VEDAN INTERNATIONAL (HOLDINGS) 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.
VEDAN INTERNATIONAL (HOLDINGS) LIMITED味丹國 際（ 控股 ）有限公司
(Incorporated under the laws of the Cayman Islands with limited liability)
(Stock code: 02317)
INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017FINANCIAL HIGHLIGHTS | Unaudited six months | |
ended 30 June | ||
2017 2016 US$'000 US$'000 | Change | |
Revenue | 156,648 163,167 | (4.0%) |
Gross profit | 33,818 40,341 | (16.2%) |
Profit for the period | 9,281 13,872 | (33.1%) |
Profit attributable to owners of the Company | 9,361 13,948 | (32.9%) |
Basic earnings per share | 0.61 US cents 0.92 US cents | |
Diluted earnings per share | 0.61 US cents 0.92 US cents | |
Interim dividend proposed per share | 0.307 US cents 0.641 US cents | |
Total dividends paid and proposed per share | 0.307 US cents 0.641 US cents |
The board of directors (the "Board") of Vedan International (Holdings) Limited (the "Company") is pleased to announce the unaudited consolidated interim results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2017 together with the comparative figures for the corresponding period in the previous year.
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETUnaudited 30 June 2017 | Audited 31 December 2016 | ||
Note | US$'000 | US$'000 | |
ASSETS | |||
Non-current assets | |||
Land use rights | 2,346 | 2,321 | |
Property, plant and equipment | 145,535 | 143,263 | |
Intangible assets | 8,785 | 8,677 | |
Long-term trade receivables | 4 | 106 | 168 |
Long-term loan and other receivables | 8 | 1,918 | 90 |
Investment in an associate | 3,386 | 3,350 | |
Total non-current assets | 162,076 | 157,869 | |
Current assets | |||
Inventories | 94,490 | 65,282 | |
Trade receivables | 4 | 29,951 | 27,825 |
Amount due from the non-controlling | |||
interest of a subsidiary | 843 | 823 | |
Short-term loan to an associate | 120 | 120 | |
Prepayments and other receivables | 12,435 | 13,283 | |
Structured bank deposit | 1,181 | - | |
Short-term bank deposits | 6,170 | 33,287 | |
Cash and cash equivalents | 36,209 | 55,210 | |
Total current assets | 181,399 | 195,830 | |
Non-current assets held-for-sale | - | 3,091 | |
Total assets | 343,475 | 356,790 |
Unaudited 30 June 2017 | Audited 31 December 2016 | ||
Note | US$'000 | US$'000 | |
EQUITY | |||
Equity attributable to the owners of | |||
the Company | |||
Share capital | 15,228 | 15,228 | |
Reserves | 263,789 | 266,307 | |
279,017 | 281,535 | ||
Non-controlling interest | (2,474) | (2,329) | |
Total equity | 276,543 | 279,206 | |
LIABILITIES | |||
Non-current liabilities | |||
Bank borrowings | 23,005 | 24,190 | |
Deferred income tax liabilities | 3,170 | 3,416 | |
Retirement benefit obligations | 1,432 | 1,386 | |
Long-term environmental provision | 173 | 113 | |
Total non-current liabilities | 27,780 | 29,105 | |
Current liabilities Trade payables | 5 | 10,846 | 18,296 |
Accruals and other payables | 12,656 | 15,637 | |
Amount due to related parties | 1,743 | 836 | |
Bank borrowings | 13,242 | 12,620 | |
Current income tax liabilities | 665 | 1,090 | |
Total current liabilities | 39,152 | 48,479 | |
Total liabilities | 66,932 | 77,584 | |
Total equity and liabilities | 343,475 | 356,790 |
Note | 2017 US$'000 | 2016 US$'000 | |
Revenue | 3 | 156,648 | 163,167 |
Cost of sales | 7 | (122,830) | (122,826) |
Gross profit | 33,818 | 40,341 | |
Other gains - net | 6 | 921 | 506 |
Selling and distribution expenses | 7 | (10,498) | (10,845) |
Administrative expenses | 7 | (12,414) | (12,400) |
Operating profit | 11,827 | 17,602 | |
Finance income | 356 | 281 | |
Finance costs | (569) | (485) | |
Finance costs - net | 8 | (213) | (204) |
Share of post-tax profit/(loss) of an associate | 36 | (12) | |
Profit before income tax | 11,650 | 17,386 | |
Income tax expense | 9 | (2,369) | (3,514) |
Profit for the period | 9,281 | 13,872 | |
Profit attributable to: | |||
- Owners of the Company | 9,361 | 13,948 | |
- Non-controlling interest | (80) | (76) | |
9,281 | 13,872 | ||
Earnings per share attributable to | |||
the owners of the Company | |||
- Basic earnings per share (expressed in US cents) | 10 | 0.61 | 0.92 |
- Diluted earnings per share (expressed in US cents) | 10 | 0.61 | 0.92 |
Vedan International Holdings Limited published this content on 29 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 August 2017 00:47:03 UTC.
Original documenthttp://www.vedaninternational.com/investor/ir2017/E-20170830.pdf
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