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ALLIED PROPERTIES (H.K.) LIMITED
(聯 合 地 產(香 港)有 限 公 司)
(Incorporated in Hong Kong with limited liability)
(Stock Code: 56)
UNAUDITED INTERIM RESULTS
FOR THE SIX MONTHS ENDED 30TH JUNE, 2019
The board of directors ("Board") of Allied Properties (H.K.) Limited ("Company") is pleased to announce that the unaudited consolidated results of the Company and its subsidiaries ("Group") for the six months ended 30th June, 2019 with the comparative figures for the corresponding period in 2018 are as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS for the six months ended 30th June, 2019
Six months ended 30th June, | |||||
2019 | 2018 | ||||
Unaudited | Unaudited | ||||
Notes | HK$ Million | HK$ Million | |||
Revenue | 4 | 2,111.2 | |||
Interest income | 2,036.3 | ||||
Other revenue | 395.0 | 332.8 | |||
2,506.2 | 2,369.1 | ||||
Other income | 20.9 | 142.8 | |||
Total income | 2,527.1 | 2,511.9 | |||
Cost of sales and other direct costs | (281.8) | (215.6) | |||
Brokerage and commission expenses | (22.5) | (25.3) | |||
Selling and marketing expenses | (70.5) | (67.9) | |||
Administrative expenses | (672.9) | (726.1) | |||
Changes in values of properties | 5 | 178.6 | 646.2 | ||
Net gain on financial assets and liabilities at fair | 783.7 | ||||
value through profit or loss | 636.7 | ||||
Net exchange gain (loss) | 27.2 | (38.5) | |||
Net impairment losses on financial instruments | 6 | (469.4) | (443.0) | ||
Other operating expenses | (56.4) | (57.7) | |||
Finance costs | 7 | (247.8) | (214.1) | ||
Share of results of associates | 516.8 | 391.5 | |||
Share of results of joint ventures | 75.4 | 278.3 | |||
Profit before taxation | 8 | 2,287.5 | 2,676.4 | ||
Taxation | 9 | (147.8) | (124.7) | ||
Profit for the period | 2,139.7 | 2,551.7 | |||
- 1 -
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS (Cont'd)
for the six months ended 30th June, 2019
Six months ended 30th June, | ||||
2019 | 2018 | |||
Unaudited | Unaudited | |||
Notes | HK$ Million | HK$ Million | ||
Attributable to: | 1,513.0 | |||
Owners of the Company | 1,885.2 | |||
Non-controlling interests | 626.7 | 666.5 | ||
2,139.7 | 2,551.7 | |||
HK cents | HK cents | |||
Earnings per share | 10 | 22.21 | ||
Basic | 27.67 | |||
Diluted | 22.19 | 27.67 |
- 2 -
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
for the six months ended 30th June, 2019
Six months ended 30th June, | |||||
2019 | 2018 | ||||
Unaudited | Unaudited | ||||
HK$ Million | HK$ Million | ||||
Profit for the period | 2,139.7 | 2,551.7 | |||
Other comprehensive income (expenses): | |||||
Items that will not be reclassified to profit or loss: | |||||
Fair value gain (loss) on investments in equity instruments | 67.3 | ||||
at fair value through other comprehensive income | (37.7) | ||||
Share of other comprehensive expenses of associates | (111.8) | (132.5) | |||
Share of other comprehensive (expenses) income of | (1.8) | ||||
joint ventures | 1.7 | ||||
(46.3) | (168.5) | ||||
Items that may be reclassified subsequently to profit or loss: | |||||
Exchange differences arising on translation of foreign | 0.8 | ||||
operations | (112.4) | ||||
Reclassification adjustment to profit or loss on disposal of | - | ||||
an associate | (7.6) | ||||
Share of other comprehensive expenses of associates | (4.0) | (50.8) | |||
Share of other comprehensive income (expenses) of | 2.0 | ||||
joint ventures | (6.7) | ||||
(1.2) | (177.5) | ||||
Other comprehensive expenses for the period, net of tax | (47.5) | (346.0) | |||
Total comprehensive income for the period | 2,092.2 | 2,205.7 | |||
Attributable to: | 1,446.8 | ||||
Owners of the Company | 1,637.0 | ||||
Non-controlling interests | 645.4 | 568.7 | |||
2,092.2 | 2,205.7 | ||||
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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
at 30th June, 2019
At | At | |||
30th June, | 31st December, | |||
2019 | 2018 | |||
Unaudited | Audited | |||
Notes | HK$ Million | HK$ Million | ||
Non-current assets | 10,487.6 | |||
Investment properties | 10,291.6 | |||
Property, plant and equipment | 1,058.0 | 1,051.9 | ||
Right-of-use assets | 205.9 | - | ||
Net investments in finance lease | 2.7 | - | ||
Prepaid land lease payments | - | 4.0 | ||
Goodwill | 2,498.7 | 2,498.7 | ||
Intangible assets | 894.2 | 895.1 | ||
Interests in associates | 13,575.8 | 13,257.8 | ||
Interests in joint ventures | 3,530.7 | 3,455.0 | ||
Financial assets at fair value through | 247.4 | |||
other comprehensive income | 206.5 | |||
Amounts due from associates | 265.1 | 266.7 | ||
Loans and advances to consumer finance | 2,750.7 | |||
customers due after one year | 12 | 2,618.9 | ||
Mortgage loans | 13 | 1,745.1 | 1,956.8 | |
Deferred tax assets | 769.4 | 730.3 | ||
Financial assets at fair value through profit or loss | 6,810.8 | 6,360.9 | ||
Term loans | 14 | 200.6 | 56.6 | |
Trade receivables, prepayments and other | 26.4 | |||
receivables | 15 | 22.9 | ||
45,069.1 | 43,673.7 | |||
Current assets | ||||
0.2 | ||||
Other inventories | 0.3 | |||
Financial assets at fair value through profit or loss | 3,603.7 | 4,378.6 | ||
Prepaid land lease payments | - | 0.1 | ||
Loans and advances to consumer finance | 7,317.4 | |||
customers due within one year | 12 | 7,150.8 | ||
Mortgage loans | 13 | 1,848.4 | 1,897.4 | |
Term loans | 14 | 3,612.5 | 4,039.8 | |
Trade receivables, prepayments and | 398.3 | |||
other receivables | 15 | 447.8 | ||
Amounts due from brokers | 668.1 | 507.1 | ||
Amounts due from associates | 187.1 | 266.3 | ||
Amounts due from joint ventures | 2.1 | 9.8 | ||
Tax recoverable | 5.4 | 6.1 | ||
Short-term pledged bank deposits and | 33.1 | |||
bank balances | 20.0 | |||
Bank deposits | 271.3 | 353.5 | ||
Cash and cash equivalents | 5,296.1 | 5,031.6 | ||
23,243.7 | 24,109.2 | |||
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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Cont'd)
at 30th June, 2019
At | At | ||||
30th June, | 31st December, | ||||
2019 | 2018 | ||||
Unaudited | Audited | ||||
Notes | HK$ Million | HK$ Million | |||
Current liabilities | 460.6 | ||||
Trade payables, other payables and accruals | 16 | 346.6 | |||
Financial assets sold under repurchase agreements | 426.3 | 1,216.5 | |||
Financial liabilities at fair value through | 384.9 | ||||
profit or loss | 425.3 | ||||
Amount due to a holding company | 41.2 | 27.8 | |||
Amounts due to associates | 7.5 | 7.4 | |||
Amounts due to joint ventures | 40.1 | 40.1 | |||
Tax payable | 238.9 | 188.6 | |||
Bank and other borrowings due within one year | 7,635.1 | 7,569.8 | |||
Notes/paper payable | 831.2 | 749.5 | |||
Lease liabilities | 105.3 | - | |||
Provisions | 126.0 | 105.1 | |||
10,297.1 | 10,676.7 | ||||
Net current assets | 12,946.6 | 13,432.5 | |||
Total assets less current liabilities | 58,015.7 | 57,106.2 | |||
Capital and reserves | |||||
4,250.6 | |||||
Share capital | 4,250.6 | ||||
Reserves | 33,355.8 | 32,487.1 | |||
Equity attributable to owners of the Company | 37,606.4 | 36,737.7 | |||
Shares held for employee ownership scheme | (26.8) | (29.7) | |||
Employee share-based compensation reserve | 8.0 | 10.5 | |||
Share of net assets of subsidiaries | 10,597.5 | 11,162.3 | |||
Non-controlling interests | 10,578.7 | 11,143.1 | |||
Total equity | 48,185.1 | 47,880.8 | |||
Non-current liabilities | |||||
2,490.0 | |||||
Bank and other borrowings due after one year | 1,961.8 | ||||
Notes/paper payable | 6,911.4 | 6,926.5 | |||
Lease liabilities | 94.1 | - | |||
Deferred tax liabilities | 329.7 | 332.2 | |||
Provisions | 5.4 | 4.9 | |||
9,830.6 | 9,225.4 | ||||
58,015.7 | 57,106.2 | ||||
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Allied Properties (H.K.) Limited published this content on 21 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 August 2019 12:22:02 UTC