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Portico International Holdings Limited寶國國際控股有限公司*
(Incorporated in Bermuda with limited liability) (Stock Code: 0589)
INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017 INTERIM RESULTS HIGHLIGHTSTotal revenue for 1H2017 was RMB1,052.4 million, increased by 17.9% as compared with the corresponding period in 2016
Gross profit margin for 1H2017 increased to 79.7% (1H2016: 78.9%)
Profit attributable to equity shareholders for 1H2017 was RMB5.5 million (1H2016: RMB 4.5 million), increased by 22.2%
Earnings per share remained at RMB0.01
No interim dividend was declared
The board of directors (the "Board") of Portico International Holdings Limited (the "Company") is pleased to announce the unaudited condensed consolidated interim results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2017 with comparative figures for the same period ended 2016 ("1H2016") as follows:
*for identification purpose only
Six months ended 30 June | ||||
Note | 2017 | 2016 | ||
RMB'000 | RMB'000 | |||
Revenue | 3 | 1,052,436 | 892,696 | |
Cost of sales | (213,882) | (188,500) | ||
Gross profit | 838,554 | 704,196 | ||
Other revenue | 4(a) | 10,861 | 4,859 | |
Other net expense | 4(b) | (157) | (351) | |
Selling and distribution expenses | (567,095) | (503,872) | ||
Administrative expenses | (56,116) | (57,720) | ||
Other operating expenses | 4(c) | (176,944) | (115,902) | |
Profit from operations | 49,103 | 31,210 | ||
Finance income | 5,235 | 9,642 | ||
Finance costs | (3,426) | (3,960) | ||
Net finance income | 5(a) | 1,809 | 5,682 | |
------------- | ------------- | |||
Profit before taxation | 5 | 50,912 | 36,892 | |
Income tax | 6 | (43,375) | (30,932) | |
Profit for the period | 7,537 | 5,960 | ||
Other comprehensive income for the period (after tax and reclassification adjustments): | ||||
Items that may be reclassified subsequently to profit or loss: | ||||
Exchange differences on translation of foreign operations | 5,608 | (3,350) | ||
Total comprehensive income for the period | 13,145 | 2,610 | ||
Profit attributable to: | ||||
Equity shareholders of the Company | 5,456 | 4,465 | ||
Non-controlling interests | 2,081 | 1,495 | ||
Profit for the period | 7,537 | 5,960 | ||
Total comprehensive income attributable to: | ||||
Equity shareholders of the Company | 11,131 | 723 | ||
Non-controlling interests | 2,014 | 1,887 | ||
Total comprehensive income for the period | 13,145 | 2,610 | ||
Earnings per share (RMB cents) | ||||
Basic | 7(a) | 1 | 1 | |
Diluted | 7(b) | 1 | 1 |
(Expressed in Renminbi)
at 30 June 2017 - unaudited(Expressed in Renminbi)
Note | At 30 June 2017 | At 31 December 2016 | |
RMB'000 | RMB'000 | ||
Non-current assets | |||
Lease prepayments | 22,003 | 22,251 | |
Investment properties | 8 | 13,484 | - |
Other property, plant and equipment | 8 | 373,494 | 451,630 |
Intangible assets | 2,325 | 2,447 | |
Interest in an associate | 3,019 | 3,121 | |
Deferred tax assets | 211,258 | 198,956 | |
625,583 | 678,405 | ||
------------- | ------------- | ||
Current assets | |||
Other financial assets | 9 | 59,799 | 1,661 |
Inventories | 758,257 | 800,282 | |
Trade and other receivables | 10 | 455,176 | 445,592 |
Pledged bank deposits | 78,830 | 59,487 | |
Fixed deposits with banks with original maturity over three months | 285,062 | 275,461 | |
Cash and cash equivalents | 351,331 | 374,472 | |
1,988,455 | 1,956,955 | ||
------------- | ------------- | ||
Current liabilities | |||
Trade and other payables | 12 | 366,676 | 404,377 |
Bank loans | 13 | 1,688 | 1,688 |
Current taxation | 30,144 | 41,210 | |
398,508 | 447,275 | ||
------------- | ------------- | ||
Net current assets | 1,589,947 | 1,509,680 | |
------------- | ------------- | ||
Total assets less current liabilities | 2,215,530 | 2,188,085 | |
------------- | ------------- |
(Expressed in Renminbi)
Note | At 30 June 2017 | At 31 December 2016 | |
RMB'000 | RMB'000 | ||
Non-current liabilities | |||
Trade and other payables | 12 | 127,041 | 115,330 |
Bank loans | 13 | 2,954 | 3,798 |
Deferred tax liabilities | 9,072 | 6,289 | |
139,067 | 125,417 | ||
------------- | ------------- | ||
Net assets | 2,076,463 | 2,062,668 | |
Capital and reserves | |||
Share capital | 1,474 | 1,474 | |
Reserves | 2,048,013 | 2,036,882 | |
Total equity attributable to equity shareholders of the Company | 2,049,487 | 2,038,356 | |
Non-controlling interests | 26,976 | 24,312 | |
Total equity | 2,076,463 | 2,062,668 |
Portico International Holdings Ltd. published this content on 25 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2017 09:12:02 UTC.
Original documenthttp://doc.portico-intl.com/pdffiles/20170825170538/e_Interim Results Announcement 25082017 (clean).pdf
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