Modern Dental : Announcement of Interim Results for the Six Months Ended 30 June 2017, Interim Dividend and Closure of Register of Members
August 23, 2017 at 12:13 pm
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 3600)
ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017,
INTERIM DIVIDEND AND CLOSURE OF REGISTER OF MEMBERS
RESULTS HIGHLIGHTS
The Group's revenue in the six months ended 30 June 2017 was approximately HK$1,082,185,000, representing an increase of approximately HK$307,745,000 or 39.7% as compared with that of the six months ended 30 June 2016.
Gross profit for the six months ended 30 June 2017 was approximately HK$535,555,000, representing an increase of approximately HK$107,797,000 or 25.2% as compared with that of the six months ended 30 June 2016. The gross profit margin was approximately 49.5%.
Profit for the six months ended 30 June 2017 was approximately HK$85,518,000, representing an increase of HK$14,384,000 or 20.2% as compared with that of the six months ended 30 June 2016.
The Group's Adjusted EBITDA for the six months ended 30 June 2017 was approximately HK$173,674,000 (six months ended 30 June 2016: HK$166,290,000).
Basic earnings per share for the six months ended 30 June 2017 amounted to HK8.50 cents (six months ended 30 June 2016: HK7.10 cents).
The Board declared an interim dividend of HK2.5 cents per share for the six months ended 30 June 2017 (six months ended 30 June 2016: HK2.1 cents). The interim dividend will be payable on Friday, 6 October 2017 to shareholders of the Company whose names appear on the register of members of the Company on Wednesday, 13 September 2017.
INTERIM RESULTS
The board of directors (the "Board" or the "Directors") of Modern Dental Group Limited (the "Company") is pleased to announce the unaudited interim condensed consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 June 2017, together with the comparative figures for the corresponding period in 2016, as follows:
INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
FOR THE SIX MONTHS ENDED 30 JUNE 2017
Six months ended 30 June
Notes
2017
2016
(Unaudited)
(Unaudited)
HK$'000
HK$'000
REVENUE
4
1,082,185
774,440
Cost of sales
(546,630)
(346,682)
Gross profit
535,555
427,758
Other income and gains
4
2,709
2,103
Selling and distribution expenses
(122,009)
(81,596)
Administrative expenses
(293,104)
(219,475)
Other operating expenses
(1,492)
(15,326)
Finance costs
6
(14,155)
(14,265)
PROFIT BEFORE TAX
5
107,504
99,199
Income tax expense
7
(21,986)
(28,065)
PROFIT FOR THE PERIOD
85,518
71,134
ATTRIBUTABLE TO:
Owners of the Parent
84,700
70,442
Non-controlling interests
818
692
85,518
71,134
EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS
OF THE PARENT
Basic
8
HK8.50 cents
HK7.10 cents
Diluted
8
HK8.50 cents
HK7.10 cents
INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 30 JUNE 2017
Six months ended 30 June
2017
2016
(Unaudited)
(Unaudited)
HK$'000
HK$'000
PROFIT FOR THE PERIOD
85,518
71,134
OTHER COMPREHENSIVE INCOME
Other comprehensive income to be reclassified
to profit or loss in subsequent periods:
Exchange differences on translation of
foreign operations
108,100
11,184
OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF TAX
108,100
11,184
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
193,618
82,318
ATTRIBUTABLE TO:
Owners of the Parent
192,732
81,557
Non-controlling interests
886
761
193,618
82,318
Modern Dental Group Ltd. published this content on 23 August 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 August 2017 16:12:04 UTC.
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Modern Dental Group Limited is an investment holding company principally engaged in the production and distribution of prosthetic devices. The Company operates its business through three segments. The Fixed Prosthetic Devices segment is engaged in the supply of restorative dental procedures, including crowns, bridge and implants. The Removable Prosthetic Devices segment is engaged in the production of full dentures and partial dentures. The Others segment is engaged in the production of orthodontic devices, sport guards and anti-snoring devices and the provision of educational events and seminars rendered services.