2015) was declared. The aggregate amount of the final dividend payable in the current period amounted to
HK$16,858,000 (six months ended 30th June, 2016: HK$19,667,000).
Subsequent to the end of the interim period, the directors have determined that an interim dividend of HK1.5
cents per share (six months ended 30th June, 2016: HK1.5 cents per share) will be paid to the shareholders of
the Company whose names appear in the register of members of the Company on 29th September, 2017.
9. EARNINGS PER SHARE
The calculation of the basic earnings per share is based on the profit for the period attributable to the
shareholders of the Company of HK$12,850,000 (six months ended 30th June, 2016: HK$42,069,000) and
561,922,500 (six months ended 30th June, 2016: 561,922,500) ordinary shares in issue during the period.
No diluted earnings per share for the six months ended 30th June, 2017 was presented as there were no potential
ordinary shares in issue as at 30th June, 2017.
The calculation of the diluted earnings per share for the six months ended 30th June, 2016 does not assume the
exercise of the written put option on shares of a subsidiary as it is anti-dilutive.
-8-
10. TRADE AND OTHER RECEIVABLES
As at As at
30th June, 31st December,
2017 2016
HK$'000 HK$'000
(unaudited) (audited)
617,192
Trade and bills receivables, net of allowance for doubtful debts 550,501
79,694
Prepayments, deposits and other receivables 61,885
696,886 612,386
Other than cash sales, the Group allows credit periods ranging from 30 to 90 days to its customers.
Trade and bills receivables, net of allowance for doubtful debts, with an aged analysis presented based on the
invoice date at the end of the reporting period, which approximated the respective revenue recognition dates as
follows:
As at As at
30th June, 31st December,
2017 2016
HK$'000 HK$'000
(unaudited) (audited)
285,254
0 - 30 days 240,117
177,024
31 - 60 days 160,655
85,822
61 - 90 days 74,838
39,789
91 - 120 days 31,009
29,303
More than 120 days 43,882
617,192 550,501
11. TRADE AND OTHER PAYABLES
As at As at
30th June, 31st December,
2017 2016
HK$'000 HK$'000
(unaudited) (audited)
118,217
Trade payables 119,855
96,365
Accruals, deposits received and other payables 108,484
214,582 228,339
Trade payables with an aged analysis presented based on the invoice date at the end of the reporting period as
follows:
As at As at
30th June, 31st December,
2017 2016
HK$'000 HK$'000
(unaudited) (audited)
66,405
0 - 30 days 52,958
38,393
31 - 60 days 39,492
6,350
61 - 90 days 20,011
4,442
91 - 120 days 2,857
2,627
More than 120 days 4,537
118,217 119,855
-9-
BUSINESS REVIEW
Metal products and building construction materials represent the two major core businesses during the
period under review.
For the six months ended 30th June, 2017, the Group's total revenue was HK$1,199,166,000,
representing an increase of 22% against the same period last year. After deduction of non-controlling
interests, profit attributable to shareholders of the Company amounted to HK$12,850,000, representing
a decrease of 69% compared to the same period last year.
A slump in profit was mainly due to the underperformance of steel product distribution business during
the period, and the unrealized efficiency of preliminary expenses consumed by the processing plants
for two new projects, namely high-end lifting wire rope and construction rebar cut-and-bend service.
The Board has declared an interim dividend of HK1.5 cents per share.
Metal Products
Metal products line of business comprises mainly of steel coil processing, steel wires and steel wire
rope products in the Mainland. Revenue for the period was HK$440,422,000, representing an increase
of 5% over the same period last year. Profit before interest and taxation was HK$39,196,000,
representing a decrease of 13% over the same period last year.
The manufacturing sector in the Mainland is facing daunting challenges that a rise in commodity prices has
led to an increase in raw materials costs, but the extra costs cannot be passed onto the downstream buyers
due to fierce market competition. As the environmental regulation for the Mainland manufacturing sector
is becoming ever stricter for the time being, enterprises' spending on environment protection has surged,
a noticeable number of middle to low-end metal products manufacturing businesses face closures.
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