Luks Vietnam : Announcements and Notices - Final Results for the Year Ended 31 December 2016

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LUKS GROUP (VIETNAM HOLDINGS) COMPANY LIMITED

陸陸陸陸氏氏氏氏集集集集團團團團（（（（越越越越南南南南控控控控股股股股））））有有有有限限限限公公公公司司司司

(incorporated in Bermuda with limited liability)

(Stock code: 366) FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016

The Board of Directors (the "Board") of Luks Group (Vietnam Holdings) Company Limited (the "Company") is pleased to announce the consolidated results of the Company and its subsidiaries (collectively, the "Group") for the year ended 31 December 2016. The annual results have been reviewed by the audit committee of the Company.

CONSOLIDATED STATEMENT OF PROFIT OR LOSS Year ended 31 December 2016 Notes	2016 2015 HK$'000 HK$'000
REVENUE 3	622,685 610,327
Cost of sales	(402,392) (388,113)
Gross profit	220,293 222,214
Other income and gains 3	13,088 15,590
Fair value gains on investment properties, net	9,240 12,117
Selling and distribution expenses	(51,038) (49,919)
Administrative expenses	(61,392) (68,066)
Other expenses	(1,169) (7,935)
Finance costs 5	(882) (1,762)
PROFIT BEFORE TAX 4	128,140 122,239
Income tax expense 6	(21,274) (33,708)
PROFIT FOR THE YEAR	106,866 88,531
Attributable to:
Owners of the parent	111,974 89,580
Non-controlling interests	(5,108) (1,049)
106,866 88,531
EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT 8
Basic and diluted	HK 22.2 cents HK 17.7 cents

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Year ended 31 December 2016

2016 2015 HK$'000 HK$'000

PROFIT FOR THE YEAR 106,866 88,531

OTHER COMPREHENSIVE LOSS

Other comprehensive loss to be reclassified to profit or loss in subsequent periods:

Exchange differences on translation of foreign operations	(17,256) (67,506)
OTHER COMPREHENSIVE LOSS FOR THE YEAR	(17,256) (67,506)
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	89,610 21,025
Attributable to:
Owners of the parent	89,361 22,115
Non-controlling interests	249 (1,090)
89,610 21,025

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

31 December 2016

2016 2015

Notes HK$'000 HK$'000

NON-CURRENT ASSETS Property, plant and equipment	1,337,298	1,168,608
Investment properties	951,568	953,847
Prepaid land lease payments Investment in a joint venture Properties for development	1,075 - 32,074	2,894 - 32,409
Deposits	33,534 33,819
Total non-current assets	2,355,549 2,191,577
CURRENT ASSETS
Inventories	68,721	71,138
Trade receivables	9	31,375	33,267
Prepayments, deposits and other receivables	10,334	15,162
Equity investments at fair value through profit or loss	58	-
Cash and cash equivalents	208,984 294,377
Total current assets	319,472 413,944
CURRENT LIABILITIES
Trade payables	10	5,896	8,982
Other payables and accruals	138,625	109,726
Due to a director	516	46
Due to a related company	4,380	4,381
Interest-bearing bank and other borrowings	44,025	24,948
Tax payable	20,825 33,603
Total current liabilities	214,267 181,686
NET CURRENT ASSETS	105,205 232,258
TOTAL ASSETS LESS CURRENT LIABILITIES	2,460,754 2,423,835

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Continued)

31 December 2016

2016 2015 HK$'000 HK$'000 TOTAL ASSETS LESS CURRENT LIABILITIES 2,460,754 2,423,835

NON-CURRENT LIABILITIES
Interest-bearing bank and other borrowings	1,509	1,327
Rental deposits	13,960	17,519
Provisions	4,157	4,661

Deferred tax liabilities 205,572 203,852

Total non-current liabilities 225,198 227,359

Net assets	2,235,556	2,196,476
EQUITY Equity attributable to owners of the parent
Issued capital	5,053	5,053

Reserves 2,261,919 2,223,088

2,266,972 2,228,141

Non-controlling interests (31,416) (31,665) Total equity 2,235,556 2,196,476