Dickson Concepts International : Group Interim Results for the Six Months Ended 30th September, 2018

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(Stock Code: 0113)

GROUP INTERIM RESULTS FOR THE SIX MONTHS ENDED

30TH SEPTEMBER, 2018

The board of directors ("the Board") of Dickson Concepts (International) Limited ("the Company") announces that the unaudited consolidated results of the Company and its subsidiary companies (together "the Group") for the six months ended 30th September, 2018 together with the comparative figures are as follows :-

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the period ended 30th September, 2018

Six months ended 30th September,

2018	2017
(unaudited)	(unaudited)
NOTE	HK$'000	HK$'000
Revenue	2	1,834,078	1,578,719
Cost of sales	(951,016)	(849,511)
Gross profit	883,062	729,208
Other income	3	7,365	15,950
Selling and distribution expenses	(641,404)	(616,741)
Administrative expenses	(85,132)	(90,141)
Other operating expenses	(27,340)	(28,414)
Operating profit	136,551	9,862
Finance costs	(2,284)	(639)
Share of profit / (loss) of an associated company	1	(1)
Profit before taxation	4	134,268	9,222
Taxation	5	(5,380)	(1,172)
Profit for the period attributable to equity
shareholders of the Company	128,888	8,050
Earnings per share (basic and diluted)	6	32.6 cents	2.1 cents

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the period ended 30th September, 2018

Six months ended 30th September,2018 (unaudited) HK$'000

2017 (unaudited) HK$'000

Profit for the period

128,888 8,050

Other comprehensive income for the period :

Item that may be reclassified subsequently to profit or loss :

Exchange differences on translation of accounts of overseas subsidiary and associated companies (Note a)

(29,228) 7,081

Total comprehensive income for the period attributable to equity shareholders of the Company

99,660 15,131

Notes :-

(a)There is no tax effect relating to the above component of the comprehensive income.

(b) The Group has initially applied HKFRS 15 and HKFRS 9 at 1st April, 2018. Under the transition methods chosen, comparative information is not restated.

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 30th September, 2018

Non-current assets

Property, plant and equipment Associated company Deferred tax assets

NOTE

Other financial assets 8

Current assets Inventories

Debtors, deposits and prepayments 9 Tax recoverable

Other financial assets 8 Cash and bank balances

30/9/2018 (unaudited) HK$'000

31/3/2018 (audited) HK$'000

94,897 110,781

23,562 25,895

3,028 3,171

221,536 215,869

343,023 355,716

454,173 472,271

317,905 317,427

1,059 2,138

338,049 175,793

1,794,974 1,754,795

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2,906,160 2,722,424

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Current liabilities

Bank loans 10 Bills payable

Creditors and accruals 11 Taxation

Net current assets

Total assets less current liabilities

Non-current liabilities

Deferred tax liabilities

Amount due to an associated company

Net assets

Capital and reserves

Share capital 12 Reserves

Total equity attributable to equity shareholders of the Company

214,321 －

126,439 9

651,849 652,546

17,425 18,977

-------------

883,595 797,971

-------------

2,022,565 1,924,453

2,365,588 2,280,169

24,416 24,417

23,004 25,272

2,318,168

2,230,480

122,887

117,975

2,195,281 2,112,505

2,318,168 2,230,480

Note :-

The Group has initially applied HKFRS 15 and HKFRS 9 at 1st April, 2018. Under the transition methods chosen, comparative information is not restated.

NOTES ON THE UNAUDITED INTERIM FINANCIAL REPORT

1.

PRINCIPAL ACCOUNTING POLICIES

(a)Basis of preparation

The interim results set out in the announcement do not constitute the Group's interim financial report for the six months ended 30th September, 2018 but are extracted from the interim financial report.

This interim financial report has been prepared in accordance with the applicable disclosure provisions of the Rules Governing the Listing of Securities ("the Listing Rules") on The Stock Exchange of Hong Kong Limited ("the Stock Exchange"), including compliance with Hong Kong Accounting Standard ("HKAS") 34, Interim financial reporting, issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA"). It was authorised for issue on 29th November, 2018.

This interim financial report has been prepared in accordance with the same accounting policies adopted in the 2018 annual financial statements, except for the accounting policy changes that are expected to be reflected in the 2019 annual financial statements. Details of any changes in accounting policies are set out in Note 1(b).

The preparation of an interim financial report in conformity with HKAS 34 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses on a year to date basis. Actual results may differ from these estimates.

This interim financial report contains condensed consolidated financial statements and selected explanatory notes. The notes include an explanation of events and transactions that are significant to an understanding of the changes in financial position and performance of the Group since the 2018 annual financial statements. The condensed consolidated interim financial statements and notes thereon do not include all of the information required for a full set of financial statements prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRSs", which term collectively includes all applicable individual HKFRSs, HKASs and Interpretations issued by the HKICPA).

This interim financial report is unaudited, but has been reviewed by KPMG in accordance with Hong Kong Standard on Review Engagements 2410, Review of interim financial information performed by the independent auditor of the entity, issued by the HKICPA. KPMG's independent review report to the Board is included in the interim report to be sent to shareholders. In addition, this interim financial report has been reviewed by the Company's Audit Committee.

The financial information relating to the financial year ended 31st March, 2018 that is included in the interim financial report as comparative information does not constitute the Company's statutory annual consolidated financial statements for that financial year but is derived from those financial statements. The Company's auditor has reported on those financial statements. The auditor's report was unqualified and did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying its report.