Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") 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.

Tsui Wah Holdings Limited

翠 華 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1314)

ANNOUNCEMENT OF ANNUAL RESULTS

FOR THE YEAR ENDED 31 MARCH 2019

FINANCIAL HIGHLIGHTS

For the year ended

31 March

% Change

2019

2018

(HK$'000)

(HK$'000)

Revenue

1,786,756

1,839,754

(2.9)%

Hong Kong#

1,156,619

1,194,111

(3.1)%

Mainland China

613,428

624,478

(1.8)%

Others##

16,709

21,165

(21.1)%

Profit for the year

4,709

80,770

(94.2)%

Attributable to:

4,741

  Owners of the Company

80,205

(94.1)%

Non-controlling interests

(32)

565

N/A

Earnings per share

0.34 HK cent 5.68 HK cents

Basic and diluted

(94.0)%

No. of restaurants including

As at 31 March

joint ventures

2019

2018

Hong Kong

44

33

Mainland China

35

34

Macau

3

3

Singapore

1

-

  • Revenue from external customers located in Hong Kong includes revenue derived from the sale of food to a joint venture of the Group amounting to approximately HK$6,868,000 (2018: approximately HK$8,778,000).
  • Represents revenue derived from the sale of food to joint ventures of the Group.

- 1 -

ANNUAL RESULTS

The board (the "Board") of directors (the "Directors", each a "Director") of Tsui Wah Holdings Limited (the "Company") announces the consolidated results of the Company and its subsidiaries (collectively the "Group" or "Tsui Wah") for the year ended 31 March 2019 (the "Year"), together with the comparative figures for the year ended 31 March 2018 (the "Year 2018"), as follows:

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the year ended 31 March 2019

2019

2018

Notes

HK$'000

HK$'000

REVENUE

4

1,786,756

1,839,754

Other income and gains

4

17,505

12,580

Cost of inventories sold

(497,497)

(512,382)

Staff costs

(575,462)

(532,219)

Depreciation and amortisation

(104,520)

(106,456)

Property rentals and related expenses

(313,897)

(338,537)

Fuel and utility expenses

(86,206)

(86,465)

Selling and distribution expenses

(35,629)

(40,557)

Other operating expenses

(201,876)

(166,690)

Finance costs

5

(1,628)

(1,645)

Share of profits of joint ventures

34,138

39,378

PROFIT BEFORE TAX

6

21,684

106,761

Income tax expense

7

(16,975)

(25,991)

PROFIT FOR THE YEAR

4,709

80,770

Attributable to:

  Owners of the Company

4,741

80,205

Non-controlling interests

(32)

565

4,709

80,770

EARNINGS PER SHARE ATTRIBUTABLE TO

  • ORDINARY EQUITY HOLDERS
  • OF THE COMPANY

  Basic and diluted

9

0.34 HK cent 5.68 HK cents

- 2 -

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the year ended 31 March 2019

2019

2018

HK$'000

HK$'000

PROFIT FOR THE YEAR

4,709

80,770

OTHER COMPREHENSIVE INCOME/(LOSS)

Other comprehensive income/(loss) that may be

  reclassified to profit or loss in subsequent periods:

Exchange differences on translation of foreign operations

(29,722)

53,400

Reclassification adjustments for foreign operations

  deregistered during the year

-

(596)

TOTAL COMPREHENSIVE INCOME/(LOSS)

  FOR THE YEAR, NET OF TAX

(25,013)

133,574

Attributable to:

  Owners of the Company

(24,981)

133,009

Non-controlling interests

(32)

565

(25,013)

133,574

- 3 -

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 31 March 2019

2019

2018

Notes

HK$'000

HK$'000

NON-CURRENT ASSETS

Property, plant and equipment

10

531,617

502,671

Investment properties

117,333

128,704

Prepaid land lease payments

23,300

25,576

Intangible assets

6,108

7,521

Investments in joint ventures

65,345

68,681

Prepayments and deposits paid in advance

  for purchase of property, plant and equipment

20,729

66,941

Goodwill

4,354

-

Non-current deposits and other receivables

55,399

99,714

Deferred tax assets

17,895

22,332

Total non-current assets

842,080

922,140

CURRENT ASSETS

Inventories

19,431

19,062

Trade receivables

11

6,238

8,134

Prepayments, deposits and other receivables

126,345

92,008

Tax recoverable

6,063

5,805

Pledged time deposits

9,206

9,102

Cash and cash equivalents

424,480

509,987

Total current assets

591,763

644,098

CURRENT LIABILITIES

Trade payables

12

70,733

89,104

Other payables and accruals

141,403

141,520

Interest-bearing bank borrowings

13

62,990

66,832

Finance lease payables

209

196

Tax payable

4,671

5,614

Total current liabilities

280,006

303,266

NET CURRENT ASSETS

311,757

340,832

TOTAL ASSETS LESS CURRENT

  LIABILITIES

1,153,837

1,262,972

- 4 -

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)

As at 31 March 2019

2019

2018

Note

HK$'000

HK$'000

NON-CURRENT LIABILITIES

Other payable and accruals

41,577

42,620

Finance lease payables

320

529

Deferred tax liabilities

2,154

3,808

Total non-current liabilities

44,051

46,957

Net assets

1,109,786

1,216,015

EQUITY

Equity attributable to owners of the Company

Issued capital

14

14,112

14,112

Reserves

1,091,460

1,200,293

1,105,572

1,214,405

Non-controlling interests

4,214

1,610

Total equity

1,109,786

1,216,015

- 5 -

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Tsui Wah Holdings Ltd. published this content on 28 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2019 04:55:01 UTC