Computer and Technologies : Announcement of interim results for the six months ended 30 June 2019

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COMPUTER AND TECHNOLOGIES HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 00046)

ANNOUNCEMENT OF INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2019

The Board of Directors (the "Board") of Computer And Technologies Holdings Limited (the "Company") herein presents the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2019 together with the comparative figures. These condensed consolidated interim results have been reviewed by the Company's audit committee.

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

		For the six months
		ended 30 June
		2019		2018
		(Unaudited)	(Unaudited)
	Notes	HK$'000	HK$'000
REVENUE	5	133,848		130,818
Cost of sales and services		(58,866)	(57,563)
Gross profit		74,982		73,255
Other income and gains, net	5	4,664		4,637
Foreign exchange differences, net		(246)	32
Fair value gains/(losses), net:
Financial assets at fair value through profit or loss		1,410		(285)
Investment properties		3,000		3,000
Selling and distribution expenses		(17,443)	(16,197)
General and administrative expenses, net		(29,605)	(27,063)
Finance costs		(614)	-
Other expenses		(3,011)	(3,011)
PROFIT BEFORE TAX	6	33,137		34,368

continued/…

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CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS (continued)

		For the six months
		ended 30 June
		2019		2018
		(Unaudited)	(Unaudited)
	Notes	HK$'000	HK$'000
PROFIT BEFORE TAX	6	33,137		34,368
Income tax expense	7	(4,357)	(4,178)
PROFIT FOR THE PERIOD ATTRIBUTABLE TO
OWNERS OF THE PARENT		28,780		30,190
EARNINGS PER SHARE ATTRIBUTABLE TO
ORDINARY EQUITY HOLDERS OF THE
PARENT	9	HK cents	HK cents
Basic		11.66		12.47
Diluted		11.60		12.45

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CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

	For the six months
	ended 30 June
	2019		2018
	(Unaudited)	(Unaudited)
	HK$'000	HK$'000
PROFIT FOR THE PERIOD	28,780		30,190
OTHER COMPREHENSIVE LOSS
Other comprehensive loss that may be reclassified to
profit or loss in subsequent periods:
Exchange differences on translation of foreign operations	-		(1,463)
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
ATTRIBUTABLE TO OWNERS OF THE PARENT	28,780		28,727

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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		30 June	31 December
		2019		2018
		(Unaudited)	(Audited)
	Notes	HK$'000	HK$'000
NON-CURRENT ASSETS
Property, plant and equipment	10	3,169		3,120
Investment properties	11	70,161		75,661
Right-of-use assets		13,516		-
Goodwill	12	134,485		134,485
Other intangible assets	13	57,374		54,062
Financial assets at fair value through profit or loss	16	4,644		4,633
Deposits		2,260		2,260
Deferred tax assets	19	2,803		2,713
Total non-current assets		288,412		276,934
CURRENT ASSETS
Inventories		2,984		723
Trade receivables	14	57,720		43,572
Prepayments, deposits and other receivables		9,404		14,999
Contract assets	15	25,197		20,627
Financial assets at fair value through profit or loss	16	11,563		10,164
Tax recoverable		6,681		6,681
Pledged bank deposits		1,945		2,100
Cash and cash equivalents		233,573		255,545
		349,067		354,411
Assets classified as held for sale	11	8,500		-
Total current assets		357,567		354,411
CURRENT LIABILITIES
Trade payables, other payables and accruals	17	(68,497)	(74,096)
Contract liabilities	18	(60,174)	(56,954)
Lease liabilities		(7,262)	-
Tax payable		(11,244)	(9,501)
Total current liabilities		(147,177)	(140,551)
NET CURRENT ASSETS		210,390		213,860
TOTAL ASSETS LESS CURRENT LIABILITES		498,802		490,794

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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued)

		30 June	31 December
		2019		2018
		(Unaudited)	(Audited)
	Notes	HK$'000	HK$'000
NON-CURRENT LIABILITIES
Lease liabilities		(6,486)	-
Deferred tax liabilities	19	(14,221)	(12,730)
Total non-current liabilities		(20,707)	(12,730)
Net assets		478,095		478,064
EQUITY
Equity attributable to owners of the parent
Issued capital		24,949		24,949
Share premium account		53,104		53,104
Shares held under the restricted share award scheme		(4,902)	(5,809)
Other reserves		404,944		376,221
Proposed final dividend		-		29,599
Total equity		478,095		478,064

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