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.
KFM KINGDOM HOLDINGS LIMITED KFM 金德控股有限公司(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 3816) ANNOUNCEMENT OF FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2017The board (the "Board") of directors (the "Directors" and each a "Director") of KFM Kingdom Holdings Limited (the "Company") hereby announces the consolidated results of the Company and its subsidiaries (together, the "Group") for the year ended 31 March 2017 prepared in accordance with relevant requirements of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), together with the comparative figures for the year ended 31 March 2016.
For and on behalf of
KFM KINGDOM HOLDINGS LIMITED ZHANG HAIFENGChairman
Hong Kong, 26 June 2017
As at the date of this announcement, the executive Directors are Mr. Sun Kwok Wah Peter and Mr. Wong Chi Kwok; the non-executive Director is Mr. Zhang Haifeng (Chairman); and the independent non-executive Directors are Mr. Wan Kam To, Ms. Zhao Yue and Mr. Shen Zheqing.
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFOR THE YEAR ENDED 31 MARCH 2017
2017 | 2016 | |||||
Notes | HK$'000 | HK$'000 | ||||
Revenue | 4 | 879,478 | 852,620 | |||
Cost of sales | (669,649 | (674,359 | ||||
Gross profit | 209,829 | 178,261 | ||||
Other gains, net | 5 | 16,040 | 15,128 | |||
Distribution and selling expenses | (20,140 | (25,260 | ||||
General and administrative expenses | (193,698 | (197,452 | ||||
Finance income | 207 | 677 | ||||
Finance costs | (16,654 | (4,331 | ||||
Share of loss of an associated entity | - | (3,453 | ||||
Provision for impairment of interest in an associated entity | - | (3,867 | ||||
Loss before tax | 6 | (4,416 | (40,297 | |||
Income tax expenses | 7 | (12,638 | (9,534 | |||
Loss for the year | (17,054 | (49,831 | ||||
Other comprehensive expense: | ||||||
Items that may be reclassified subsequently to profit or loss: | ||||||
Exchange differences on translation of foreign operations | (30,288 | (24,334 | ||||
Total comprehensive expense for the year | (47,342 | (74,165 | ||||
Loss for the year attributable to: | ||||||
- Owners of the Company | (15,481 | (45,827 | ||||
- Non-controlling interests | (1,573 | (4,004 | ||||
(17,054 | (49,831 | |||||
Total comprehensive expense attributable to: | ||||||
- Owners of the Company | (45,769 | (70,161 | ||||
- Non-controlling interests | (1,573 | (4,004 | ||||
(47,342 | (74,165 | |||||
LOSS PER SHARE | 8 | |||||
- Basic and diluted (HK cents) | (2.58 | (7.64 |
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) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAT 31 MARCH 2017
2017 | 2016 | |||
Notes | HK$'000 | HK$'000 | ||
ASSETS | ||||
Non-current assets | ||||
Property, plant and equipment | 10 | 351,803 | 396,324 | |
Leasehold land and land use rights | 11 | 22,233 | 24,067 | |
Intangible assets | - | 2,525 | ||
Goodwill | - | 10,362 | ||
Interest in an associated entity | - | - | ||
Deferred income tax assets | 5,083 | 4,355 | ||
Total non-current assets | 379,119 | 437,633 | ||
Current assets | ||||
Inventories | 12 | 80,807 | 102,303 | |
Trade and other receivables | 13 | 220,760 | 205,033 | |
Current income tax recoverable | 1,515 | 1,223 | ||
Cash and cash equivalents | 219,008 | 106,360 | ||
Total current assets | 522,090 | 414,919 | ||
Total assets | 901,209 | 852,552 |
2017 | 2016 | |||
Notes | HK$'000 | HK$'000 | ||
EQUITY | ||||
Capital and reserves | ||||
Share capital | 14 | 60,000 | 60,000 | |
Share premium | 26,135 | 26,135 | ||
Reserves | 325,800 | 373,232 | ||
Capital and reserves attributable to owners of the Company | 411,935 | 459,367 | ||
Non-controlling interests | 2,477 | 2,387 | ||
Total equity | 414,412 | 461,754 | ||
LIABILITIES | ||||
Non-current liabilities | ||||
Obligation under a finance lease | 145 | - | ||
Deferred income tax liabilities | 13,958 | 12,003 | ||
14,103 | 12,003 | |||
Current liabilities | ||||
Trade and other payables | 15 | 151,937 | 155,748 | |
Bank borrowings | 16 | 45,200 | 216,895 | |
Obligation under a finance lease | 436 | - | ||
Unsecured borrowings from a related company | 17 | 270,000 | - | |
Derivative financial liability | - | 2,113 | ||
Current income tax liabilities | 5,121 | 4,039 | ||
Total current liabilities | 472,694 | 378,795 | ||
Total liabilities | 486,797 | 390,798 | ||
Total equity and liabilities | 901,209 | 852,552 | ||
Net current assets | 49,396 | 36,124 | ||
Total assets less current liabilities | 428,515 | 473,757 |
KFM Kingdom Holdings Ltd. published this content on 26 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 June 2017 15:09:06 UTC.
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