BLUE RIVER HOLDINGS LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Bermuda with limited liability)
(Stock Code: 498)
(Unless otherwise specified, '$' in this announcement shall mean Hong Kong dollar and 'cent(s)' shall mean Hong Kong cent(s).)
The board of directors (the 'Board') of PYI Corporation Limited ('PYI' or the 'Company') is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (the 'Group') for the six months ended 30 September 2015.
9/2015 | 9/2014 | Change | ||
Turnover | ||||
- the Group | $262 | million | $241 million | +9% |
- share of associates and joint ventures | $3,114 | million | $2,118 million | +47% |
Gross profit | $79 | million | $56 million | +42% |
(Loss) profit attributable to shareholders | $(231) | million | $71 million | -425% |
(Loss) earnings per share (5.0) cents 1.6 cents -413%
9/2015 | 3/2015 | Change | |
Shareholders' funds | $4,468 million | $4,844 million | -8% |
Net asset value per share | $0.98 | $1.06 | -8% |
RESULTS CONDENSED CONSOLIDATED INCOME STATEMENT For the six months ended 30 September 2015 | |
Unaudited Six months ended 30 September | |
Notes | 2015 2014 $'000 $'000 |
Turnover The Company and its subsidiaries 3 | 262,145 240,514 |
Share of associates and joint ventures | 3,113,671 2,118,187 |
3,375,816 2,358,701 | |
Group turnover 3 | 262,145 240,514 |
Cost of sales | (183,092 ) (184,908 ) |
Gross profit | 79,053 55,606 |
Other income 4 | 13,843 9,719 |
Administrative expenses | (78,627 ) (77,655 ) |
Distribution and selling expenses | (62,461 ) (55,147 ) |
Other gains and losses 5 | (10,474 ) 5,121 |
Other expenses | (21,147 ) (23,917 ) |
Finance costs 6 | (41,111 ) (31,421 ) |
(Loss) gain on fair value changes of investment properties Provision for stock of properties Share of results of associates | (143,413 ) 333,127 (217,109 ) ― 71,930 53,489 |
Share of results of joint ventures | 879 925 |
(Loss) profit before taxation 7 | (408,637 ) 269,847 |
Taxation 8 | 110,978 (162,324 ) |
(Loss) profit for the period | (297,659 ) 107,523 |
(Loss) profit for the period attributable to: Owners of the Company | (230,918 ) 70,993 |
Non-controlling interests | (66,741 ) 36,530 |
(297,659 ) 107,523 | |
(Loss) earnings per share 9 | |
Basic (loss) earnings per share | (5.0) cents 1.6 cents |
Diluted (loss) earnings per share | (5.0) cents 1.6 cents |
For the six months ended 30 September 2015
Unaudited
Six months ended 30 September
2015 $'000 | 2014 $'000 | |
(Loss) profit for the period | (297,659 ) | 107,523 |
OTHER COMPREHENSIVE (EXPENSE) INCOME Item that will not be reclassified to profit or loss Change in carrying amount of investments in equity instruments | (43,119 ) | (162,052 ) |
Items that may be subsequently reclassified to profit or loss | ||
Exchange differences arising from translation of foreign operations | (62,532 ) | 19,082 |
Share of exchange differences of associates and joint ventures | (34,112 ) | 9,697 |
Other comprehensive expense for the period | (139,763 ) | (133,273 ) |
Total comprehensive expense for the period | (437,422 ) | (25,750 ) |
Total comprehensive (expense) income for the period attributable to: Owners of the Company | (355,847 ) | (66,736 ) |
Non-controlling interests | (81,575 ) | 40,986 |
(437,422 ) | (25,750 ) |
At 30 September 2015
Notes | Unaudited 30.9.2015 $'000 | Audited 31.3.2015 $'000 | |
NON-CURRENT ASSETS | |||
Property, plant and equipment | 11 | 1,518,592 | 1,590,300 |
Investment properties | 12 | 1,173,138 | 1,340,016 |
Project under development | 184,011 | 188,146 | |
Prepaid lease payments | 321,930 | 328,434 | |
Other intangible assets | 57,710 | 59,932 | |
Interests in associates | 13 | 1,752,147 | 1,745,688 |
Interests in joint ventures | 87,969 | 89,058 | |
Investments in equity instruments | 14 | 562,651 | 588,210 |
Other non-current assets | 91,054 | 93,096 | |
5,749,202 | 6,022,880 | ||
CURRENT ASSETS | |||
Prepaid lease payments | 5,140 | 5,255 | |
Stock of properties | 15 | 1,562,102 | 1,791,947 |
Inventories of finished goods | 47,083 | 39,685 | |
Loans receivable | 74,000 | 74,000 | |
Dividend receivables from associates | 19,536 | 47,280 | |
Amounts due from associates | 38,775 | 37,494 | |
Amount due from a joint venture | 275 | ― | |
Trade and other debtors, deposits and prepayments | 16 | 282,694 | 267,129 |
Investments in equity instruments held for trading | 65,671 | 101,510 | |
Pledged bank deposits | 415,038 | 408,448 | |
Short term bank deposits | 316,594 | 213,389 | |
Bank balances and cash | 448,090 | 422,906 | |
3,274,998 | 3,409,043 | ||
CURRENT LIABILITIES | |||
Trade and other creditors and accrued expenses | 17 | 344,037 | 393,299 |
Amounts due to associates | 136,038 | 140,016 | |
Amount due to a joint venture | 382 | 130 | |
Amounts due to non-controlling interests | 2,442 | 2,497 | |
Dividend payable | 22,887 | ― | |
Taxation payable | 2,498 | 4,475 | |
Bank and other borrowings - due within one year | 18 | 1,741,354 | 1,534,562 |
2,249,638 | 2,074,979 | ||
NET CURRENT ASSETS | 1,025,360 | 1,334,064 | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 6,774,562 | 7,356,944 |
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