Cosmos Machinery Enterprises : ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED 31 DECEMBER 2015
March 31, 2016 at 04:17 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.
(Incorporated in Hong Kong with limited liability)
(Stock Code: 118)
ANNOUNCEMENT OF RESULTS
FOR THE YEAR ENDED 31 DECEMBER 2015
CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2015
Notes
2015
HK$'000
2014
HK$'000
Revenue
3
2,395,166
2,492,729
Cost of sales
(2,016,147)
(2,059,154)
Gross profit
379,019
433,575
Other income and gains, net
37,477
21,640
Distribution costs
(145,462)
(152,479)
Administrative expenses Allowance for impairment of bad
and doubtful debts, net
(293,675)
(2,040)
(289,184)
(6,429)
(Loss) Profit from operations
(24,681)
7,123
Finance costs
(20,808)
(21,267)
Investment income
15,570
11,804
Share of profits (losses) of associates
680
(48)
Gain on disposal of associates
2,577
2,037
Loss before taxation
4
(26,662)
(351)
Taxation
5
(12,156)
(7,583)
Loss for the year
(38,818)
(7,934)
Note
2015
HK$'000
2014
HK$'000
Attributable to:
- Equity shareholders of the Company
(49,601)
(33,301)
- Non-controlling interests
10,783
25,367
(38,818)
(7,934)
Loss per share for loss attributable to the equity shareholders of the Company during the year
6
- Basic
(6.92 cents)
(4.65 cents)
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2015
2015
HK$000
2014
HK$000
Loss for the year
(38,818)
(7,934)
Other comprehensive income (expense) for the year,
net of tax:
Items that have been reclassified or may be reclassified subsequently to profit or loss:
Exchange differences arising from translation of
financial statements of foreign operations (78,732) (5,272)
Changes in fair value of available-for-sale
financial assets 127 112
Share of other comprehensive expense of
associates (1,757) (103)
Release of translation reserve upon disposal
of associates
1,143
(1,589)
(79,219)
(6,852)
Items that will not be reclassified to profit or loss:
Surplus on revaluation of properties held for own use
14,392
7,996
(64,827)
1,144
Total comprehensive expense for the year
(103,645)
(6,790)
Attributable to:
- Equity shareholders of the Company
(107,487)
(31,554)
- Non-controlling interests
3,842
24,764
Total comprehensive expense for the year
(103,645)
(6,790)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AT 31 DECEMBER 2015
Notes
2015
HK$'000
2014
HK$'000
Non-current Assets
Property, plant and equipment
691,750
788,844
Leasehold land and land use rights
47,667
54,501
Goodwill
8
53,483
53,483
Intangible assets
9
10,604
11,987
Interests in associates
36,693
41,174
Available-for-sale financial assets
734
606
Finance lease receivables
46,923
14,103
Deferred tax assets
41,413
39,608
929,267
1,004,306
Current Assets Inventories
562,523
656,310
Finance lease receivables
61,934
22,396
Trade and other receivables
10
774,467
743,337
Other financial assets
9,012
174,810
Current tax recoverable
1,451
2,120
Cash and bank balances
607,567
510,270
2,016,954
2,109,243
Current Liabilities
Trade and other payables
11
749,829
843,882
Amounts due to associates
-
481
Bank borrowings - due within one year
526,575
478,112
Obligations under finance leases
8,286
8,752
Deferred consideration payable
8,123
4,811
Current tax payable
6,307
6,738
1,299,120
1,342,776
Net Current Assets
717,834
766,467
Total Assets less Current Liabilities
1,647,101
1,770,773
Cosmos Machinery Enterprises Limited issued this content on 31 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 March 2016 22:46:52 UTC
Original Document: http://www.cosmel.com/data/20160331_en_19951667300.pdf
COSMOS MACHINERY ENTERPRISES LIMITED is a Hong Kong-based investment holding company principally engaged in the manufacture of industrial and machinery products. The Company operates through four segments, including Trading of Industrial Consumables, Manufacturing of Plastic Processing Products, Manufacturing of Machinery, as well as Manufacturing and Trading of Printed Circuit Boards. Its main products include plastic injection molding machine, hydraulic press machines, auto parts, pipelines, optical products and printed circuit boards, among others.