SOUNDWILL 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.
SOUNDWILL HOLDINGS LIMITED金朝陽集團有限公司*
(Incorporated in Bermuda with limited liability)
(Stock Code: 878) INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2016 FINANCIAL HIGHLIGHTS Six months ended 30 June 2016 2015 (Unaudited) (Unaudited)HK$ million HK$ million
Revenue 1,351.5 261.3
469.0 (279.4)151.1
216.1
Profit before income tax expense excluding net (loss)/gain on fair value adjustments
Net (loss)/gain on fair value adjustments on investment properties
Profit before income tax expense 189.6 367.3
Profit attributable to owners of the Company 59.2 290.1
Basic earnings per share (dollars) HK$0.21 HK$1.02
At 30 June 2016At 31
December 2015
(Unaudited) (Audited)HK$ million HK$ million
Total assets 20,064 19,963
Net assets 16,573 16,531
Total borrowings 1,987 2,137
Gearing ratio 12% 13%
Net asset value per share (dollars) HK$58.5 HK$57.9
* For identification only
RESULTSThe board (the "Board") of directors (the "Directors") of Soundwill Holdings Limited (the "Company") announces the unaudited consolidated results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2016 which have been reviewed by the Audit Committee of the Company, with comparative figures for the corresponding period in 2015 as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Six months ended 30 JuneNotes | 2016 (Unaudited) HK$'000 | 2015 (Unaudited) HK$'000 | |
Revenue | 1,351,460 | 261,321 | |
Cost of sales | (841,138) | (5,792) | |
Gross profit | 510,322 | 255,529 | |
Other income | 4 | 9,398 | 18,796 |
Selling expenses | (18,525) | (23,975) | |
Administrative expenses | (83,279) | (81,182) | |
Other operating expenses | (831) | (26) | |
Gain on disposal of subsidiaries Net (loss)/gain on fair value adjustments on investment properties | 70,614 (279,386) | - 216,138 | |
Finance costs | 5 | (18,696) | (18,020) |
Share of results of a joint venture | - | (2) | |
Profit before income tax expense | 6 | 189,617 | 367,258 |
Income tax expense | 7 | (58,764) | (30,146) |
Profit for the period | 130,853 | 337,112 | |
Other comprehensive income, net of tax Items that will not be reclassified to profit or loss: |
Surplus on revaluation of leasehold building,
net of deferred tax - 813
Item that may be reclassified subsequently to profit or loss:
Exchange (loss)/gain on translation of financial
statements of foreign operations (24,225) 3,710
Other comprehensive income for the period,
net of tax (24,225) 4,523
Total comprehensive income for the period 106,628 341,635 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (CONTINUED) Six months ended 30 June 2016 2015 (Unaudited) (Unaudited)HK$'000 HK$'000
Profit for the period attributable to:Owners of the Company 59,225 290,122
Non-controlling interests 71,628 46,990
130,853 337,112 Total comprehensive income for the period attributable to:Owners of the Company 40,175 294,025
Non-controlling interests 66,453 47,610
Note | 2016 (Unaudited) HK$ | 2015 (Unaudited) HK$ |
Earning per share for profit attributable to owners of the Company during the period | 8 | |
Basic | HK$0.21 | HK$1.02 |
Diluted | HK$0.21 | HK$1.02 |
Notes | 30 June 2016 (Unaudited) HK$'000 | 31 December 2015 (Audited) HK$'000 | |
ASSETS AND LIABILITIES | |||
Non-current assets Investment properties | 14,555,549 | 15,610,480 | |
Property, plant and equipment | 115,848 | 116,356 | |
Properties held for development | 18,786 | 19,271 | |
Available-for-sale financial assets Goodwill | 10 - | 10 - | |
14,690,193 | 15,746,117 | ||
Current assets Properties under development | 2,634,853 | 3,265,104 | |
Trade and other receivables | 9 | 179,466 | 144,978 |
Deposits paid for acquisition of properties | 9,605 | 13,505 | |
Bank deposit at escrow account | 260,488 | 346,044 | |
Cash and bank balances | 1,473,437 | 374,153 | |
4,557,849 | 4,143,784 | ||
Assets of a disposal group classified as held for sale | 10 | 816,027 | 73,079 |
Total current assets | 5,373,876 | 4,216,863 | |
Current liabilities Trade and other payables | 11 | 504,967 | 460,106 |
Deposits received in advance | 648,422 | 734,637 | |
Borrowings | 1,986,620 | 2,137,050 | |
Provision for income tax | 68,530 | 22,707 | |
3,208,539 | 3,354,500 | ||
Liabilities of a disposal group classified as held for sale | 10 | 202,468 | 370 |
Total current liabilities | 3,411,007 | 3,354,870 | |
Net current assets | 1,962,869 | 861,993 | |
Total assets less current liabilities | 16,653,062 | 16,608,110 | |
Non-current liabilities Deferred tax liabilities | 79,855 | 76,953 | |
Net assets | 16,573,207 | 16,531,157 |
Soundwill Holdings Limited published this content on 24 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 August 2016 13:39:06 UTC.
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