Town Health International Medical Gp : Announcements and Notices -

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Town Health International Medical Group Limited

康健國際醫療集團有限公司

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)

(Stock Code: 3886)

ANNOUNCEMENT OF INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2019

FINANCIAL HIGHLIGHTS

For the six months ended 30 June 2019:

• The Group recorded revenue of approximately HK $584,905,000 (2018: HK$529,396,000).
• The Group recorded a profit of approximately HK $26,939,000 (2018: HK$61,502,000).

As at 30 June 2019:

• The Group had net current assets and net assets of approximately HK$2,098,666,000 and HK$4,341,475,000, respectively.
• The Group had a current ratio of 7.43 and a gearing ratio of 0.45%.

The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2019 (2018: Nil).

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RESULTS

The board of directors of Town Health International Medical Group Limited is pleased to report the unaudited interim condensed consolidated results of the Company and its subsidiaries for the six months ended 30 June 2019, together with the comparative unaudited figures for the six months ended 30 June 2018, as follows:

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the six months ended 30 June 2019

		Six months ended
		30	June
		2019		2018
		(unaudited)		(unaudited)
	Notes	HK$'000		HK$'000
Revenue	4	584,905		529,396
Cost of sales		(377,563)	(365,129)
Gross profit		207,342		164,267
Other income	6	26,302		36,372
Administrative expenses		(179,220)	(184,813)
Other gains and losses, net	7	(23,358)	56,571
Finance costs	8	(3,096)	(264)
Share of results of associates		17,795		7,122
Share of results of joint ventures		(105)	261
Profit before tax		45,660		79,516
Income tax expenses	9	(18,721)	(18,014)
Profit for the period	10	26,939		61,502

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Other comprehensive (expense) income for the period

Item that will not be reclassified to profit or loss: Fair value changes on movements in equity instruments at fair value through other

comprehensive income

Items that may be reclassified subsequently to profit or loss:

Exchange difference arising from the translation of foreign operations

Share of other comprehensive expenses of associates and joint ventures

Total comprehensive income for the period

Profit for the period attributable to:

Owners of the Company

Non-controlling interests

Total comprehensive income attributable to: Owners of the Company Non-controlling interests

Earnings per share (HK cent)

- Basic and diluted

	Six months ended
	30	June
	2019	2018
	(unaudited)	(unaudited)
Note	HK$'000	HK$'000

(12,293) 19,954

(567) (11,658)

(173)-

(740) (11,658)

(13,033) 8,296

13,906 69,798

14,153 57,627

12,786 3,875

26,939 61,502

1,107 69,151

12,799647

13,906 69,798

12

0.19 0.77

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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 30 June 2019

		30 June		31 December
		2019	2018
		(unaudited)		(audited)
	Note	HK$'000		HK$'000
NON-CURRENT ASSETS
Investment properties		604,492	606,566
Property, plant and equipment		343,688	377,379
Right-of-use assets		138,001		-
Loans receivable		4,629	5,109
Goodwill		489,003	489,109
Intangible assets		344,119	349,364
Interests in associates		302,751	298,706
Interests in joint ventures		11,442	2,442
Financial assets at fair value through profit or loss		49,381	68,171
Equity instruments at fair value through
other comprehensive income		72,897	85,190
Promissory notes		-	330,000
		2,360,403	2,612,036
CURRENT ASSETS
Inventories		25,837	25,625
Trade and other receivables	13	276,373	262,166
Financial assets at fair value through profit or loss		7,849	7,805
Loans receivable		911	856
Promissory notes		330,000		-
Amounts due from associates		2,190	2,975
Amount due from a non-controlling interest		1,074		-
Tax recoverable		512	1,180
Bank balances and cash		1,780,463	1,720,425
		2,425,209	2,021,032

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		30 June		31 December
		2019	2018
		(unaudited)		(audited)
	Notes	HK$'000		HK$'000
CURRENT LIABILITIES
Trade and other payables	14	161,490	138,974
Contract liabilities		3,803	11,885
Amount due to an investee		303	305
Amounts due to non-controlling interests		42,830	47,685
Bank borrowings	15	18,236	18,756
Lease liabilities		68,894		-
Tax payable		30,987	26,947
		326,543	244,552
NET CURRENT ASSETS		2,098,666	1,776,480
TOTAL ASSETS LESS CURRENT
LIABILITIES		4,459,069	4,388,516
NON-CURRENT LIABILITIES
Lease liabilities		74,472		-
Deferred tax liabilities		43,122	44,418
		117,594	44,418
		4,341,475	4,344,098
CAPITAL AND RESERVES
Share capital	16	75,261	75,261
Reserves		3,976,310	3,996,010
Equity attributable to owners of the Company		4,051,571	4,071,271
Non-controlling interests		289,904	272,827
Total equity		4,341,475	4,344,098

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