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HK Bourse: Announcement From Golik Holdings Ltd. -4-

28 Aug 2017 12:33 am
 
 
 
     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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