China Lesso : FINAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 20...
March 21, 2016 at 07:16 am IST
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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.
CHINA LESSO GROUP HOLDINGS LIMITED
中 國 聯 塑 集 團 控 股 有 限 公 司*
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2128)
FINAL RESULTS ANNOUNCEMENT
FOR THE YEAR ENDED 31 DECEMBER 2015
The Board is pleased to announce the audited consolidated financial results of the Group for the year ended 31 December 2015.
HIGHLIGHTS
Compared to the last year financial results:
•
Revenue increased by 3.0% to RMB15,264 million
•
Gross profit increased by 3.6% to RMB3,938 million
•
Profit for the year increased by 5.1% to RMB1,618 million
•
Basic earnings per share was RMB0.52, increased by 4.0%
•
The payment of a final dividend of HK13 cents per share is recommended for the year
ended 31 December 2015
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Year ended 31 December 2015
Note
2015
RMB'000
2014
RMB'000
REVENUE
3
15,264,401
14,822,772
Cost of sales
(11,326,830)
(11,022,038)
Gross profit
3,937,571
3,800,734
Other revenue, income and gains
3
119,927
116,116
Selling and distribution expenses
(697,214)
(769,676)
Administrative expenses
(579,132)
(581,418)
Other expenses
(630,259)
(486,290)
Finance costs
4
(87,323)
(233,071)
Share of profit of a joint venture
1,101
398
PROFIT BEFORE TAX
5
2,064,671
1,846,793
Income tax expense
6
(446,221)
(306,435)
PROFIT FOR THE YEAR
1,618,450
1,540,358
OTHER COMPREHENSIVE INCOME/
(EXPENSE)
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign
operations (50,973) (1,170)
Changes in fair value of available-for-sale
investments 1,777 222
OTHER COMPREHENSIVE EXPENSE
FOR THE YEAR (49,196) (948)
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR 1,569,254 1,539,410
Note
2015
RMB'000
2014
RMB'000
Profit attributable to:
Owners of the Company
1,621,117
1,554,024
Non-controlling interests
(2,667)
(13,666)
1,618,450
1,540,358
Total comprehensive income attributable to: Owners of the Company
1,570,682
1,551,351
Non-controlling interests
(1,428)
(11,941)
1,569,254
1,539,410
EARNINGS PER SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY
8
Basic
RMB0.52
RMB0.50
Diluted
RMB0.52
RMB0.50
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 December 2015
Note
2015
RMB'000
2014
RMB'000
NON-CURRENT ASSETS
Property, plant and equipment
6,011,812
5,263,614
Prepaid land lease payments
1,157,926
1,087,126
Investment properties
318,431
-
Other intangible assets
Deposits paid for the purchase of land, property, plant and equipment
35,790
745,175
35,405
729,051
Interest in a joint venture
7,175
6,074
Held-to-maturity investments
9
62,435
30,383
Available-for-sale investments
10
48,363
39,466
Deferred tax assets
29,724
13,577
Total non-current assets
8,416,831
7,204,696
CURRENT ASSETS
Inventories
11
2,206,543
2,210,038
Trade and bills receivables
12
1,397,797
1,303,576
Receivables from factoring services
13
83,000
-
Prepayments, deposits and other receivables
651,408
571,942
Held-to-maturity investments
9
-
30,374
Cash and bank deposits
3,893,544
3,198,902
Total current assets
8,232,292
7,314,832
CURRENT LIABILITIES
Trade and bills payables
14
1,681,582
973,387
Other payables and accruals
1,525,902
1,564,290
Borrowings
15
1,065,502
1,158,729
Tax payable
104,562
113,440
Total current liabilities
4,377,548
3,809,846
NET CURRENT ASSETS
3,854,744
3,504,986
TOTAL ASSETS LESS CURRENT LIABILITIES
12,271,575
10,709,682
China Lesso Group Holdings Limited issued this content on 21 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 March 2016 01:45:43 UTC
Original Document: http://www.lesso.com/upload/Publication/LTN20160318860.pdf
China Lesso Group Holdings Limited is an investment holding company principally engaged in the manufacture and sales of building materials and interior decoration products and the provision of factoring services. The Company operates its business through eight segments. The Southern China segment operates its business in Guangdong Province and Hainan Province. The Southwestern China segment operates its business in Chongqing Municipality and Sichuan Province. The Central China segment operates its business in Hubei Province. The Eastern China segment operates its business in Shanghai Municipality and Anhui Province. The Northern China segment operates its business in Beijing Municipality, Tianjin Municipality and Hebei Province. The Northwestern China segment operates its business in Shaanxi Province and Ningxia Hui Autonomous Region. The Northeastern China segment operates its business in Liaoning Province. The Outside China segment operates its business outside China.