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 Hong Kong under the Companies Ordinance）
（Stock Code: 40）
Announcement of 2014/2015 Final Results of GP Batteries International Limited
Pursuant to Paragraph 13.09(2) of the Listing Rules, the Board of Directors of Gold Peak Industries (Holdings) Limited is pleased to announce the unaudited consolidated results of GP Batteries International Limited for the year ended 31 March 2015. GP Batteries Group's turnover increased by 3.4% to S$719 million and the net profit attributable to equity holders of GP Batteries was S$13.0 million for the year ended 31 March 2015.
Pursuant to Paragraph 13.09(2) of the Listing Rules, the Board of Directors of Gold Peak Industries (Holdings) Limited (the "Company") is pleased to announce the unaudited consolidated results of GP Batteries International Limited ("GP Batteries" and together with its subsidiaries, "GP Batteries Group") for the year ended 31 March 2015. GP Batteries is owned as to 62.1% by GP Industries Limited ("GP Industries") which is in turn an 85.0%-owned subsidiary of the Company. Both GP Batteries and GP Industries are companies listed on the Singapore Exchange Securities Trading Limited.
1
GP BATTERIES INTERNATIONAL LIMITED UNAUDITED CONSOLIDATED RESULTS For the year ended For the year ended 31 March 201531 March 2014
S$'000 HK$'000 S$'000 HK$'000 (Note) (Note) Turnover 719,335 4,325,649 695,407 4,289,618S cents | HK cents | S cents | HK cents | |
Final dividend per share | 2.50 | 15.03 | 1.00 | 6.17 |
Note:-
The Hong Kong dollar equivalents as shown above for illustrative purposes are converted at the average exchange rates for the respective periods.
2
REVIEW OF RESULTS
Turnover for the three months ended 31 March 2015 was S$170.3 million, an increase of 2.9% over the corresponding period last year. Turnover for the twelve months ended 31 March 2015 was S$719.3 million, an increase of 3.4% over the corresponding period last year.
Sales of primary batteries increased by 3.4% and 7.0% for the three months and twelve months ended 31 March 2015 respectively over the corresponding periods last year. While sales of rechargeable batteries increased by 3.9% for the three months ended 31 March 2015, sales for the twelve months ended 31 March 2015 decreased by 8.4% over the corresponding period last year.
Sales in the Americas and Asia increased by 14.5% and 13.2% respectively while sales in Europe decreased by 22.6% for the three months ended 31 March 2015 over the corresponding period last year. For the twelve months ended 31 March 2015, sales in the Americas and Asia increased by 20.1% and 5.2% respectively while sales in Europe decreased by 9.9%.
Profit before income tax for the three months and twelve months ended 31 March 2015 were S$6.1 million and S$41.6 million respectively as compared to losses of S$25.5 million and S$37.3 million in the corresponding periods last year. Gross profit margins for the three months and twelve months ended 31 March 2015 improved to 24.1% and 23.1% respectively from
22.4% and 22.5% in the corresponding periods last year due to decrease in material prices and reduction in factory overhead.
Distribution expenses for the three months and twelve months ended 31 March 2015 were S$15.6 million and S$58.0 million respectively, an increase of 15.2% and 13.6% over the corresponding periods last year due to additional expenditure in advertising and promotion globally for brand building.
Finance costs for the three months and twelve months ended 31 March 2015 were S$1.3 million and S$5.4 million respectively, a decrease of 25.5% and 26.1% over the corresponding periods last year. This is mainly attributable to reduced gross borrowings from S$151.9 million as at 31
March 2014 to S$124.9 million as at 31 March 2015.
Net other operating income for the twelve months ended 31 March 2015 was S$14.7 million as compared to net operating expenses of S$51.8 million over the corresponding period last year mainly due to
a) a provision of impairment loss in the last financial year of about S$17.6 million on fixed assets and goodwill in respect of Gold Peak Industries (Taiwan) Limited;
b) a provision of compensation in the last financial year of Euro 2.9 million (S$5.0 million) to an affected customer for an unfinished project caused by the winding down of the operations of the Vectrix Group;
c) an impairment loss of S$26.3 million in the last financial year provided for the investment in and receivables from the Vectrix Group;
d) an exchange gain of S$6.6 million in this financial year arising from the translation of US dollar denominated monetary assets into local currencies, which had weakened against US dollar; and
e) a gain of S$9.2 million in this financial year arising from the disposal of the factory building in Singapore.
3
Share of results of associates for the three months and twelve months ended 31 March 2015 were profits of S$2.2 million and S$0.7 million respectively as compared to losses of S$1.0 million and S$4.7 million over the corresponding periods last year. The improvement for this year is mainly due to the cessation of loss-making operations of the Vectrix Group.
PROSPECTS
Business outlook is mixed. In spite of the expected challenge of volatile currencies especially in European regions, GP Batteries Group is optimistic in gaining market share in some emerging markets.
GP Batteries Group's automation programs continue to make progress in improving its productivity, cost and quality competitiveness. GP Batteries Group will strengthen its branding and distribution networks in selected markets.
By Order of the Board WONG Man Kit Company Secretary
Hong Kong, 27 May 2015
www.goldpeak.com
As at the date of this announcement, the Board consists of Messrs. Victor LO Chung Wing (Chairman & Chief Executive), LEUNG Pak Chuen, Richard KU Yuk Hing, Andrew CHUANG Siu Leung and Brian LI Yiu Cheung as Executive Directors, and Messrs. LUI Ming Wah, Frank CHAN Chi Chung and CHAN Kei Biu as Independent Non-Executive Directors.
4
|
distributed by
|
