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HK Bourse: Results Announcement From Cosco International Holdings Ltd. -5-

23 Mar 2017 4:20 am
 
 
 
  amount capitalised             14,281         2,769         270         211                    17,531       1,224                                18,755 
Net reversal of provision 
  for impairment of 
                                                   --           --              --          --                        --          --             -- 
  inventories                     (1,013)                                                         (1,013)                                           (1,013) 
Net (reversal of provision)/ 
  provision for impairment 
                                                               --              --          --                        --          --             -- 
  of trade receivables            (1,870)       4,059                                              2,189                                            2,189 
Net provision/(reversal of 
  provision) for 
  impairment of other 
                                      --                        --              --          --                                   --             -- 
  receivables                                      88                                                 88     (18,662)                              (18,574) 
Government subsidy 
                                                   --           --              --          --                        --          --             -- 
  income                         (50,471)                                                        (50,471)                                          (50,471) 
 
Additions to non-current 
  assets (other than 
  available-for-sale 
  financial assets and 
  deferred income tax 
                                                                                         --                                   --             -- 
  assets)                       148,688        24,802          54         620                   174,164         138                               174,302 
 
 
 
 
                                                                      -9- 
A reconciliation of the total of the reportable segments' profit before income tax to the Group's profit after income tax 
is as follows: 
 
                                                                                                                  2015 
                                                                                                2016 
                                                                                             HK$'000           HK$'000 
 
Profit before income tax for reportable segments                                                                395,543 
                                                                                              279,765 
Profit before income tax for all other segments                                                                   2,427 
                                                                                                4,405 
 
 
Profit before income tax for all segments                                                                       397,970 
                                                                                              284,170 
Elimination of segment income from corporate headquarters                                                          (111) 
                                                                                                 (138) 
Elimination of segment finance costs to corporate headquarters                                                    6,608 
                                                                                                  408 
Corporate finance income                                                                                         98,070 
                                                                                               77,868 
Corporate finance costs                                                                                             (17) 
                                                                                                  (23) 
Corporate expenses, net of income                                                                               (74,696) 
                                                                                              (62,195) 
 
 
Profit before income tax for the Group                                                                          427,824 
                                                                                              300,090 
Income tax expenses for all segments                                                                            (62,963) 
                                                                                              (39,102) 
Corporate income tax expenses                                                                                    (2,797) 
 
                                                                                              (24,488) 
 
 
Profit after income tax for the Group                                                                           362,064 
                                                                                              236,500 
 
A reconciliation of the total of the reportable segments' assets to the Group's total assets is as follows: 
 
                                                                                                                  2015 
                                                                                                2016 
                                                                                             HK$'000           HK$'000 
 
Total assets for reportable segments                                                                           4,812,358 
                                                                                             4,243,801 
Total assets for all other segments                                                                               83,358 
                                                                                                97,249 
Elimination of inter-segment receivables                                                                        (349,875) 
                                                                                              (235,396) 
 
 
                                                                                                               4,545,841 
                                                                                             4,105,654 
Corporate assets (mainly deposits and cash and cash equivalents)                                               5,223,410 
                                                                                             5,379,848 
Elimination of corporate headquarters' receivables from segments                                                (301,936) 
                                                                                               (97,358) 
 
 
Total assets for the Group                                                                                     9,467,315 
                                                                                             9,388,144 
 
 
 
 
                                                       - 10 - 
    A reconciliation of the total of the reportable segments' liabilities to the Group's total liabilities is as follows: 
 
                                                                                                                           2015 
                                                                                                       2016 
                                                                                                    HK$'000             HK$'000 
 
    Total liabilities for reportable segments                                                                          1,972,332 
                                                                                                   1,602,829 
    Elimination of inter-segment payables                                                                               (349,875) 
                                                                                                    (235,396) 
 
 
                                                                                                                       1,622,457 
                                                                                                   1,367,433 
    Corporate liabilities                                                                                                 47,170 
                                                                                                      72,328 
    Elimination of segment payables to corporate headquarters                                                           (301,936) 
                                                                                                     (97,358) 
 
 
    Total liabilities for the Group                                                                                    1,367,691 
                                                                                                   1,342,403 
 
    The Company is domiciled in Hong Kong. The Group's revenue from external customers derived from Hong Kong and 
    places other than Hong Kong were HK$862,957,000 (2015: HK$815,756,000) and HK$6,567,340,000 (2015: 
    HK$5,183,890,000) respectively. 
 
    The total of non-current assets, other than available-for-sale financial assets and deferred income tax assets, located in 
    Hong Kong and places other than Hong Kong were HK$677,131,000 (2015: HK$752,162,000) and HK$402,184,000 
 
 
 
 

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March 23, 2017 00:20 ET (04:20 GMT)
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