and investment and trading of securities.
BASIS OF PREPARATION
The consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRSs") issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA"). In addition, the consolidated financial statements include applicable disclosures required by the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") and by the disclosure requirement of the Hong Kong Companies Ordinance.
The consolidated financial statements have been prepared on the historical cost convention, as modified by the available-for-sale financial assets, and financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss and investment properties, which are carried at fair value. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
The preparation of consolidated financial statements in conformity with HKFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group's accounting policies. The area involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements, are disclosed in the notes to the consolidated financial statements.
APPLICATION OF NEW AND REVISED HKFRSs
New and revised standards, amendments and interpretations applied in the current year
The Group has adopted the following revised HKFRSs for the first time for its current year's consolidated
financial statements.
Amendment to HKAS 19 (2011) | Defined Benefit Plans: Employee Contributions |
Amendments to HKFRSs | Annual Improvements 2010-2012 Cycle |
Amendments to HKFRSs | Annual Improvements 2011-2013 Cycle |
The adoption of the revised HKFRSs has had no significant financial impact on these financial statements.
Styland Holdings Limited published this content on 29 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 June 2016 04:10:04 UTC.
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