Wan Kei : ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 MARCH 2017 2017-06-28 209.46 KB

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Wan Kei Group Holdings Limited 宏基集團控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1718)

ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 MARCH 2017

GROUP FINANCIAL HIGHLIGHT For the year ended 31 March 2017 (Expressed in Hong Kong Dollars)
2017 HK$	2016 HK$
Revenue	235,519,620	369,569,772
Gross profit	39,980,190	78,008,325
(Loss)/Profit before taxation	(149,564)	32,881,714
(Loss)/Profit attributable to:
Equity shareholders of the Company	(1,010,941)	25,573,227
(Loss)/Earnings per share Basic and Diluted (HK cents)	(0.12)	3.35
Cash and cash equivalents	412,347,245	150,291,845
Net assets	395,274,885	262,275,826
Total assets	601,528,891	341,748,467
DIVIDEND

The Board did not recommend the payment of a final dividend to the shareholders of the Company for the year ended 31 March 2017.

RESULTS

The board (the "Board") of directors (the "Director(s)") of Wan Kei Group Holdings Limited ("Wan Kei Group" or the "Company") announces the audited consolidated final results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 31 March 2017 (the "Reporting Period" or "YR2017") together with the comparative audited figures for the year ended 31 March 2016 as follows:

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the year ended 31 March 2017 (in HK Dollars)

Notes	2017 HK$	2016 HK$
Revenue	3(a)	235,519,620	369,569,772
Direct costs	(195,539,430)	(291,561,447)
Gross profit	39,980,190	78,008,325
Other revenue	4	2,732,612	815,534
Other net income	471,358	739,098
General and administrative expenses	(40,625,997)	(46,261,694)
Profit from operations	2,558,163	33,301,263
Finance costs	5(a)	(2,707,727)	(419,549)
(Loss)/profit before taxation	5	(149,564)	32,881,714
Income tax	6	(861,377)	(7,317,439)
(Loss)/profit and total comprehensive income for the year	(1,010,941)	25,564,275
Attributable to:
Equity shareholders of the Company	(1,010,941)	25,573,227
Non-controlling interests	-	(8,952)
(Loss)/profit and total comprehensive income for the year	(1,010,941)	25,564,275
(Loss)/earnings per share Basic and diluted (HK cents)	8	(0.12)	3.35

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 31 March 2017 (in HK Dollars)

Notes	2017 HK$	2016 HK$
Non-current assets Property, plant and equipment	53,067,955	41,857,929
Prepayment	-	34,500
Club memberships	400,000	400,000
Deferred tax assets	25,170	61,874
53,493,125	42,354,303
Current assets Gross amounts due from customers for contract work	9	46,373,072	50,770,892
Trade and other receivables	10	84,724,294	96,114,462
Tax recoverable	4,591,155	2,216,965
Cash and cash equivalents	412,347,245	150,291,845
548,035,766	299,394,164
Current liabilities Gross amounts due to customers for contract work	9	22,936,722	36,215,434
Trade and other payables	11	47,138,409	35,156,111
Amount due to a related company	12	92,287,500	-
Amount due to a director	12	18,168,481	-
Provision for onerous contract	428,158	-
Deferred income	13	1,126,283	-
Obligations under finance leases	14	5,196,874	-
Tax payable	3,133,812	2,223,367
190,416,239	73,594,912
Net current assets	357,619,527	225,799,252
Total assets less current liabilities	411,112,652	268,153,555

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)

At 31 March 2017 (in HK Dollars)

Notes	2017 HK$	2016 HK$
Non-current liabilities Obligations under finance leases	14	8,693,064	-
Provision for long service payment	557,333	557,333
Deferred income	13	1,783,282	-
Deferred tax liabilities	4,804,088	5,320,396
15,837,767	5,877,729
Net assets	395,274,885	262,275,826
Capital and reserves Share capital	15	9,600,000	8,000,000
Reserves	385,674,885	254,275,826
Total equity attributable to equity shareholders of

the Company 395,274,885 262,275,826