Techcomp : 2016/08/19 - Interim Results 2016 Q2

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TECHCOMP (HOLDINGS) LIMITED

天美（控股）有限公司*

(Incorporated in Bermuda with limited liability)

Hong Kong Stock Code: 1298 Singapore Stock Code: T43

ANNOUNCEMENT OF UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2016

The board (the "Board") of directors (the "Director(s)") of Techcomp (Holdings) Limited (the "Company") is pleased to announce the unaudited consolidated interim results of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 June 2016 together with the comparative figures as follows:

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the six months ended 30 June

6 months ended 30 June

2016	2015	Change
US$'000	US$'000	%

Note

Revenue	3	77,810	71,819	8.3
Cost of sales	(51,081)	(47,299)	8.0
Gross profit	26,729	24,520	9.0
Other operating income	460	911	(49.5)
Distribution costs	(9,806)	(9,376)	4.6
Administrative expenses	(16,754)	(14,202)	18.0
Finance costs	5	(674)	(743)	(9.3)
(Loss)/Profit before income tax	(45)	1,110	n/a
Income tax expense	6	(45)	(208)	(78.4)
(Loss)/Profit for the period	4	(90)	902	n/a

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (CONTINUED)

For the six months ended 30 June

Other comprehensive (expense) income

Item that may be reclassified subsequently to profit or loss:

6 months ended 30 June

2016 2015 Change

Note US$'000 US$'000 %

- exchange differences arising on

translation of foreign operations (344) 326 n/a

Other comprehensive (expense) income for

the period, net of tax (344) 326 n/a

Total comprehensive (expense) income for

the period (434) 1,228 n/a

(Loss)/Profit for the period attributable to:

Owners of the Company 176 891 (80.2)

Non-controlling interests (266) 11 n/a

(90) 902 n/a

Total comprehensive (expense) income attributable to:

Owners of the Company (165) 1,217 n/a

Non-controlling interests (269) 11 n/a (434) 1,228 n/a

Earnings per share (US cents) 8

- Basic 0.06 0.37

- Diluted 0.06 0.37

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Non-current assets Properties, plant and equipment	Note 10	At 30 June 2016 US$'000 10,464	At 31 December 2015 US$'000 10,904
Goodwill	2,881	2,881
Other intangible assets	4,699	4,443
Other assets	944	944
Deferred tax assets	26	26
Total non-current assets	19,014	19,198
Current assets Inventories	53,571	37,191
Trade and other receivables	11	69,807	83,389
Income tax recoverable	184	242
Cash and bank balances	10,580	16,038
Total current assets	134,142	136,860
Current liabilities Trade and other payables	12	29,089	28,891
Liabilities for trade bills discounted with recourse	1,779	1,901
Income tax payable	1,748	1,951
Bank borrowings and overdrafts	13	25,749	25,704
Total current liabilities	58,365	58,447
NET CURRENT ASSETS	75,777	78,413
TOTAL ASSETS LESS CURRENT LIABILITIES	94,791	97,611
Non-current liabilities Bank borrowings	13	11,466	12,902
Retirement benefit plan liabilities	527	514
Deferred tax liabilities	233	237
Total non-current liabilities	12,226	13,653
82,565	83,958
Capital, reserves and non-controlling interests Share Capital	14	13,772	13,772
Reserves	69,547	70,671
Equity attributable to owners of the Company	83,319	84,443
Non-controlling interests	(754)	(485)
82,565	83,958

STATEMENT OF FINANCIAL POSITION

Company

Note At

30 June

2016

At 31 December

2015

Non-current asset

US$'000 US$'000

Subsidiaries 40,034 41,392

Current asset

Cash and bank balances 5 4

NET CURRENT ASSET 5 4

NET ASSET 40,039 41,396

Equity attributable to Owners of the Company

Share Capital	14	13,772	13,772
Reserves	26,267	27,624

40,039 41,396