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ESPRIT HOLDINGS LIMITED(Incorporated in Bermuda with limited liability)
STOCK CODE: 00330
INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2016 INTERIM RESULTSThe board of directors (the "Board") of Esprit Holdings Limited (the "Company") announces the unaudited condensed consolidated interim financial information, along with selected explanatory notes, of the Company and its subsidiaries (the "Group" or "Esprit") for the six months ended 31 December 2016 as follows:
Condensed consolidated income statement Unaudited for the 6 months ended 31 December 2016 2015Notes HK$ million HK$ million
Revenue | 2 | 8,323 | 9,315 |
Cost of goods sold | (3,952) | (4,615) | |
Gross profit | ───────── 4,371 | ───────── 4,700 | |
Staff costs | (1,491) | (1,616) | |
Occupancy costs | (1,276) | (1,428) | |
Logistics expenses | (473) | (516) | |
Marketing and advertising expenses | (402) | (535) | |
Depreciation Impairment of property, plant and equipment | (260) (2) | (302) (4) |
Write-back of provision for store closures
and leases, net 4 51
Other operating costs | (484) ───────── | (597) ───────── | |
Operating loss (LBIT) | 3 | (13) | (247) |
Interest income | 19 | 21 | |
Finance costs | 4 | (19) | (16) |
Loss before taxation | ───────── (13) | ───────── (242) | |
Taxation credit | 5 | 74 | 4 |
Profit/(loss) attributable to | ───────── | ───────── | |
shareholders of the Company | 61 | (238) | |
═════════ | ═════════ | ||
Earnings/(loss) per share - Basic and diluted | 7 | HK$0.03 | HK$(0.12) |
═════════ | ═════════ |
-------------------- --------------------
Other comprehensive income Items that may be reclassified subsequently to profit or loss:Fair value gain/(loss) on cash flow hedge,
net of tax | 171 | (21) |
Exchange translation | (339) | (415) |
───────── (168) | ───────── (436) | |
-------------------- | -------------------- | |
Total comprehensive income for the period attributable to shareholders of the Company, net of tax | (107) | (674) |
═════════ | ═════════ |
Notes | Unaudited 31 December 2016 HK$ million | Audited 30 June 2016 HK$ million | |
Non-current assets Intangible assets | 2,812 | 2,902 | |
Property, plant and equipment | 8 | 1,853 | 2,159 |
Investment properties | 19 | 19 | |
Other investments | 7 | 7 | |
Debtors, deposits and prepayments | 250 | 220 | |
Deferred tax assets | 620 | 745 | |
──────── 5,561 | ──────── 6,052 | ||
Current assets | ──────── | ──────── | |
Inventories | 2,656 | 2,745 | |
Debtors, deposits and prepayments | 9 | 1,666 | 1,571 |
Tax receivable | 393 | 331 | |
Cash, bank balances and deposits | 10 | 4,548 | 5,341 |
──────── 9,263 | ──────── 9,988 | ||
------------------ | ------------------ | ||
Current liabilities Creditors and accrued charges | 11 | 2,705 | 3,495 |
Provision for store closures and leases | 12 | 455 | 604 |
Tax payable | 47 | 60 | |
──────── 3,207 --------------- | ──────── 4,159 --------------- | ||
Net current assets | 6,056 | 5,829 | |
──────── | ──────── | ||
Total assets less current liabilities | 11,617 | 11,881 | |
════════ | ════════ | ||
Equity Share capital | 13 | 194 | 194 |
Reserves | 11,088 | 11,203 | |
Total equity Non-current liabilities | ──────── 11,282 --------------- | ──────── 11,397 --------------- | |
Deferred tax liabilities | 335 --------------- | 484 --------------- | |
11,617 | 11,881 | ||
════════ | ════════ |
Esprit Holdings Limited published this content on 22 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 February 2017 08:41:03 UTC.
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