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HK Bourse: Announcement From Golik Holdings Ltd. -2-

28 Aug 2017 12:32 am
 
 
 
                                                                    310 
 Income tax recoverable                                                               163 
                                                                      - 
 Amount due from an associate                                                         253 
                                                                  5,029 
 Available-for-sale investment                                                          - 
                                                                346,465 
 Bank balances and cash                                                           574,941 
 
                                                               1,510,770        1,419,053 
 
Current Liabilities 
                                                                214,582 
 Trade and other payables                             11                          228,339 
                                                                 16,858 
 Dividend payable                                                                       - 
                                                                  3,200 
 Amounts due to non-controlling shareholders                                       14,970 
                                                                 16,649 
 Income tax payable                                                                11,222 
                                                                666,926 
 Bank borrowings                                                                  502,920 
                                                                    722 
 Obligations under finance leases                                                     813 
 Obligation arising from a put option to 
                                                                      - 
    non-controlling shareholders                                                   31,050 
                                                                      - 
 Derivative financial instruments                                                  12,474 
 
                                                                918,937           801,788 
 
Net Current Assets                                              591,833           617,265 
 
                                                               1,126,144        1,108,694 
 
 
 
 
                                               -3- 
                                                             As at             As at 
                                                        30th June,   31st December, 
                                                              2017             2016 
                                                          HK$'000          HK$'000 
                                                       (unaudited)         (audited) 
 
Capital and Reserves 
                                                           56,192 
  Share capital                                                              56,192 
                                                          973,030 
  Share premium and reserves                                                967,324 
 
                                                         1,029,222 
  Equity attributable to shareholders of the Company                      1,023,516 
                                                            48,734 
  Non-controlling interests                                                  34,304 
 
Total Equity                                             1,077,956        1,057,820 
 
Non-current Liabilities 
                                                           25,833 
  Bank borrowings                                                            28,333 
                                                           21,685 
  Deferred tax liabilities                                                   21,545 
                                                              670 
  Obligations under finance leases                                              996 
 
                                                           48,188            50,874 
 
                                                         1,126,144        1,108,694 
 
 
 
 
                                                -4- 
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 
 
1.   BASIS OF PREPARATION 
 
     The condensed consolidated financial statements have been prepared in accordance with Hong Kong Accounting 
     Standard ("HKAS") 34 Interim Financial Reporting issued by the Hong Kong Institute of Certified Public 
     Accountants (the "HKICPA") as well as with the applicable disclosure requirements of Appendix 16 to the 
     Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. 
 
2.   PRINCIPAL ACCOUNTING POLICIES 
 
 
     The condensed consolidated financial statements have been prepared on the historical cost basis except for 
     investment properties and certain financial instruments, which are measured at fair values, as appropriate. 
 
     Except as described below, the accounting policies and methods of computation used in the condensed 
     consolidated financial statements for the six months ended 30th June, 2017 are the same as those followed in the 
     preparation of the Group's annual consolidated financial statements for the year ended 31st December, 2016. 
 
     In the current interim period, the Group has applied, for the first time, the following amendments to Hong Kong 
     Financial Reporting Standards ("HKFRSs") issued by the HKICPA that are relevant for the preparation of the 
     Group's condensed consolidated financial statements: 
 
     Amendments to HKAS 7                        Disclosure Initiative 
     Amendments to HKAS 12                       Recognition of Deferred Tax Assets for Unrealised Losses 
     Amendments to HKFRS 12                      As part of the Annual Improvements to HKFRSs 2014 - 2016 Cycle 
 
     The application of the above amendments to HKFRSs in the current period has had no material effect on the 
     amounts reported in these condensed consolidated financial statements and/or disclosures set out in these 
     condensed consolidated financial statements. Additional disclosures about changes in liabilities arising from 
     financing activities, including both changes from cash flows and non-cash changes on application of 
     amendments to HKAS 7 will be provided in the consolidated financial statements for the year ending 31st 
     December, 2017. 
 
3.   REVENUE AND SEGMENT INFORMATION 
 
     Revenue represents the amounts received and receivable for goods sold by the Group to outside customers, net 
     of discounts and sales related taxes. 
 
     Information reported to the Chairman and the Vice Chairman of the Group, being the chief operating decision 
     makers, for the purposes of resource allocation and assessment of segment performance focuses on types of 
     goods sold. 
 
     Specifically, the Group's operating and reportable segments under HKFRS 8 Operating Segments are as 
     follows: 
 
     1.    Metal products 
     2.    Building construction materials 
 
     In addition, the Group's operations relating to plastic products and printing materials are aggregated and 
     presented as other operations. 
 
 
 
 
                                                       -5- 
The following is an analysis of the Group's revenue and results by reportable segment for the period under 
review: 
 
For the six months ended 30th June, 2017 (unaudited) 
 
                                                           Building       Reportable 
                                                  Metal construction        segment         Other 
                                               products    materials           total    operations Eliminations Consolidated 
                                               HK$'000     HK$'000          HK$'000      HK$'000       HK$'000     HK$'000 
 
REVENUE 
 
                                                437,746         741,468    1,179,214       19,952              -     1,199,166 
External sales 
                                                  2,676              39        2,715            -         (2,715)            - 
Inter-segment sales 
 
                                                440,422         741,507    1,181,929       19,952         (2,715)    1,199,166 
Total 
 
 
SEGMENT RESULT                                   39,196          10,010       49,206       (2,603)          141         46,744 
 
 
                                                                                                                         1,427 
Unallocated other income 
                                                                                                                       (10,840) 
Unallocated corporate expenses 
                                                                                                                        (7,510) 
Finance costs 
                                                                                                                           344 
Share of result of a joint venture 
                                                                                                                        (3,366) 
Share of result of an associate 
 
                                                                                                                        26,799 
Profit before taxation 
 
 
For the six months ended 30th June, 2016 (unaudited) 
 
                                                              Building    Reportable 
 
 
 
 

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August 27, 2017 20:32 ET (00:32 GMT)
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