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
(MORE TO FOLLOW) Dow Jones Newswires
August 27, 2017 20:32 ET (00:32 GMT)
|
