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STYLAND HOLDINGS LIMITED大 凌 集 團 有 限 公 司 *
(Incorporated in Bermuda with limited liability)
(Stock code: 211) ANNOUNCEMENT OF RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2016The board of directors (the "Directors" or the "Board") of Styland Holdings Limited (the "Company") is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 September 2016 (the "Review Period") together with the comparative figures as follows:
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMESix months ended 30 September | ||||
2016 | 2015 | |||
(Unaudited) | (Unaudited) | |||
Note | HK$'000 | HK$'000 | ||
TURNOVER | 108,943 | 104,422 | ||
Revenue | 2 | 30,959 | 31,482 | |
Cost of sales | (1,600) | (3,523) | ||
GROSS PROFIT | 29,359 | 27,959 | ||
Other income | 7,667 | 46,946 | ||
Administrative expenses | (38,787) | (27,560) | ||
Selling and distribution expenses | (1,757) | (3,075) | ||
Change in fair value of investment properties | 14,789 | 12,000 | ||
Change in fair value of financial assets at fair value through profit or loss | (5,256) | (58,672) | ||
Gain on disposal of financial assets at fair value through profit or loss | 998 | 5,046 | ||
Unrealised fair value gain of derivative financial instruments | - | 2,490 | ||
Impairment loss recognised in respect of loan receivables | (1,649) | (373) | ||
Impairment loss recognised in respect of other receivables | (1,002) | (409) | ||
Reversal of impairment loss recognised in respect of loan receivables | 1,270 | 193 |
* For identification purposes only
Six months ended 30 September | ||||
2016 | 2015 | |||
(Unaudited) | (Unaudited) | |||
Note | HK$'000 | HK$'000 | ||
PROFIT FROM OPERATIONS | 5,632 | 4,545 | ||
Finance costs | (3,570) | (2,065) | ||
PROFIT BEFORE TAXATION | 3 | 2,062 | 2,480 | |
Income tax expense | 4 | - | - | |
PROFIT AND TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 2,062 | 2,480 | ||
PROFIT AND TOTAL COMPREHENSIVE INCOME FOR THE PERIOD ATTRIBUTABLE TO | ||||
- Owners of the Company | 3,696 | 6,457 | ||
- Non-controlling interests | (1,634) | (3,977) | ||
2,062 | 2,480 | |||
EARNINGS PER SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY | 6 | |||
- Basic | HK0.08 cents | HK0.16 cents | ||
- Diluted | HK0.08 cents | HK0.15 cents |
At 30 September 2016 | At 31 March 2016 | |||
(Unaudited) | (Audited) | |||
Note | HK$'000 | HK$'000 | ||
NON-CURRENT ASSETS | ||||
Furniture and equipment | 4,174 | 4,712 | ||
Investment properties | 308,200 | 283,333 | ||
Loan receivables | 7 | 75,245 | 55,815 | |
Intangible assets | 3,386 | 3,386 | ||
Available-for-sale investment | - | - | ||
391,005 | 347,246 | |||
CURRENT ASSETS | ||||
Inventories | - | 35 | ||
Loan receivables | 7 | 149,465 | 142,145 | |
Accounts receivable | 8 | 26,530 | 26,082 | |
Promissory note receivables | 14,013 | 3,809 | ||
Other receivables, deposits and prepayments | 7,659 | 7,924 | ||
Financial assets at fair value through profit or loss | 69,263 | 75,256 | ||
Derivative financial instruments | 9 | - | 8,908 | |
Tax recoverable | 615 | 615 | ||
Client trust funds | 40,044 | 50,068 | ||
Pledged bank deposits | 6,259 | 6,249 | ||
Bank balances and cash | 144,918 | 135,833 | ||
458,766 | 456,924 | |||
CURRENT LIABILITIES | ||||
Accounts payable | 10 | 57,212 | 61,936 | |
Other payables and accruals | 8,896 | 7,379 | ||
Derivative financial instruments | 9 | - | 7,709 | |
Promissory note payables | 61,700 | 50,250 | ||
Bank loans | 157,503 | 118,148 | ||
285,311 | 245,422 | |||
NET CURRENT ASSETS | 173,455 | 211,502 | ||
TOTAL ASSETS LESS CURRENT LIABILITIES | 564,460 | 558,748 |
At 30 September 2016 | At 31 March 2016 | ||
(Unaudited) | (Audited) | ||
HK$'000 | HK$'000 | ||
NET ASSETS | 564,460 | 558,748 | |
CAPITAL AND RESERVES | |||
Share capital | 43,895 | 43,530 | |
Reserves | 528,759 | 521,778 | |
EQUITY ATTRIBUTABLE TO THE OWNERS OF THE COMPANY | 572,654 | 565,308 | |
NON-CONTROLLING INTERESTS | (8,194) | (6,560) | |
TOTAL EQUITY | 564,460 | 558,748 |
Styland Holdings Limited published this content on 25 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 November 2016 08:57:06 UTC.
Original documenthttp://www.styland.com/sites/styland.com/files/announcements/int2016.pdf
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