KECK SENG INVESTMENTS (HONG KONG) 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.
KECK SENG INVESTMENTS (HONG KONG) LIMITED激成投資（香港）有限公司
(Incorporated in Hong Kong with limited liability)
Website:www.keckseng.com.hk
(Stock Code: 184)
2018 FINAL RESULTS ANNOUNCEMENT
The board of directors (the "Board") of Keck Seng Investments (Hong Kong) Limited (the "Company")hereby announces the consolidated final results of the Company and its subsidiaries (the "Group"), andassociated companies for the year ended 31 December 2018. These results have been reviewed by the Audit Committee of the Board and the figures in respect of the preliminary announcement of these results have been compared by the Company's auditors, KPMG, Certified Public Accountants, to the amounts set out in the Group's consolidated financial statements for the year and the amounts werefound to be in agreement. The work performed by KPMG in this respect was limited and did not constitute an audit, review or other assurance engagement in accordance with Hong Kong Standards on Auditing. Hong Kong Standards on Review Engagements or Hong Kong Standards on Assurance Engagements issued by Hong Kong Institute of Certified Public Accountants and consequently no assurance has been expressed by the auditors on this Announcement.
The consolidated profit attributable to equity shareholders of the Company for the year ended 31 December 2018 was HK$196,579,000 (HK$0.578 per share), compared to HK$131,005,000 (HK$0.385 per share) in 2017.
The Board has recommended the payment of a final dividend of HK$0.12 (2017: HK$0.12) per share for the year. Together with the interim dividend of HK$0.04 (2017: HK$0.03) per share, the total dividend for the year ended 31 December 2018 will be HK$0.16 (2017: HK$0.15) per share. Subjectto equity shareholders' approval of the payment of the final dividend at the forthcoming Annual GeneralMeeting of the Company, the proposed final dividend is expected to be paid on or before 4 July 2019.
CONSOLIDATED STATEMENT OF PROFIT OR LOSSFor the year ended 31 December
2018 | 2017 | ||
Note | HK$'000 | HK$'000 | |
Revenue | 3 | 2,022,401 | 1,949,497 |
Cost of sales | (218,699) | (198,031) | |
1,803,702 | 1,751,466 | ||
Other revenue | 4(a) | 58,658 | 41,921 |
Other net losses | 4(b) | (16,725) | (4,251) |
Direct costs and operating expenses | (820,867) | (763,679) | |
Marketing and selling expenses | (60,805) | (42,375) | |
Depreciation | (145,844) | (142,925) | |
Administrative and other operating expenses | (466,128) | (450,153) | |
Operating profit | 351,991 | 390,004 | |
Net increase in fair value of investment properties | 32,200 | 5,500 | |
Impairment loss on a hotel property | 5 | - | (145,872) |
384,191 | 249,632 | ||
Finance costs | 6(a) | (55,093) | (47,395) |
Share of profits less losses of associates | 6,833 | 11,115 | |
Profit before taxation | 6 | 335,931 | 213,352 |
Income tax | 7 | (19,428) | 12,729 |
Profit for the year | 316,503 | 226,081 | |
Attributable to: | |||
Equity shareholders of the Company | 196,579 | 131,005 | |
Non-controlling interests | 119,924 | 95,076 | |
Profit for the year | 316,503 | 226,081 | |
Earnings per share, basic and diluted (cents) | 8 | 57.8 | 38.5 |
Details of dividends payable to equity shareholders of the Company attributable to the profit for the year are set out in note 12(a).
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 31 December
2018
2017
HK$'000
HK$'000
Profit for the year
Other comprehensive income for the year
Item that will not be reclassified to profit or loss:
Equity investments at fair value through other comprehensive income - net movement in fair value reserve (non-recycling)
Items that may be reclassified subsequently to profit or loss
(net of tax):
Exchange differences on translation of:
- financial statements of overseas subsidiaries and associates
Available-for-sale securities:
- changes in fair value recognised during the year
316,503
226,081
(149)
-
(22,069)28,188
-613
Other comprehensive income for the year
(22,218)28,801
Total comprehensive income for the year
Attributable to:
Equity shareholders of the Company Non-controlling interests
294,285254,882
185,169150,546
109,116104,336
Total comprehensive income for the year
294,285254,882
There is no tax effect relating to the above components of other comprehensive income.
CONSOLIDATED STATEMENT OF FINANCIAL POSITIONat 31 December
2018
2017
Note
HK$'000
HK$'000
Non-current assetsInvestment properties Property, plant and equipment Land
Interest in associates Derivative financial assets
Other non-current financial assets Deferred tax assets
Current assetsTrading securities Properties held for sale Inventories
Trade and other receivables Deposits and cash Taxation recoverable
Current liabilitiesBank loans
Trade and other payables Loan from an associate
Loans from non-controlling shareholders Taxation payable
Net current assets
Total assets less current liabilities
Non-current liabilities
Bank loans
Deferred revenue
Loans from non-controlling shareholders Deferred tax liabilities
NET ASSETS
834,700 2,376,187 831,326 4,042,213
802,500 2,353,861 836,515 3,992,876
114,587128,409
5,2675,351
223,2954,345
8,3508,258
4,393,712
4,139,239
8,9409,027
280,040280,250
5,7446,046
9
91,82582,462
1,821,089 2,452 2,210,090
1,971,104 7,170 2,356,059
10 11
144,68966,355
398,007370,113
464464
27,85530,981
19,63016,964
590,645
484,877
1,619,4451,871,182
6,013,1576,010,421
10
1,410,1221,426,912
5,4366,177
82,05578,986
95,328109,268
1,592,9411,621,343
4,420,2164,389,078
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued)
at 31 December
2018 | 2017 | ||
Note | HK$'000 | HK$'000 | |
Capital and reserves | |||
Share capital | 13 | 498,305 | 498,305 |
Reserves | 3,251,983 | 3,212,202 | |
Total equity attributable to equity shareholders | |||
of the Company | 3,750,288 | 3,710,507 | |
Non-controlling interests | 669,928 | 678,571 | |
TOTAL EQUITY | 4,420,216 | 4,389,078 |
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Keck Seng Investments (Hong Kong) Ltd. published this content on 25 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 March 2019 14:14:08 UTC
