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HK Bourse: Results Announcement From L'sea Resources International Holdings Ltd.

3 Apr 2017 4:08 am
 
    For full details, please click on the following link: 
http://www.hkexnews.hk/listedco/listconews/sehk/2017/0403/LTN20170403421.pdf 
 
 
 
                             ANNOUNCEMENT OF ANNUAL RESULTS 
                            FOR THE YEAR ENDED 31 DECEMBER 2016 
 
The board ("Board") of directors ("Directors") of L'sea Resources International Holdings Limited (the 
"Company") is pleased to announce the audited consolidated results of the Company and its 
subsidiaries (the "Group") for the year ended 31 December 2016 as follows: 
 
 
 
 
                                                          -1- 
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE 
INCOME 
For the year ended 31 December 2016 
 
                                                                                 2015 
                                                                     2016 
                                                                  HK$'000 
                                                          Notes               HK$'000 
 
Revenue                                                    4                   344,497 
                                                                   377,628 
Cost of sales                                                                 (356,209) 
                                                                  (332,763) 
Gross profit (loss)                                                            (11,712) 
                                                                    44,865 
Interest income                                                                  1,175 
                                                                       655 
Administrative expenses                                                        (36,556) 
                                                                   (42,650) 
Other expenses                                             5                    (6,610) 
                                                                    (4,389) 
Other gains and losses                                     6                     9,074 
                                                                    14,067 
Finance costs                                              7                   (29,026) 
                                                                   (10,420) 
Reversal of impairment loss (impairment loss) 
  recognised on property, plant and equipment                                  (87,253) 
                                                                  119,176 
Reversal of impairment loss (impairment loss) 
  recognised on exploration and evaluation assets                              (58,395) 
                                                                   51,245 
 
Profit (loss) before taxation                                                 (219,303) 
                                                                  172,549 
Taxation (charge) credit                                   9                    44,778 
                                                                  (63,427) 
 
Profit (loss) for the year                                 10                 (174,525) 
                                                                  109,122 
Other comprehensive expense for the year 
Item that will not be reclassified to profit or loss: 
  Exchange difference arising on translation to 
    presentation currency                                                      (34,232) 
                                                                    (5,921) 
 
Total comprehensive income (expense) for the year                             (208,757) 
                                                                  103,201 
 
Profit (loss) for the year attributable to: 
  Owners of the Company                                                       (144,343) 
                                                                   84,119 
  Non-controlling interests                                                    (30,182) 
                                                                   25,003 
 
                                                                              (174,525) 
                                                                  109,122 
 
Total comprehensive income (expense) attributable to: 
 Owners of the Company                                                        (174,495) 
                                                                   78,579 
 Non-controlling interests                                                     (34,262) 
                                                                   24,622 
 
                                                                              (208,757) 
                                                                  103,201 
 
                                                           11 
Earnings (loss) per share 
Basic (HK cents)                                                                 (2.81) 
 
                                                                      1.64 
 
Diluted (HK cents)                                                                N/A 
                                                                      1.64 
 
 
 
                                                    -2- 
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
At 31 December 2016 
 
                                                                            2015 
                                                                2016 
                                                             HK$'000 
                                                     Notes               HK$'000 
 
Non-current assets 
 Property, plant and equipment                                           194,316 
                                                             337,967 
 Exploration and evaluation assets                                        88,194 
                                                             129,836 
 Deposits                                                                 11,661 
                                                              11,523 
                                                                  -- 
 Deferred tax assets                                                      18,012 
 
                                                                         312,183 
                                                             479,326 
 
Current assets 
 Inventories                                                              12,760 
                                                              19,585 
 Trade receivables                                    12                  20,537 
                                                              53,276 
 Other receivables, prepayments and deposits                               6,886 
                                                               5,272 
 Held-for-trading investments                                              4,512 
                                                               3,920 
 Bank balances and cash                                                  163,965 
                                                             160,499 
 
                                                                         208,660 
                                                             242,552 
 
Current liabilities 
 Trade payables                                       13                  40,000 
                                                              22,026 
 Other payables and accruals                                              84,522 
                                                              95,264 
                                                                              -- 
 Other borrowing                                      14     184,055 
 Obligations under finance leases                                            373 
                                                              16,562 
                                                                  -- 
 Convertible bonds                                                       175,721 
 
                                                                         300,616 
                                                             317,907 
 
Net current liabilities                                                   (91,956) 
                                                              (75,355) 
 
Total assets less current liabilities                                    220,227 
                                                             403,971 
 
 
 
 
                                               -3- 
                                                                           2015 
                                                                2016 
                                                             HK$'000 
                                                     Notes              HK$'000 
 
Capital and reserves 
 Share capital                                                           25,650 
                                                              25,650 
 Reserves                                                               216,082 
                                                             294,661 
 
Equity attributable to owners of the Company                            241,732 
                                                             320,311 
Non-controlling interests                                               (34,651) 
                                                             (10,029) 
 
Total equity                                                            207,081 
                                                             310,282 
 
Non-current liabilities 
 Obligations under finance leases                                           903 
 
 
 
 

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