Leeport : INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30TH JUNE 2019 (in PDF)

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(Incorporated in Bermuda with limited liability)

(Stock code: 387)

INTERIM RESULTS ANNOUNCEMENT

FOR THE SIX MONTHS ENDED 30TH JUNE 2019

The Board of Directors (the "Directors") of Leeport (Holdings) Limited (the "Company") would like to present the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively the "Group") for the six months ended 30th June 2019, along with the unaudited comparative figures and selected explanatory notes, which are prepared in accordance with the Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants, and which have been reviewed by the Audit Committee of the Company.

INTERIM DIVIDEND

The Directors resolved not to declare any dividend for the six months ended 30th June 2019 (2018: HK3.0 cents).

• For identification purpose only

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CONDENSED CONSOLIDATED INTERIM INCOME STATEMENT

FOR THE SIX MONTHS ENDED 30TH JUNE 2019

		Unaudited
		Six months ended 30th June
	Note	2019			2018
		HK$'000	HK$'000
Sales	3	379,751			430,297
Cost of goods sold		(311,588)		(362,022)
Gross profit		68,163			68,275
Other income and gains - net		10,345			8,472
Selling and distribution costs		(16,900)		(14,348)
Administrative expenses		(68,296)		(50,479)
Operating (loss)/profit	4	(6,688)		11,920
Finance income		798			803
Finance costs		(3,973)		(2,860)
Finance costs - net		(3,175)		(2,057)
Share of post - tax profits of associates		4,884			10,049
(Loss)/profit before income tax		(4,979)		19,912
Income tax expense	5	(1,889)		(2,037)
(Loss)/profit for the period		(6,868)		17,875
(Loss)/profit attributable to owners of the Company		(6,241)		17,243
(Loss)/profit attributable to non-controlling interests		(627)		632
		(6,868)		17,875
		HK cents	HK cents
		per Share	per Share
(Loss)/earnings per share attributable to owners
of the Company
Basic (loss)/earnings per share	7	(2.71)		7.49

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CONDENSED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED 30TH JUNE 2019

	Unaudited
	Six months ended 30th June
	2019				2018
	HK$'000	HK$'000
(Loss)/profit for the period	(6,868)		17,875
Other comprehensive (loss)/income
Items that will not be reclassified subsequently to profit or loss	572
Movement of deferred tax			539
Change in fair value of financial assets at fair value	(11,266)
through other comprehensive income, net of tax		8,489
	(10,694)		9,028
Items that may be reclassified to profit or loss	(1,821)
Currency translation differences		(3,288)
Share of other comprehensive income of associates	1,051			907
	(770)		(2,381)
Other comprehensive (loss)/income, net of tax	(11,464)		6,647
Total comprehensive (loss)/income for the period	(18,332)		24,522
Total comprehensive (loss)/income attributable to
owners of the Company	(17,668)		23,897
Total comprehensive (loss)/income attributable to
non-controlling interests	(664)		625
	(18,332)		24,522

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CONDENSED CONSOLIDATED INTERIM BALANCE SHEET

AS AT 30TH JUNE 2019

		Unaudited	Audited
		30th June	31st December
	Note	2019		2018
		HK$'000	HK$'000
ASSETS
Non-current assets		237,444
Property, plant and equipment			242,684
Right-of-use assets		19,354		-
Leasehold land		-	14,175
Investment properties		55,673		55,611
Investments in associates		153,235		155,300
Loan to an associate		18,026		18,158
Financial assets at fair value through		8,089
other comprehensive income		8,089
		491,821		494,017
Current assets		108,422
Inventories			102,109
Trade receivables and bills receivables	8	139,771		142,362
Other receivables, prepayments and deposits		14,158		33,047
Financial assets at fair value through		69,865
other comprehensive income		81,131
Derivative financial instruments		182	316
Amount due from an associate		247	261
Restricted bank deposits		26,680	26,576
Cash and cash equivalents		54,216	52,874
		413,541		438,676
Total assets		905,362		932,693

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		Unaudited			Audited
		30th June			31st December
	Note	2019	2018
		HK$'000			HK$'000
EQUITY
Capital and reserves attributable to owners of
the Company		23,007
Share capital		23,007
Other reserves		182,086	196,979
Retained earnings		215,929	224,456
		421,022	444,442
Non-controlling interests		312	976
Total equity		421,334	445,418
LIABILITIES
Non-current liabilities		5,556
Borrowings	10	8,889
Lease liabilities		3,516			-
Deferred income tax liabilities		32,258	32,326
		41,330	41,215
Current liabilities		145,118
Trade payables and bills payables	9	145,819
Other payables, accruals and deposits received		59,039	90,030
Derivative financial instruments		71	275
Amount due to an associate		1,478	1,750
Amount due to a non-controlling shareholder		9,595	9,595
Borrowings	10	218,745	194,519
Lease liabilities		1,931			-
Tax payable		969	4,072
Dividend payable		5,752			-
		442,698	446,060
Total liabilities		484,028	487,275
Total equity and liabilities		905,362	932,693

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