Rykadan Capital : Announcements and Notices - Annual Results Announcement for the Year Ended 31 March 2019

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RYKADAN CAPITAL LIMITED

宏 基 資 本 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2288)

ANNUAL RESULTS ANNOUNCEMENT

FOR THE YEAR ENDED 31 MARCH 2019

FINANCIAL HIGHLIGHTS
	For the year ended 31 March
	2019	2018
RESULTS
Profit for the year (HK$'000)	322,641	34,676
FINANCIAL INFORMATION PER SHARE
Earnings per share - Basic and diluted (HK cents)	69.1	6.5
	At	At
	31 March	31 March
	2019	2018
Net assets per share (HK$) (Net assets/number of issued
ordinary shares of the Company)	3.08	2.51

BANK BALANCES AND CASH

At 31 March 2019, the Group had bank deposits and cash of approximately HK$436 million (2018: HK$399 million).

FINAL DIVIDEND

The Board has proposed the payment of a final dividend of HK6 cents per share.

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The board of directors (the "Board") of Rykadan Capital Limited 宏基資本有限公司(the "Company") hereby announces the consolidated annual results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 31 March 2019 together with the comparative figures for the year ended 31 March 2018 as follows:

CONSOLIDATED INCOME STATEMENT

For the year ended 31 March 2019

		2019		2018
				(Note)
	Note	$'000	$'000
Revenue	3	881,095		408,144
Cost of sales and services		(463,733)	(299,151)
Gross profit		417,362		108,993
Other revenue	4(a)	18,686		14,613
Other net (loss)/income	4(b)	(22,932)	40,485
Selling and marketing expenses		(44,866)	(22,335)
Administrative and other operating expenses		(73,147)	(104,572)
Profit from operations		295,103		37,184
Increase in fair value of investment properties	9	5,585		17,300
		300,688		54,484
Finance costs	5(a)	(23,563)	(13,176)
Share of profit less losses of associates		121,144		-
Share of profit less losses of joint ventures		(27,097)	(91)
Profit before taxation	5	371,172		41,217
Income tax	6	(48,531)	(6,541)
Profit for the year		322,641		34,676
Attributable to:
- Equity shareholders of the Company		329,957		31,120
- Non-controlling interests		(7,316)	3,556
Profit for the year		322,641		34,676
Earnings per share	7
Basic and diluted		69.1 cents	6.5 cents

Note: The Group has initially applied HKFRS 9 at 1 April 2018. Under the transition method chosen, comparative

information is not restated. See note 2.

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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the year ended 31 March 2019

		2019		2018
				(Note)
	Note	$'000	$'000
Profit for the year		322,641		34,676
Other comprehensive income for the year
(after tax and reclassification adjustments):
Items that may be reclassified subsequently
to profit or loss:
- Exchange differences arising on translation of foreign
operations		(14,390)	17,944
- Share of translation reserve of joint ventures		(4,392)	3,263
		(18,782)	21,207
Items that will not be reclassified subsequently
to profit or loss:
- Share of remeasurement of defined benefit liability
of a joint venture		(54)	(744)
- Surplus on revaluation of buildings held for own
use upon transfer out to investment properties	9	-	11,474
- Financial assets measured at fair value through
other comprehensive income - movement in
fair value reserve (non-recycling)		(14,651)	-
		(14,705)	10,730
Other comprehensive income for the year		(33,487)	31,937
Total comprehensive income for the year		289,154		66,613
Attributable to:
- Equity shareholders of the Company		302,393		55,007
- Non-controlling interests		(13,239)	11,606
Total comprehensive income for the year		289,154		66,613

Note: The Group has initially applied HKFRS 9 at 1 April 2018. Under the transition method chosen, comparative

information is not restated. See note 2.

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CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 31 March 2019

		2019		2018
				(Note)
	Note	$'000	$'000
Non-current assets
Investment properties	9	512,845		529,716
Other properties, plant and equipment		41,407		44,155
Interests in associates	10	215,861		218,885
Interests in joint ventures	11	201,343		227,860
Other receivables, deposits and prepayments		-	310
Financial assets measured at fair value through
other comprehensive income		1,000		-
Available-for-sale equity securities		-	15,651
Deferred tax assets		-	1,002
		972,456		1,037,579
Current assets
Properties for sale		469,236		724,948
Inventories		12,935		36,682
Trade receivables	12	104,012		115,225
Other receivables, deposits and prepayments		29,911		133,796
Amounts due from associates	10	-	3,267
Cash held by stakeholders		-	188,325
Bank deposits and cash on hand		435,767		399,434
		1,051,861		1,601,677
Current liabilities
Trade and other payables	13	72,540		126,130
Contract liabilities		5,277		-
Deposits received from sale of properties		-	385,051
Bank loans	14	338,459		646,740
Loans from non-controlling shareholders		78,218		77,559
Taxation payable		46,954		8,033
		541,448		1,243,513

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		2019	2018
				(Note)
	Note	$'000		$'000
Net current assets		510,413	358,164
Total assets less current liabilities		1,482,869	1,395,743
Non-current liabilities
Bank loans	14	-	183,826
Deferred tax liabilities		13,435	15,111
		13,435	198,937
NET ASSETS		1,469,434	1,196,806
CAPITAL AND RESERVES
Share capital		4,774	4,774
Reserves		1,434,512	1,148,359
Total equity attributable to equity shareholders
of the Company		1,439,286	1,153,133
Non-controlling interests		30,148	43,673
TOTAL EQUITY		1,469,434	1,196,806

Note: The Group has initially applied HKFRS 9 at 1 April 2018. Under the transition method chosen, comparative

information is not restated. See note 2.

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