PARKSON RETAIL GROUP 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.
PARKSON RETAIL GROUP LIMITED 百盛商業集團有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 3368)
ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2020
HIGHLIGHTS
Total operating revenues for the year of 2020 reduced to RMB4,428.3 million, representing a year-on-year decrease of 11.9%.
Same Store Sales ("SSS") decreased by 18.7% in 2020.
Total Gross Sales Proceeds ("GSP") inclusive of value-added tax were RMB11,225.6 million in 2020, representing a year-on-year decrease of 20.8%.
Profit from operations for the year of 2020 was RMB349.0 million, a decrease of RMB125.5 million or 26.5% compared to RMB474.5 million recorded in 2019.
Loss attributable to owners of the parent amounted to RMB250.1 million in 2020.
The above is mainly due to the impact of the outbreak of Coronavirus Disease ("COVID-19") in early 2020. The outbreak of COVID-19 has disrupted the operation of the stores. However, there is a steady increase in sales in second half of the year.
FINAL RESULTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020
The board (the "Board") of directors (the "Directors") of Parkson Retail Group Limited (the "Company") is pleased to announce the audited consolidated results of the Company and its subsidiaries (collectively, the "Group") for the year ended 31 December 2020 with comparative figures for the previous year of 2019 as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
For the year ended
31 December
2020
RMB'000 | |||
Revenues | 4,568,503 | ||
Other operating revenues | 457,515 | ||
Total operating revenues | 5 | 4,428,349 | 5,026,018 |
Operating expenses | |||
Purchases of goods and changes in inventories | (2,214,507) | (2,270,490) | |
Staff costs | (547,168) | (666,641) | |
Depreciation and amortisation | (690,353) | (696,674) | |
Rental expenses | 13,917 | (113,933) | |
Other operating expenses | (641,279) | (803,796) | |
Total operating expenses | (4,079,390) | (4,551,534) | |
Profit from operations | 348,959 | 474,484 | |
Finance income | 7 | 99,922 | 75,411 |
Finance costs | 7 | (569,909) | (662,878) |
Share of profits of: | |||
Joint ventures | 2,027 | 13,594 | |
Associates | 1,299 | 7,074 | |
Gains on disposal of property, | |||
plant and equipment, net | - | 43,703 | |
Loss before tax | 6 | (117,702) | (48,612) |
Income tax expense | 8 | (119,218) | (155,068) |
Loss for the year | (236,920) | (203,680) | |
Attributable to: | |||
Owners of the parent | (250,114) | (222,751) | |
Non-controlling interests | 13,194 | 19,071 | |
(236,920) | (203,680) | ||
LOSS PER SHARE ATTRIBUTABLE | |||
TO ORDINARY EQUITY HOLDERS | |||
OF THE PARENT | 9 | ||
Basic | (RMB0.095) | (RMB0.085) | |
Diluted | (RMB0.095) | (RMB0.085) |
418,468
Notes RMB'000
4,009,881
2019
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the year ended
31 December
2020
2019
RMB'000 | RMB'000 | |
Loss for the year | (236,920) | (203,680) |
Other comprehensive income | ||
Other comprehensive income that may be reclassified | ||
to profit or loss in subsequent periods: | ||
Exchange differences on translation of foreign operations | 86,489 | (61,526) |
Other comprehensive income that will not be classified to | ||
profit or loss in subsequent periods: | ||
Exchange differences on translation of foreign operations | 64,602 | (9,828) |
Other comprehensive income for the year, net of tax | 151,091 | (71,354) |
Total comprehensive income for the year | (85,829) | (275,034) |
Attributable to: | ||
Owners of the parent | (99,023) | (294,105) |
Non-controlling interests | 13,194 | 19,071 |
(85,829) | (275,034) |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 December 2020
2019
RMB'000 | |||
NON-CURRENT ASSETS | |||
Property, plant and equipment | 3,449,090 | ||
Investment properties | 303,292 | ||
Right-of-use assets | 3,629,374 | ||
Goodwill | 1,770,538 | ||
Other intangible assets | 21,515 | ||
Investments in joint ventures | 26,934 | ||
Investments in associates | 41,769 | ||
Trade receivables | 11 | 97,184 | 78,482 |
Time deposits | 729,880 | 787,899 | |
Other assets | 648,027 | 433,331 | |
Deferred tax assets | 265,764 | 227,586 | |
Total non-current assets | 11,112,119 | 10,769,810 | |
CURRENT ASSETS | |||
Inventories | 425,055 | 384,041 | |
Trade receivables | 11 | 263,475 | 265,536 |
Prepayments and other receivables | 766,340 | 420,812 | |
Financial assets at fair value | |||
through profit or loss | 242,472 | 250,761 | |
Investments in principal guaranteed deposits | 15,600 | 250,050 | |
Time deposits | 104,846 | 939,482 | |
Cash and cash equivalents | 1,499,324 | 2,265,508 | |
Total current assets | 3,317,112 | 4,776,190 | |
CURRENT LIABILITIES | |||
Trade payables | 12 | (979,721) | (1,136,563) |
Other payables and accruals | (598,919) | (637,769) | |
Contract liabilities | (629,237) | (685,792) | |
Interest-bearing bank loans | (1,134,253) | (1,011,588) | |
Lease liabilities | (556,092) | (474,677) | |
Tax payable | (58,940) | (60,654) | |
Total current liabilities | (3,957,162) | (4,007,043) | |
NET CURRENT (LIABILITIES)/ASSETS | (640,050) | 769,147 | |
TOTAL ASSETS LESS | |||
CURRENT LIABILITIES | 10,472,069 | 11,538,957 |
Notes RMB'000
3,287,490
420,428
3,815,672
1,770,538
14,450
19,748
42,938
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Parkson Retail Group Ltd. published this content on 22 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2021 09:51:01 UTC.
