NAMESON 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.
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1982)
ANNOUNCEMENT OF
UNAUDITED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
FINANCIAL HIGHLIGHTS
Six months ended
30 September
2017 | Change | ||
HK$' million | HK$' million | ||
Revenue | 2,881.5 | 2,114.3 | +36.3% |
Gross profit | 497.3 | 484.2 | +2.7% |
Gross profit margin | 17.3% | 22.9% | -5.6 p.p. |
Profit attributable to the owners | |||
of the Company | 236.0 | 292.1 | -19.2% |
Adjusted net profit (Note) | 241.2 | 292.1 | -17.4% |
Adjusted net profit margin | 8.4% | 13.8% | -5.4 p.p. |
Earnings per share | |||
- Basic | 10.4 HK cents | 14.1HK cents | -26.2% |
- Diluted | 10.4 HK cents | 14.1HK cents | -26.2% |
Interim dividend per share | 3.6 HK cents | 5.0HK cents |
2018
Note: Adjusted net profit means net profit for the period without taking into account realised and unrealised
(losses)/gains from derivative financial instruments.
The Board of directors (the "Board") of Nameson 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 September 2018, together with the comparative figures for the six months ended 30 September 2017 as follows:
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the six months ended 30 September 2018
(Expressed in Hong Kong dollars)
(Unaudited)
Six months ended
30 September
2017 | |||
Note | HK$'000 | HK$'000 | |
Revenue | 6 | 2,881,477 | 2,114,317 |
Cost of sales | 8 | (2,384,197) | (1,630,089) |
Gross profit | 497,280 | 484,228 | |
Other income | 4,966 | 6,672 | |
Other gains, net | 7 | 6,106 | 20,908 |
Selling and distribution expenses | 8 | (28,402) | (24,536) |
General and administrative expenses | 8 | (190,525) | (140,691) |
Operation profit | 289,425 | 346,581 | |
Share of post-tax loss of a joint venture | (338) | - | |
Finance income | 2,113 | 1,530 | |
Finance expenses | (28,209) | (8,995) | |
Finance expenses, net | 9 | (26,096) | (7,465) |
Profit before income tax | 262,991 | 339,116 | |
Income tax expenses | 10 | (27,010) | (47,002) |
Profit for the period attributable to the owners | |||
of the Company | 235,981 | 292,114 | |
Earnings per share attributable to the owners | |||
of the Company during the period | |||
- Basic (HK cents per share) | 11 | 10.4 | 14.1 |
- Diluted (HK cents per share) | 11 | 10.4 | 14.1 |
2018
(Unaudited) Six months ended
30 September 2018
2017
HK$'000 | HK$'000 | |
Profit for the period | 235,981 | 292,114 |
Other comprehensive (loss)/income, net of tax: | ||
Items that have been reclassified or may be subsequently | ||
reclassified to profit or loss | ||
- Currency translation differences | (123,431) | 15,243 |
- Share of other comprehensive loss of a joint venture | (252) | - |
Other comprehensive (loss)/income for the period, net of tax | (123,683) | 15,243 |
Total comprehensive income for the period | ||
attributable to the owners of the Company | 112,298 | 307,357 |
CONDENSED CONSOLIDATED BALANCE SHEET As at 30 September 2018
(Expressed in Hong Kong dollars)
(Unaudited) | (Audited) | ||
As at | As at | ||
30 September | 31 March | ||
2018 | 2018 | ||
Note | HK$'000 | HK$'000 | |
ASSETS | |||
Non-current assets | |||
Land use rights | 91,654 | 95,781 | |
Property, plant and equipment | 1,985,154 | 1,943,442 | |
Investment properties | 2,080 | 2,148 | |
Intangible assets | 593,213 | 599,988 | |
Interest in a joint venture | 6,428 | 7,018 | |
Available-for-sale financial assets | - | 150,076 | |
Financial assets at fair value through profit or loss | 152,297 | - | |
Prepayments, deposits, other receivables and | |||
other assets | 38,523 | 58,843 | |
2,869,349 | 2,857,296 | ||
Current assets | |||
Inventories | 603,398 | 812,172 | |
Trade receivables | 13 | 540,389 | 149,403 |
Derivative financial instruments | - | 6,577 | |
Prepayments, deposits, other receivables and | |||
other assets | 295,263 | 148,676 | |
Cash and cash equivalents | 801,241 | 1,009,477 | |
2,240,291 | 2,126,305 | ||
Total assets | 5,109,640 | 4,983,601 | |
EQUITY | |||
Capital and reserves attributable to the owners | |||
of the Company | |||
Share capital | 22,794 | 22,794 | |
Reserves | 2,527,969 | 2,425,008 | |
Total equity | 2,550,763 | 2,447,802 |
(Unaudited) | (Audited) | ||
As at | As at | ||
30 September | 31 March | ||
2018 | 2018 | ||
Note | HK$'000 | HK$'000 | |
LIABILITIES | |||
Non-current liabilities | |||
Borrowings | 15 | 757,127 | 835,902 |
Deferred income tax liabilities | 12,255 | 16,498 | |
769,382 | 852,400 | ||
Current liabilities | |||
Trade and bills payables | 14 | 297,024 | 208,937 |
Accruals and other payables | 174,002 | 134,816 | |
Current income tax liabilities | 175,328 | 137,257 | |
Borrowings | 15 | 1,143,141 | 1,202,389 |
1,789,495 | 1,683,399 | ||
Total liabilities | 2,558,877 | 2,535,799 | |
Total equity and liabilities | 5,109,640 | 4,983,601 | |
Net current assets | 450,796 | 442,906 |
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Disclaimer
Nameson Holdings Ltd. published this content on 26 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 November 2018 10:25:08 UTC
