SILVER BASE GROUP 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: 886)
INTERIM RESULTS ANNOUNCEMENT
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
The board (the "Board") of directors (the "Directors") of Silver Base Group Holdings Limited (the "Company") is pleased to announce the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 September 2018, together with the comparative figures for the previous corresponding period as follows:
FINANCIAL HIGHLIGHTS
• Revenue was approximately HK$878.0 million
• Gross profit was approximately HK$160.7 million
• Loss for the period attributable to ordinary equity holders of the Company was approximately HK$40.0 million
• Loss per share (approximately)
Basic DilutedHK1.76 cents HK1.76 cents
• The Board does not recommend the payment of an interim dividend for the six months ended 30 September 2018
INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS For the six months ended 30 September 2018
For the six months ended 30 September
2018 | 2017 | ||
(Unaudited) | (Unaudited) | ||
Notes | HK$'000 | HK$'000 | |
REVENUE | 4 | 877,994 | 740,738 |
Cost of sales | (717,269) | (616,643) | |
Gross profit | 160,725 | 124,095 | |
Other income and gains, net | 4 | 10,328 | 297 |
Selling and distribution expenses | (124,063) | (90,726) | |
Administrative expenses | (42,991) | (42,808) | |
Other expenses, net | (4,601) | (150) | |
Write-back of impairment/(loss from | |||
impairment), net | 8,135 | (5,203) | |
Finance costs | 5 | (47,473) | (24,817) |
LOSS BEFORE TAX | 6 | (39,940) | (39,312) |
Income tax expense | 7 | - | (30) |
LOSS FOR THE PERIOD | (39,940) | (39,342) | |
ATTRIBUTABLE TO: | |||
ORDINARY EQUITY HOLDERS | |||
OF THE COMPANY | (40,046) | (39,342) | |
NON-CONTROLLING INTERESTS | 106 | - | |
(39,940) | (39,342) | ||
LOSS PER SHARE ATTRIBUTABLE TO | |||
ORDINARY EQUITY HOLDERS OF THE | |||
COMPANY | |||
Basic (HK cents) | 8 | (1.76) | (1.73) |
Diluted (HK cents) | 8 | (1.76) | (1.73) |
Details of dividends are disclosed in note 11. | |||
2 |
INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the six months ended 30 September 2018
For the six months ended 30 September
2018 (Unaudited)
2017 (Unaudited)
HK$'000
HK$'000
LOSS FOR THE PERIOD
OTHER COMPREHENSIVE INCOME/(LOSS)
Other comprehensive income/(loss) to be reclassified to profit or loss in subsequent periods:
Exchange differences:
Exchange differences on translation of foreign operations
OTHER COMPREHENSIVE INCOME/(LOSS)
FOR THE PERIOD, NET OF TAX
TOTAL COMPREHENSIVE INCOME/(LOSS)
FOR THE PERIOD
ATTRIBUTABLE TO:
ORDINARY EQUITY HOLDERS OF
THE COMPANY NON-CONTROLLING INTERESTS
(39,940) (39,342)
(131,077) 55,659
(131,077) 55,659
(171,017) 16,317
(171,123) 16,317
106
(171,017)
- 16,317
INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
30 September 2018
30 September | 31 March | ||
2018 | 2018 | ||
(Unaudited) | (Audited) | ||
Notes | HK$'000 | HK$'000 | |
NON-CURRENT ASSETS | |||
Property, plant and equipment | 24,383 | 21,684 | |
Intangible asset | 8,300 | 8,300 | |
Financial assets at fair value through profit or | |||
loss | 33,299 | - | |
Deposits | 9,526 | 36,012 | |
Deferred tax assets | 4,000 | 4,000 | |
Total non-current assets | 79,508 | 69,996 | |
CURRENT ASSETS | |||
Inventories | 1,147,672 | 904,436 | |
Trade receivables | 9 | 21,999 | 61,954 |
Bills receivable | 9 | 4,315 | 1,232 |
Prepayments, deposits and other receivables | 500,297 | 500,957 | |
Pledged deposit | 56,820 | 492,915 | |
Cash and cash equivalents | 427,106 | 418,917 | |
Total current assets | 2,158,209 | 2,380,411 | |
CURRENT LIABILITIES | |||
Trade payables | 10 | 11,084 | 24,864 |
Bills payable | 10 | 500,016 | 487,465 |
Other payables and accruals | 83,071 | 142,130 | |
Contract liabilities | 140,661 | 230,143 | |
Derivative financial instrument | 4,601 | - | |
Interest-bearing bank borrowing | 34,092 | 74,880 | |
Bond payables | 115,427 | 51,233 | |
Due to a director | 1 | 1 | |
Tax payable | 61,592 | 69,453 | |
Total current liabilities | 950,545 | 1,080,169 | |
NET CURRENT ASSETS | 1,207,664 | 1,300,242 |
30 September | 31 March | |
2018 | 2018 | |
(Unaudited) | (Audited) | |
HK$'000 | HK$'000 | |
TOTAL ASSETS LESS CURRENT | ||
LIABILITIES | 1,287,172 | 1,370,238 |
NON-CURRENT LIABILITIES | ||
Bond payables | 668,851 | 580,638 |
Deferred tax liabilities | 5,000 | 5,000 |
Total non-current liabilities | 673,851 | 585,638 |
Net assets | 613,321 | 784,600 |
EQUITY | ||
Equity attributable to ordinary equity | ||
holders of the Company | ||
Issued capital | 226,742 | 227,281 |
Reserves | 387,589 | 558,435 |
614,331 | 785,716 | |
Non-controlling interests | (1,010) | (1,116) |
Total equity | 613,321 | 784,600 |
Notes
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Disclaimer
Silver Base Group 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 15:00:05 UTC
