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HKC International : Announcement of Interim Results for the Six Months Ended 30th September, 2017 (24 November 2017)

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11/24/2017 | 10:27am CET

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.

HKC INTERNATIONAL HOLDINGS LIMITED 香港通訊國際控股有限公司 *

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 248)

ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30TH SEPTEMBER, 2017

The board of directors (the "Board") of HKC International Holdings Limited (the "Company") is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30th September, 2017 as follows:

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the six months ended 30th September, 2017

Six months ended 30th September,

Note

2017

HK$'000

(unaudited)

2016

HK$'000

(unaudited)

Revenue

3

129,889

95,219

Cost of sales

(103,736)

(72,938)

Gross profit

26,153

22,281

Other income and gains

4

1,455

3,877

Other losses

5

(170)

(52)

Selling and distribution expenses

(2,410)

(2,889)

Administrative and other operating expenses

(20,842)

(25,678)

Finance costs

6

(996)

(1,055)

* For identification purpose only

Six months ended 30th September,

Note

2017

HK$'000

(unaudited)

2016

HK$'000

(unaudited)

Profit/(loss) profit before taxation

7

3,190

(3,516)

Tax expense

8

(37)

(95)

Profit/(loss) for the period attributable to equity holders of the Company

3,153

(3,611)

Other comprehensive income/(expense)

Items that may be reclassified subsequently to profit or loss:

Exchange differences on translation of

overseas operations 1,388 (490)

Available-for-sale financial assets:

Reclassification adjustments transferred to profit or loss

- Released upon disposal of

available-for-sale financial assets - (3,398)

Other comprehensive income/(expense)

for the period 1,388 (3,888)

Total comprehensive income/(expense) for the period attributable to equity holders of the Company 4,541 (7,499) Earnings/(loss) per share - (HK cents)

-basic 9 0.25 cents (0.29) cents*

-diluted 9 0.25 cents (0.29) cents*

* Adjusted for the bonus share issue

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 30th September, 2017

As at 30th September, 2017

As at 31st March,

2017

Note HK$'000 HK$'000

(unaudited) (audited) Non-current assets

Property, plant and equipment 57,503 57,953

Investment properties 189,270 189,270

Available-for-sale financial assets 3,900 3,900

250,673 251,123 Current assets

Inventories 26,813 11,876

Financial assets at fair value through

profit or loss 402 384

Gross amounts due from customers for

contract work

11

25,705

25,319

Debtors, deposits and prepayments

12

51,451

53,954

Tax recoverable

137

140

Cash and bank balances

20,425

17,716

124,933

109,389

Current liabilities

Creditors and accrued charges

13

15,383

17,355

Tax payable

39

43

Obligations under finance leases

11

11

Bank borrowings

Deposit received for disposal of investment properties

16

76,825

15,000

79,288

-

107,258

96,697

Net current assets

17,675

12,692

Total assets less current liabilities

268,348

263,815

As at 30th September, 2017

As at 31st March,

2017

HK$'000 HK$'000

(unaudited) (audited) Non-current liabilities

Obligations under finance leases 4 12

Deferred tax liabilities 168 168

172 180 Net assets 268,176 263,635 Capital and reserves

Share capital 12,453 9,963

Reserves 255,723 253,672

Total equity 268,176 263,635

HKC International Holdings Ltd. published this content on 24 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 November 2017 09:26:11 UTC.

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