New Provenance Everlasting : FINAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 MARCH 2022

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New Provenance Everlasting Holdings Limited

(Incorporated in Bermuda with limited liability)

(Stock Code: 2326)

FINAL RESULTS ANNOUNCEMENT

FOR THE YEAR ENDED 31 MARCH 2022

FINAL RESULTS

The Board of Directors (the "Board") of New Provenance Everlasting Holdings Limited (the "Company") announces the audited consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 31 March 2022 together with comparative figures of the preceding financial year as follows:

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the year ended 31 March 2022

		2022				2021
	Notes	HK$'000	HK$'000
Continuing operations
Revenue	3(a)	262,229				601,950
Cost of sales		(251,321)	(590,884)
Gross profit		10,908				11,066
Other net income	4	2,057				2,238
Selling and distribution costs		(886)	(794)
Administrative expenses		(13,601)	(18,684)
Other operating expenses		(4,425)	(3,852)
Loss from operations		(5,947)	(10,026)
Finance costs	5(a)	(889)	(1,886)
Loss before taxation	5	(6,836)	(11,912)
Income tax	6	1,399				(3,078)
Loss for the year from continuing operations		(5,437)	(14,990)

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		2022		2021
	Notes	HK$'000	HK$'000
Discontinued operation
Loss for the year from discontinued operation	8	-	(23,009)
Loss for the year		(5,437)	(37,999)
Attributable to:
Owners of the Company		(5,452)	(37,907)
Non-controlling interests		15		(92)
Loss for the year		(5,437)	(37,999)
Loss for the year attributable to
owners of the Company:
- from continuing operations		(5,452)	(14,898)
- from discontinued operation		-	(23,009)
		(5,452)	(37,907)
		HK Cent	HK Cent
Loss per share	9
From continuing operations
Basic and diluted		(0.026)	(0.071)
From discontinued operation
Basic and diluted		-	(0.109)
From continuing and discontinued operations
Basic and diluted		(0.026)	(0.180)

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CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the year ended 31 March 2022

		2022		2021
		HK$'000	HK$'000
Loss for the year	(5,437)	(37,999)
Other comprehensive income for the year
Items that may be reclassified subsequently to profit or loss:
Exchange differences arising on translation of
financial statements of subsidiaries	20,593		40,161
Reclassification adjustments for the deregistration of
a subsidiary	1,532		-
Reclassification adjustments for a foreign operation
disposed of during the year	-	17,422
Other comprehensive income for the year
(net of nil tax (2021: nil))	22,125		57,583
Total comprehensive income for the year	16,688		19,584
Attributable to:
Owners of the Company	16,906		20,100
Non-controlling interests	(218)	(516)
		16,688		19,584
Total comprehensive income/(expenses) attributable to
owners of the Company arise from:
Continuing operations	16,906		25,471
Discontinued operation	-	(5,371)
		16,906		20,100

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CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 31 March 2022

		2022	2021
	Notes	HK$'000		HK$'000
Non-current assets
Property, plant and equipment		31,610	31,802
Right-of-use assets		23,796	28,767
Goodwill		-		-
Other intangible asset		-		-
Deferred tax assets		40	41
		55,446	60,610
Current assets
Inventories		57,553	31,275
Trade receivables	10	98,920	519,263
Prepayments, deposits and other receivables		404,082	359,100
Cash and cash equivalents		9,018	7,518
		569,573	917,156
Current liabilities
Trade payables	11	45,840	409,568
Accruals, deposits and other payables		37,451	35,773
Lease liabilities		1,063	1,393
Tax payable		2,964	5,187
		87,318	451,921

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	2022		2021
Notes	HK$'000	HK$'000
Net current assets	482,255		465,235
Total assets less current liabilities	537,701		525,845
Non-current liabilities
Lease liabilities	15,611		20,443
Deferred tax liabilities	66		66
	15,677		20,509
Net assets	522,024		505,336
Equity
Equity attributable to owners of the Company
Share capital	4,217		4,217
Reserves	526,860		509,954
	531,077		514,171
Non-controlling interests	(9,053)	(8,835)
Total equity	522,024		505,336

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