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$8,778,000).
- Represents revenue derived from the sale of food to joint ventures of the Group.
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ANNUAL RESULTS
The board (the "Board") of directors (the "Directors", each a "Director") of Tsui Wah Holdings Limited (the "Company") announces the consolidated results of the Company and its subsidiaries (collectively the "Group" or "Tsui Wah") for the year ended 31 March 2019 (the "Year"), together with the comparative figures for the year ended 31 March 2018 (the "Year 2018"), as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
For the year ended 31 March 2019
2019 | 2018 | ||||
Notes | HK$'000 | HK$'000 | |||
REVENUE | 4 | 1,786,756 | 1,839,754 | ||
Other income and gains | 4 | 17,505 | 12,580 | ||
Cost of inventories sold | (497,497) | (512,382) | |||
Staff costs | (575,462) | (532,219) | |||
Depreciation and amortisation | (104,520) | (106,456) | |||
Property rentals and related expenses | (313,897) | (338,537) | |||
Fuel and utility expenses | (86,206) | (86,465) | |||
Selling and distribution expenses | (35,629) | (40,557) | |||
Other operating expenses | (201,876) | (166,690) | |||
Finance costs | 5 | (1,628) | (1,645) | ||
Share of profits of joint ventures | 34,138 | 39,378 | |||
PROFIT BEFORE TAX | 6 | 21,684 | 106,761 | ||
Income tax expense | 7 | (16,975) | (25,991) | ||
PROFIT FOR THE YEAR | 4,709 | 80,770 | |||
Attributable to: | |||||
Owners of the Company | 4,741 | 80,205 | |||
Non-controlling interests | (32) | 565 | |||
4,709 | 80,770 | ||||
EARNINGS PER SHARE ATTRIBUTABLE TO
- ORDINARY EQUITY HOLDERS
- OF THE COMPANY
Basic and diluted | 9 | 0.34 HK cent 5.68 HK cents | ||
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the year ended 31 March 2019
2019 | 2018 | |||
HK$'000 | HK$'000 | |||
PROFIT FOR THE YEAR | 4,709 | 80,770 | ||
OTHER COMPREHENSIVE INCOME/(LOSS) | ||||
Other comprehensive income/(loss) that may be | ||||
reclassified to profit or loss in subsequent periods: | ||||
Exchange differences on translation of foreign operations | (29,722) | 53,400 | ||
Reclassification adjustments for foreign operations | ||||
deregistered during the year | - | (596) | ||
TOTAL COMPREHENSIVE INCOME/(LOSS) | ||||
FOR THE YEAR, NET OF TAX | (25,013) | 133,574 | ||
Attributable to: | ||||
Owners of the Company | (24,981) | 133,009 | ||
Non-controlling interests | (32) | 565 | ||
(25,013) | 133,574 | |||
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 March 2019
2019 | 2018 | |||
Notes | HK$'000 | HK$'000 | ||
NON-CURRENT ASSETS | ||||
Property, plant and equipment | 10 | 531,617 | 502,671 | |
Investment properties | 117,333 | 128,704 | ||
Prepaid land lease payments | 23,300 | 25,576 | ||
Intangible assets | 6,108 | 7,521 | ||
Investments in joint ventures | 65,345 | 68,681 | ||
Prepayments and deposits paid in advance | ||||
for purchase of property, plant and equipment | 20,729 | 66,941 | ||
Goodwill | 4,354 | - | ||
Non-current deposits and other receivables | 55,399 | 99,714 | ||
Deferred tax assets | 17,895 | 22,332 | ||
Total non-current assets | 842,080 | 922,140 | ||
CURRENT ASSETS | ||||
Inventories | 19,431 | 19,062 | ||
Trade receivables | 11 | 6,238 | 8,134 | |
Prepayments, deposits and other receivables | 126,345 | 92,008 | ||
Tax recoverable | 6,063 | 5,805 | ||
Pledged time deposits | 9,206 | 9,102 | ||
Cash and cash equivalents | 424,480 | 509,987 | ||
Total current assets | 591,763 | 644,098 | ||
CURRENT LIABILITIES | ||||
Trade payables | 12 | 70,733 | 89,104 | |
Other payables and accruals | 141,403 | 141,520 | ||
Interest-bearing bank borrowings | 13 | 62,990 | 66,832 | |
Finance lease payables | 209 | 196 | ||
Tax payable | 4,671 | 5,614 | ||
Total current liabilities | 280,006 | 303,266 | ||
NET CURRENT ASSETS | 311,757 | 340,832 | ||
TOTAL ASSETS LESS CURRENT | ||||
LIABILITIES | 1,153,837 | 1,262,972 | ||
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 31 March 2019
2019 | 2018 | |||
Note | HK$'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 | ||
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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