KINGBO STRIKE 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.
KINGBO STRIKE LIMITED工蓋有限公司*
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1421) ANNUAL RESULTS ANNOUNCEMENT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2017The board (the "Board") of directors (the "Directors") of Kingbo Strike Limited (the "Company") presents the audited consolidated results of the Company and its subsidiaries (collectively the "Group") for the year ended 30 June 2017, together with comparative figures for the year ended 30 June 2016, as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEYear ended 30 June 2017
Notes | 2017 S$ | 2016 S$ | |
REVENUE | 4 | 57,648,773 | 21,501,034 |
Cost of sales | (38,384,602) | (18,479,236) | |
Gross profit | 19,264,171 | 3,021,798 | |
Other gains and losses | 5 | (1,259,532) | 1,920,005 |
Administrative expenses | (5,006,815) | (1,985,768) | |
Impairment loss recognised in respect of goodwill | 10 | (41,163,325) | - |
Other expenses | (260,749) | (255,183) | |
Finance costs | 6 | (9,721) | (39,114) |
Share of results of joint ventures | 1,021,618 | 2,028,361 | |
Share of results of an associate | 42,228 | (118,107) | |
(LOSS) PROFIT BEFORE TAX | 7 | (27,372,125) | 4,571,992 |
Income tax expense | 8 | (4,062,584) | (587,357) |
(LOSS) PROFIT FOR THE YEAR | (31,434,709) | 3,984,635 | |
ATTRIBUTABLE TO Owners of the parent | (38,989,860) | 3,982,201 | |
Non-controlling interests | 7,555,151 | 2,434 | |
(31,434,709) | 3,984,635 | ||
* For identification purpose only |
Notes S$ S$
(LOSS) PROFIT FOR THE YEAR (31,434,709) 3,984,635 OTHER COMPREHENSIVE (EXPENSE) INCOME FOR THE YEARItems that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign
operations: | |||
Exchange differences arising during the year | (48,490) | (1,498,545) | |
Reclassification of translation reserve upon | |||
disposal of foreign operations | 15 | 13,867 | - |
Other comprehensive expense for the year,
net of income tax (34,623) (1,498,545)
TOTAL COMPREHENSIVE (EXPENSE)INCOME FOR THE YEAR | (31,469,332) | 2,486,090 |
ATTRIBUTABLE TO Owners of the parent | (38,996,395) | 2,483,656 |
Non-controlling interests | 7,527,063 | 2,434 |
(31,469,332) | 2,486,090 | |
(Restated) | ||
(LOSS) EARNINGS PER SHARE |
Basic and diluted (S$ cents) 9 (5.02) 0.60
CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAs at 30 June 2017
Notes | 2017 S$ | 2016 S$ | |
NON-CURRENT ASSETS Goodwill | 10 | 16,291,283 | 57,354,883 |
Prepayments | 13 | 1,768,878 | 4,665,245 |
Interests in joint ventures | 2,957,955 | 4,596,337 | |
Interests in an associate | 490,779 | 448,551 | |
Plant and equipment | 611,236 | 515,477 | |
Trade and other receivables | 11 | 2,470,373 | 1,939,675 |
Total non-current assets | 24,590,504 | 69,520,168 | |
CURRENT ASSETS Gross amount due from customers for contract work in progress | 3,254,446 | 2,534,536 | |
Inventories | 17,704 | 4,111,592 | |
Trade receivables, deposits and other receivables | 11 | 36,394,266 | 4,056,613 |
Profit guarantee receivable | 12 | - | 8,949,777 |
Prepayments | 13 | 34,288 | 6,793,574 |
Held-for-trading investments | 9,245,609 | 5,756,891 | |
Cash and cash equivalents | 17,165,860 | 12,672,201 | |
Total current assets | 66,112,173 | 44,875,184 | |
CURRENT LIABILITIES Income tax payable | 4,433,737 | 570,227 | |
Trade and other payables | 14 | 21,146,823 | 14,771,758 |
Total current liabilities | 25,580,560 | 15,341,985 | |
NET CURRENT ASSETS | 40,531,613 | 29,533,199 | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 65,122,117 | 99,053,367 |
Notes | 2017 S$ | 2016 S$ | |
NON-CURRENT LIABILITIES Trade and other payables | 14 | 44,168 | - |
Interest-bearing borrowings | - | 6,820,423 | |
Deferred tax liabilities | 40,330 | 795,315 | |
Total non-current liabilities | 84,498 | 7,615,738 | |
NET ASSETS | 65,037,619 | 91,437,629 | |
EQUITY Share capital | 1,396,622 | 1,261,436 | |
Reserves | 55,495,881 | 89,139,575 | |
TOTAL EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT | 56,892,503 | 90,401,011 | |
Non-controlling interests | 8,145,116 | 1,036,618 | |
TOTAL EQUITY | 65,037,619 | 91,437,629 |
Kingbostrike Ltd. published this content on 08 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 08 August 2017 15:29:02 UTC.
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