Success Universe : Announcement of Final Results for the Year Ended 31 December 2016
March 30, 2017 at 08:55 am EDT
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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 Bermuda with limited liability)
(Stock Code: 00487)
ANNOUNCEMENT OF FINAL RESULTS
FOR THE YEAR ENDED 31 DECEMBER 2016
RESULTS
The board of directors (the "Board") of Success Universe Group Limited (the "Company") announces that the consolidated results of the Company and its subsidiaries (collectively the "Group") for the year ended 31 December 2016, with the comparative figures for the year ended 31 December 2015, are as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
For the year ended 31 December 2016
Notes
2016
HK$'000
2015
HK$'000
Revenue
3, 4
573,132
1,010,669
Cost of sales
(547,030)
(973,492)
Gross profit
26,102
37,177
Other revenue and gains
5
23,569
26,216
Administrative expenses
(97,017)
(95,507)
Selling expenses
(2,463)
(6,496)
Other operating expenses
6(c)
(3,185)
(2,247)
Loss from operations
(52,994)
(40,857)
Finance costs
6(a)
(2,079)
(601)
Share of results of joint ventures
495
527
Share of results of associates
17,513
29,288
Loss before taxation
6
(37,065)
(11,643)
Taxation
7
-
-
Loss for the year
(37,065)
(11,643)
Attributable to:
Owners of the Company
(30,977)
(6,670)
Non-controlling interests
(6,088)
(4,973)
Loss for the year
(37,065)
(11,643)
Loss per share
- Basic
9
(0.63) HK cents
(0.14) HK cents
- Diluted
(0.63) HK cents
(0.14) HK cents
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 31 December 2016
2016 2015
HK$'000 HK$'000
Loss for the year (37,065) (11,643)
Other comprehensive loss
Item that may be reclassified subsequently to profit or loss:
Exchange differences on translation of financial
statements of overseas subsidiaries
(2,250)
(6,768)
Total other comprehensive loss for the year, net of tax
(2,250)
(6,768)
Total comprehensive loss for the year
(39,315)
(18,411)
Attributable to:
Owners of the Company
(32,654)
(11,764)
Non-controlling interests
(6,661)
(6,647)
Total comprehensive loss for the year
(39,315)
(18,411)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 December 2016
Note
2016
HK$'000
2015
HK$'000
NON-CURRENT ASSETS
Property, plant and equipment
37,904
22,138
Intangible assets
8,021
10,833
Investment property
10
191,708
-
Interests in associates
543,621
967,108
Interests in joint ventures
3,884
4,089
785,138
1,004,168
CURRENT ASSETS
Amount due from an associate
294,420
-
Trade and other receivables
11
35,014
56,832
Pledged bank deposits
9,353
9,598
Cash and cash equivalents
64,509
81,784
Tax recoverable
-
897
403,296
149,111
CURRENT LIABILITIES
Trade and other payables
12
17,604
29,483
Deferred income
245
339
Bank loan
13
122,500
-
Financial guarantee contract
10,000
19,995
150,349
49,817
NET CURRENT ASSETS
252,947
99,294
TOTAL ASSETS LESS CURRENT LIABILITIES
1,038,085
1,103,462
Success Universe Group Limited published this content on 30 March 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 March 2017 12:54:21 UTC.
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Success Universe Group Limited is an investment holding company principally engaged in travel businesses. The Company operates through two segments. The Travel segment is engaged in the sales of air tickets and the provision of travel-related services. The Property Investment Business segment is engaged in the receiving rental streams form leasing office premises and sale of properties in Hong Kong.