Financial Statements and Related Announcement::Full Yearly Results
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Issuer/ Manager | METRO HOLDINGS LTD |
Securities | METRO HOLDINGS LIMITED - SG1I11878499 - M01 |
Stapled Security | No |
Announcement Title | Financial Statements and Related Announcement |
Date & Time of Broadcast | 30-May-2017 06:58:49 |
Status | New |
Announcement Sub Title | Full Yearly Results |
Announcement Reference | SG170530OTHR8VTW |
Submitted By (Co./ Ind. Name) | Tan Ching Chek |
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 following attachments:
|
For Financial Period Ended 31/03/2017
Attachments
MHL-Q4 ended 31Mar2017Final.pdf
News ReleaseFinal.pdf Total size =427K
http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=Announce...
30-May-17
METRO HOLDINGS LIMITEDThe Board of Directors of Metro Holdings Limited is pleased to announce the following:- UNAUDITED RESULTS FOR THE FULL YEAR ENDED 31 MARCH 2017
PART I - INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2
& Q3), HALF-YEAR AND FULL YEAR RESULTS
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
Group 4th Qtr 4th Qtr | Group Full Year Full Year | |||||
ended ended 31-Mar-2017 31-Mar-2016 $'000 $'000 | % Change | ended ended 31-Mar-2017 31-Mar-2016 $'000 $'000 | % Change | |||
Revenue | 33,716 32,568 | 3.52 | 131,224 154,595 | (15.12) | ||
Cost of revenue | (30,874) (29,142) | 5.94 | (122,240) (143,237) | (14.66) | ||
Gross profit | 2,842 3,426 | (17.05) | 8,984 11,358 | (20.90) | ||
Other income, including interest income | 3,757 2,693 | 39.51 | 31,168 27,565 | 13.07 | ||
Changes in fair value of short term investments | 3,553 | 211 | n.m. | (771) | (6,633) | (88.38) |
Impairment of amount due from a joint venture | - | (9,472) | n.m. | - | (9,472) | n.m. |
Fair value gain/(loss) on investment properties | 832 | (813) | n.m. | 832 | (813) | n.m. |
General and administrative expenses | (5,276) | (12,862) | (58.98) | (22,184) | (42,936) | (48.33) |
Interest on borrowings (177) - n.m. (277) (557) (50.27) Share of associates'
results, net of tax 20,135 7,957 153.05 42,514 75,660 (43.81)
Share of joint ventures' results, net of tax | 6,823 10,099 | (32.44) 22,275 68,160 | (67.32) | |
Profit from operations | 32,489 1,239 | n.m. 82,541 122,332 | (32.53) | |
before taxation | ||||
Taxation | 1,851 (92) | n.m. | (1,522) (9,040) | (83.16) |
Profit net of taxation | 34,340 1,147 | n.m. | 81,019 113,292 | (28.49) |
Attributable to: | ||||
Owners of the Company | 34,223 1,154 | n.m. | 80,682 113,129 | (28.68) |
Non-controlling interests | 117 (7) | n.m. | 337 163 | 106.75 |
34,340 1,147 | n.m. | 81,019 113,292 | (28.49) |
n.m. - not meaningful
Statement of Comprehensive Income
Group Group
4th Qtr 4th Qtr Full Year Full Year
ended ended % ended ended % 31-Mar-2017 31-Mar-2016 Change 31-Mar-2017 31-Mar-2016 Change
$'000 $'000 $'000 $'000
Profit net of taxation 34,340 1,147 n.m. 81,019 113,292 (28.49) Other comprehensive income/ (expense):Items that will not be reclassified to profit or loss:
Share of other comprehensive income
of an associate 290 42 590.48 290 42 590.48
Items that may be reclassified subsequently to profit or loss:
Currency translation adjustments on foreign subsidiaries, associates and
joint ventures (25,855) (35,607) (27.39) (14,105) (36,228) (61.07)
Available-for-sale financial assets
1,273 | (952) | n.m. | (4,273) | 8,868 | n.m. |
(2,146) | (536) | 300.37 | (5,482) | (2,234) | 145.39 |
net fair value changes
net fair value changes reclassified to profit or loss
Translation and other reserve of joint ventures transferred to profit or loss upon disposal (see note under
1(a)(v) on page 6) - - n.m. - (12,329) n.m.
Share of other comprehensive expense of associates
(16,860) | (4,995) | 237.54 | (28,279) | (19,554) | 44.62 |
(43,298) | (42,048) | 2.97 | (51,849) | (61,435) | (15.60) |
and joint ventures
Other comprehensive expense, net of tax: Total comprehensive (expense)/income for the period (8,958) (40,901) (78.10) 29,170 51,857 (43.75)
Total comprehensive (expense) /income attributable to:Owners of the Company | (8,692) (40,643) | (78.61) 30,542 51,362 | (40.54) |
Non-controlling interests | (266) (258) | 3.10 (1,372) 495 | n.m. |
(8,958) (40,901) | (78.10) 29,170 51,857 | (43.75) | |
n.m. - not meaningful |
Note:
Currency translation adjustments on foreign subsidiaries, associates and joint ventures are mainly a result of the Group's exposure to the effects of fluctuations in foreign currency exchange rates in relation to Chinese Renminbi as the Group's investment properties and development projects are situated in the People's Republic of China. There is also a small exposure to British pounds in respect of the projects in the United Kingdom. Whenever possible, the Group seeks to maintain a natural hedge through the matching of liabilities, including borrowings, against assets in the same currency. Share of other comprehensive income/(expense) of associates and joint ventures mainly relate to similar currency translation adjustments.
Changes in fair value of available-for-sale financial assets mainly relate to fluctuations in the fair value of the Group's investments classified under Investments (Non-current assets).
1(a) (ii) Revenue
Revenue of the Group comprises sales of goods and services and net commission from concessionaires.
Revenue of the Group reported on a gross transaction basis, which includes the value of the overall activity of the Group based on the gross value achieved by the concessionaire on the sale, is presented as follows:-
Group | Group | ||
4th Qtr 4th Qtr | Full Year Full Year | ||
ended ended | % | ended ended | % |
31-Mar-2017 31-Mar-2016 | Change | 31-Mar-2017 31-Mar-2016 | Change |
$'000 $'000 | $'000 $'000 |
Retail | 51,728 | 51,544 | 0.36 | 198,617 241,482 | (17.75) |
Property | 1,612 | 1,761 | (8.46) | 6,513 8,500 | (23.38) |
53,340 | 53,305 | 0.07 | 205,130 249,982 | (17.94) |
Metro Holdings Limited published this content on 30 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 May 2017 13:19:26 UTC.
Original documenthttp://www.metroholdings.com.sg/update2017/2017-05-30 FY2017 and NR.pdf
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