GUOCO GROUP 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.
OVERSEAS REGULATORY ANNOUNCEMENT
(This overseas regulatory announcement is issued pursuant to Rule 13.10(B) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.)
Please refer to the attached announcement on the next page.
As at the date of this announcement, the board of directors of Guoco Group Limited comprises Mr. Kwek Leng Hai as Executive Chairman; Mr. Tang Hong Cheong as President & CEO; Mr. Kwek Leng San as Non-executive Director and Mr. Volker Stoeckel, Mr. Roderic N. A. Sage and Mr. David Michael Norman as Independent Non-executive Directors.
Financial Statements and Related Announcement::Full Yearly Results | Page 1 of 1 |
FINANCIAL STATEMENTS AND RELATED ANNOUNCEMENT::FULL YEARLY RESULTS
Issuer & Securities
Issuer/ Manager
GL LIMITED
Securities
GL LIMITED - BMG392401094 - B16
Stapled Security
No
Announcement Details
Announcement Title
Financial Statements and Related Announcement
Date &Time of Broadcast
23-Aug-2019 17:27:16
Status
New
Announcement Sub Title
Full Yearly Results
Announcement Reference
SG190823OTHRMFC6
Submitted By (Co./ Ind. Name)
Susan Lim
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)
Please refer to the attachment.
Additional Details
For Financial Period Ended
30/06/2019
Attachments
SGX-UnauditedFS-FY2019.pdf
Total size =620K MB
https://links.sgx.com/1.0.0/corporate-announcements/C8JB7ZS1ZGYKF4KQ/051f0b77ca0f80b3f3... 23/08/2019
Unaudited Full Year Financial Statement And Related Announcement
1(a)(i) An income statement and statement of comprehensive income, or a statement of comprehensive income, for the group, together with a comparative statement for the corresponding period of the immediately preceding financial year
Unaudited | Audited | ||||
12 months ended 30 June | Favourable / | ||||
2019 | 2018 | (unfavourable) | |||
US$m | US$m | variance % | |||
(Re-presented) | |||||
Continuing operations | |||||
Revenue | 349.3 | 344.4 | 1 | ||
Cost of sales | (201.8) | (189.7) ^ | (6) | ||
Gross profit | 147.5 | 154.7 | (5) | ||
Other operating income | 0.5 | 28.7 | (98) | ||
Administrative expenses | (77.7) | (80.1) ^ | 3 | ||
Impairment loss on trade receivables | (1.5) | (0.2) | (650) | ||
Other operating expenses | (16.3) | (0.1) | N.M. | ||
Operating profit | 52.5 | 103.0 | (49) | ||
Finance income | 1.6 | 1.6 | N.M. | ||
Finance costs | (13.2) | (13.5) | 2 | ||
Net financing costs | (11.6) | (11.9) | 3 | ||
Profit before tax | 40.9 | 91.1 | (55) | ||
Income tax expense | (6.6) | (20.4) | 68 | ||
Profit from continuing operations, net of tax | 34.3 | 70.7 | (51) | ||
Discontinued operation | |||||
Profit / (loss) from discontinued operation, net of tax | 16.0 | (11.8) | N.M. | ||
Profit for the year | 50.3 | 58.9 | (15) | ||
Profit / (loss) attributable to: | |||||
Owners of the Company | 50.3 | 59.0 | (15) | ||
Non-controlling interests | * | (0.1) | N.M. | ||
Profit for the year | 50.3 | 58.9 | (15) | ||
- Reclassification of hotel direct payroll from administrative expenses to cost of sales.
Note to Income Statement
Unaudited | Audited | |||
12 months ended 30 June | Favourable / | |||
2019 | 2018 | (unfavourable) | ||
US$m | US$m | variance % | ||
Profit before tax is stated after (charging) / crediting: | ||||
Depreciation of hotels, property and equipment | (19.6) | (20.6) | 5 | |
Amortisation of intangible assets | (3.1) | (3.4) | 9 | |
Gain on disposal of assets held for sale | - | 28.1 | N.M. | |
Provision for legal claims # | (4.5) | - | N.M. | |
Impairment loss on property and equipment # | (9.1) | - | N.M. | |
Loss on disposal of property and equipment # | (2.1) | - | N.M. | |
Write-off of property and equipment # | (0.2) | (0.1) | (100) | |
* Amount less than US$0.1m
- Included in other operating expenses
Note: N.M. - not meaningful
Page 1 of 14
1(a)(ii) Statement of Comprehensive Income
Unaudited | Audited | ||||
12 months ended 30 June | Favourable / | ||||
2019 | 2018 | (unfavourable) | |||
US$m | US$m | variance % | |||
Profit for the year | 50.3 | 58.9 | (15) | ||
Other comprehensive income: | |||||
Items that will not be reclassified to profit or loss: | |||||
Change in fair value equity investments at fair value through other | |||||
comprehensive income | (0.1) | - | N.M. | ||
Pension actuarial gain and losses, net of tax | (6.3) | 5.7 | N.M. | ||
Items that are or may be reclassified subsequently to profit or loss: | |||||
Net exchange differences from consolidation of foreign operations | (33.2) | 6.4 | N.M. | ||
Reclassification of exchange differences realised on disposal of subsidiaries | |||||
to profit or loss | (17.5) | - | N.M. | ||
Change in fair value of available-for-sale investments | - | (0.1) | N.M. | ||
Change in fair value of cash flow hedges, net of tax | 1.0 | 3.2 | (69) | ||
Other comprehensive income for the year, net of tax | (56.1) | 15.2 | N.M. | ||
Total comprehensive income for the year | (5.8) | 74.1 | N.M. | ||
Total comprehensive income attributable to: | |||||
- Owners of the Company | |||||
Continuing operations | (4.4) | 85.4 | N.M. | ||
Discontinued operation | (1.5) | (11.2) | 87 | ||
- Non-controlling interests | 0.1 | (0.1) | N.M. | ||
Total comprehensive income for the year | (5.8) | 74.1 | N.M. | ||
Note: N.M. - not meaningful
Page 2 of 14
1(b)(i) A Statement of Financial Position (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year
GROUP | COMPANY | |||||
Unaudited | Audited | Unaudited | Audited | |||
30 June 2019 | 30 June 2018 | 30 June 2019 | 30 June 2018 | |||
US$m | US$m | US$m | US$m | |||
ASSETS | ||||||
Hotels, property and equipment | 985.5 | 1,009.2 | - | - | ||
Intangible assets | 63.5 | 70.1 | - | - | ||
Investments in subsidiaries | - | - | 1,225.6 | 1,225.6 | ||
Pensions surplus | 7.1 | 11.4 | - | - | ||
Other investments | - | 0.2 | - | - | ||
TOTAL NON-CURRENT ASSETS | 1,056.1 | 1,090.9 | 1,225.6 | 1,225.6 | ||
Other investments | 0.1 | - | - | - | ||
Corporate tax recoverable | 1.1 | - | - | - | ||
Inventories | 1.3 | 0.4 | - | - | ||
Development properties | 184.7 | 184.4 | - | - | ||
Trade and other receivables | 44.5 | 42.8 | 0.6 | 0.3 | ||
Advances to subsidiaries | - | - | 72.0 | 111.0 | ||
Cash and cash equivalents | 95.1 | 105.4 | 38.3 | 6.5 | ||
Assets held for sale | - | 31.7 | - | - | ||
TOTAL CURRENT ASSETS | 326.8 | 364.7 | 110.9 | 117.8 | ||
TOTAL ASSETS | 1,382.9 | 1,455.6 | 1,336.5 | 1,343.4 | ||
LIABILITIES | ||||||
Loans and borrowings | 209.7 | 255.8 | - | - | ||
Pension obligations | 2.4 | 2.5 | - | - | ||
Deferred tax liabilities | 13.9 | 18.1 | - | - | ||
Derivative financial liability | 3.4 | 4.3 | - | - | ||
TOTAL NON-CURRENT LIABILITIES | 229.4 | 280.7 | - | - | ||
Trade and other payables | 74.1 | 69.6 | 0.8 | 1.0 | ||
Corporate tax payable | 0.9 | 5.1 | - | - | ||
Provisions | 4.7 | 0.2 | - | - | ||
TOTAL CURRENT LIABILITIES | 79.7 | 74.9 | 0.8 | 1.0 | ||
TOTAL LIABILITIES | 309.1 | 355.6 | 0.8 | 1.0 | ||
NET ASSETS | 1,073.8 | 1,100.0 | 1,335.7 | 1,342.4 | ||
SHARE CAPITAL AND RESERVES | ||||||
Equity attributable to owners of the Company | 1,076.3 | 1,102.6 | 1,335.7 | 1,342.4 | ||
Non-controlling interests | (2.5) | (2.6) | - | - | ||
TOTAL EQUITY | 1,073.8 | 1,100.0 | 1,335.7 | 1,342.4 | ||
Page 3 of 14
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Guoco Group Limited published this content on 23 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2019 12:32:12 UTC
