UMP Healthcare : Interim Results Announcement for the six months ended 31 December 2021

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UMP HEALTHCARE HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 722)

INTERIM RESULTS ANNOUNCEMENT

FOR THE SIX MONTHS ENDED 31 DECEMBER 2021

The board of directors ("Board") of UMP Healthcare Holdings Limited (the "Company" or "UMP") is pleased to announce the interim results of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 31 December 2021 together with the comparative figures for the corresponding period in 2020.

INTERIM RESULTS HIGHLIGHTS
			Six months ended
			31 December
		2021	2020	Increase/
			HK$'000		HK$'000	(decrease)
		(Unaudited)		(Unaudited)
					(Restated)
Continuing operations
Revenue	358,210	299,221	19.7%
Profit before tax	60,155	57,083	5.4%
Depreciation and amortisation	37,603	37,970	(1.0%)
Discontinued operation	1,197
Profit/(loss) for the period	(14,519)	108.2%
Continuing and discontinued operations	104,168
EBITDA(1)	83,358	25.0%
Profit for the period	50,371	32,574	54.6%
Revenue from continuing operations
Hong Kong & Macau Corporate	123,517
Healthcare Solution Services	121,615	1.6%
Hong Kong & Macau Clinical Healthcare Services	211,988	160,122	32.4%
Mainland China Clinical Healthcare Business		22,705		17,484	29.9%
			358,210		299,221	19.7%
(1)	EBITDA represents earnings before interest (including interest expenses on lease liabilities), tax,
	depreciation (including depreciation on right-of-use assets) and amortisation.

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CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Six months ended 31 December 2021

		Six months ended 31 December
		2021			2020
	Notes	HK$'000	HK$'000
		(Unaudited)	(Unaudited)
					(Restated)
CONTINUING OPERATIONS
REVENUE	5	358,210			299,221
Other income and gains	5	4,278			3,832
Professional services expenses		(127,297)		(109,674)
Employee benefit expense		(83,890)		(51,972)
Property rental and related expenses		(4,637)		(3,913)
Cost of inventories consumed		(19,946)		(14,801)
Depreciation and amortisation		(37,603)		(37,970)
Other expenses, net		(29,245)		(27,018)
Finance cost		(1,834)		(1,804)
Share of profits of:		618
Joint ventures				-
Associates		1,501			1,182
PROFIT BEFORE TAX	6	60,155			57,083
Income tax expense	7	(10,981)		(9,990)
PROFIT FOR THE PERIOD FROM
CONTINUING OPERATIONS		49,174			47,093
Discontinued operation
	1,197
Profit/(loss) for the period from discontinued operation	8			(14,519)
PROFIT FOR THE PERIOD		50,371			32,574
Attributable to:
Owners of the Company		44,661
From continuing operations				42,694
From discontinued operation		1,666			(11,615)
		46,327			31,079
Non-controlling interests		4,044			1,495
		50,371			32,574
EARNINGS/(LOSS) PER SHARE
ATTRIBUTABLE TO ORDINARY EQUITY
HOLDERS OF THE COMPANY	10
Basic and diluted		HK5.835 cents
- Continuing operations		HK5.640 cents
- Discontinued operation		HK0.218 cents	HK(1.535) cents
Total - included discontinued operation		HK6.053 cents	HK4.105 cents

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CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Six months ended 31 December 2021

	Six months ended
	31 December
	2021		2020
	HK$'000	HK$'000
	(Unaudited)	(Unaudited)
			(Restated)
PROFIT FOR THE PERIOD	50,371		32,574
OTHER COMPREHENSIVE INCOME/(LOSS)
Other comprehensive income/(loss) that may be
reclassified to profit or loss in subsequent periods:
Exchange differences on translation of
foreign operations	707		2,494
Release of reserve upon disposal of
subsidiaries	(1,786)	1,279
Net other comprehensive income/(loss) that may be
reclassified to profit or loss in subsequent periods	(1,079)	3,773
Other comprehensive income/(loss) that will not be
reclassified to profit or loss in subsequent periods:
Changes in fair value of equity investments designated
at fair value through other comprehensive income	3,717		(2,411)
OTHER COMPREHENSIVE INCOME
FOR THE PERIOD, NET OF TAX	2,638		1,362
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD	53,009		33,936
Attributable to:
Owners of the Company	48,965		32,441
Non-controlling interests	4,044		1,495
	53,009		33,936

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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

31 December 2021

		31 December		30 June
		2021	2021
	Notes	HK$'000		HK$'000
		(Unaudited)		(Audited)
NON-CURRENT ASSETS
Property, plant and equipment		102,453	99,430
Right-of-use assets		87,765	73,666
Goodwill		164,768	164,768
Other intangible assets		60,767	61,681
Investments in joint ventures		8,589	7,970
Investments in associates		12,588	4,501
Financial assets at amortised cost	11	6,385	19,025
Investments at fair value through other
comprehensive income	12	26,967	23,603
Deferred tax assets		1,389	1,417
Deposits		19,175	20,544
Total non-current assets		490,846	476,605
CURRENT ASSETS
Inventories		10,479	9,198
Trade receivables	13	96,872	83,364
Prepayments, other receivables and
other assets		30,478	18,088
Financial assets at fair value through
profit or loss		31,807	27,115
Financial assets at amortised cost	11	26,613	14,046
Amounts due from associates		17,885	3,730
Amount due from a joint venture		2,151	451
Amounts due from related companies		1,894	1,220
Tax recoverable		69	551
Pledged deposits		2,393	1,893
Cash and cash equivalents		259,410	293,974
		480,051	453,630
Assets of disposal groups classified as
held for sale		-	39,742
Total current assets		480,051	493,372

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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(CONTINUED) 31 December 2021

		31 December			30 June
		2021	2021
	Notes	HK$'000			HK$'000
		(Unaudited)			(Audited)
CURRENT LIABILITIES		44,243
Trade payables	14	62,185
Other payables and accruals		86,352	64,376
Amounts due to associates		117			-
Amounts due to related companies		2,269	5,618
Amount due to a joint venture		875	561
Lease liabilities		44,368	38,731
Tax payable		22,088	26,848
Liabilities associated with the disposal groups		200,312	198,319
	-
classified as held for sale		24,441
Total current liabilities		200,312	222,760
NET CURRENT ASSETS		279,739	270,612
TOTAL ASSETS LESS CURRENT
LIABILITIES		770,585	747,217
NON-CURRENT LIABILITIES
	46,767
Lease liabilities		39,296
Deferred tax liabilities		12,045	12,238
Provision		2,631	2,627
Total non-current liabilities		61,443	54,161
Net assets		709,142	693,056
EQUITY
Equity attributable to owners of the
Company		775
Issued capital	15	775
Reserves		668,834	638,723
		669,609	639,498
Non-controlling interests		39,533	53,558
Total equity		709,142	693,056

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