TINGYI CAYMAN ISLANDS HOLDING CORP Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibilities 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.
康 師 傅 控 股 有 限 公 司 *
TINGYI (CAYMAN ISLANDS) HOLDING CORP.(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 0322) FIRST QUARTERLY RESULTS FOR THE THREE MONTHS ENDED 31ST MARCH 2016 SUMMARYFor the three months ended 31 March | ||||
US$'000 | 2016 | 2015 | Change | |
‧ | Revenue | 2,099,694 | 2,321,179 | ↓9.54% |
‧ | Gross margin | 31.43% | 31.66% | ↓0.23 ppt. |
‧ | Gross profit of the Group | 659,939 | 734,870 | ↓10.20% |
‧ | EBITDA | 281,615 | 329,724 | ↓14.59% |
‧ | Profit for the period | 73,546 | 133,777 | ↓45.02% |
‧ | Profit attributable to owners of the Company | 58,010 | 107,014 | ↓45.79% |
‧ | Earnings per share (US cents) | |||
Basic | 1.04 | 1.91 | ↓0.87 cents | |
Diluted | 1.04 | 1.91 | ↓0.87 cents | |
At 31 March 2016, cash and cash equivalents was US$1,676.795 million, an increase of US$653.095 million when compared to 31 December 2015. Gearing ratio was 0.23 times. | ||||
The Board of Directors of Tingyi (Cayman Islands) Holding Corp. (the "Company") is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (the "Group") for the three months ended 31 March 2016 together with the comparative figures for the corresponding period in 2015. These unaudited condensed consolidated first quarterly financial statements have been reviewed by the Company's Audit Committee.
CONDENSED CONSOLIDATED INCOME STATEMENTFor the Three Months Ended 31 March 2016
For the three months ended 31 March | ||||
2016 | 2015 | |||
(Unaudited) | (Unaudited) | |||
Note | US$'000 | US$'000 | ||
Revenue | 2 | 2,099,694 | 2,321,179 | |
Cost of sales | (1,439,755) | (1,586,309) | ||
Gross profit | 659,939 | 734,870 | ||
Other revenue and other net income | 36,056 | 25,049 | ||
Distribution costs | (425,467) | (430,935) | ||
Administrative expenses | (82,731) | (82,360) | ||
Other operating expenses | (61,101) | (37,703) | ||
Finance costs | 5 | (16,493) | (15,008) | |
Share of results of associates and joint ventures | 5,701 | 3,697 | ||
Profit before taxation | 5 | 115,904 | 197,610 | |
Taxation | 6 | (42,358) | (63,833) | |
Profit for the period | 73,546 | 133,777 | ||
Profit attributable to: | ||||
Owners of the Company | 58,010 | 107,014 | ||
Non-controlling interests | 15,536 | 26,763 | ||
Profit for the period | 73,546 | 133,777 | ||
Earnings per share | 7 | |||
Basic | US 1.04 cents | US 1.91 cents | ||
Diluted | US 1.04 cents | US 1.91 cents | ||
For the Three Months Ended 31 March 2016
For the three months ended 31 March | |||
2016 | 2015 | ||
(Unaudited) | (Unaudited) | ||
US$'000 | US$'000 | ||
Profit for the period | 73,546 | 133,777 | |
Other comprehensive income (loss) | |||
Items that are or may be reclassified subsequently to profit or loss: | |||
Exchange differences on consolidation | 12,934 | (1,798) | |
Fair value changes in available-for-sale financial assets | (1,885) | 701 | |
Reclassification adjustments relating to available-for-sale financial assets disposed of during the period | (628) | - | |
Other comprehensive income (loss) for the period | 10,421 | (1,097) | |
Total comprehensive income for the period | 83,967 | 132,680 | |
Total comprehensive income attributable to: | |||
Owners of the Company | 68,045 | 106,756 | |
Non-controlling interests | 15,922 | 25,924 | |
83,967 | 132,680 | ||
At 31 March 2016
At 31 March | At 31 December | |||
2016 | 2015 | |||
(Unaudited) | (Audited) | |||
Note | US$'000 | US$'000 | ||
ASSETS | ||||
Non-current assets | ||||
Investment properties | 155,176 | 154,498 | ||
Property, plant and equipment | 5,318,888 | 5,396,574 | ||
Prepaid lease payments | 601,689 | 607,822 | ||
Intangible asset | 26,363 | 26,551 | ||
Interest in associates | 31,138 | 30,065 | ||
Interest in joint ventures | 88,927 | 82,741 | ||
Available-for-sale financial assets | 89,495 | 92,120 | ||
Other non-current assets | 15,468 | 15,400 | ||
Deferred tax assets | 48,371 | 49,002 | ||
6,375,515 | 6,454,773 | |||
Current assets | ||||
Inventories | 361,566 | 325,793 | ||
Trade receivables | 9 | 237,033 | 233,403 | |
Tax recoverable | － | 14,780 | ||
Prepayments and other receivables | 415,710 | 429,057 | ||
Pledged bank deposits | 5,698 | 12,048 | ||
Bank balances and cash | 1,671,097 | 1,011,652 | ||
2,691,104 | 2,026,733 | |||
Total assets | 9,066,619 | 8,481,506 | ||
Tingyi (Cayman Islands) Holding Corp. published this content on 26 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 May 2016 13:10:07 UTC.
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