PARKSON RETAIL GROUP LIMITED 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.
PARKSON RETAIL GROUP LIMITED
百盛商業集團有限公司(Incorporated in Cayman Islands with limited liability) (Stock Code : 3368 & 5936)
FINAL RESULTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016HIGHLIGHTS
Total Gross Sales Proceeds ("GSP") decreased by 8.3% to RMB16,598.5 million.
Same Store Sales ("SSS") for the Fourth Quarter ("Q4") increased by 1.4%, rebounded from the decline of 9.0% in the first 9 months of 2016.
Merchandise gross margin decreased by 0.3% to 16.5% in 2016.
The Group recorded a gain (before tax) of RMB1,282.9 million from the disposal of a subsidiary.
The Group recorded profit attributable to owners of the parent of RMB147.3 million. Proposed interim dividend of approximately RMB53.0 million or RMB0.02 per share.
FINAL RESULTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016
The Board of Directors of Parkson Retail Group Limited (the "Company") is pleased to announce the audited consolidated results of the Company, its subsidiaries, a joint venture and associates for the year ended 31 December 2016 with comparative figures for the year 2015 as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
For the year ended 31 DecemberNotes | 2016 RMB'000 | 2015 RMB'000 | |
Revenues | 4,133,561 | 4,232,621 | |
Other operating revenues | 472,331 | 506,058 | |
Total operating revenues | 4 | 4,605,892 | 4,738,679 |
Operating expenses Purchases of goods and changes in inventories | (1,513,411) | (1,409,267) | |
Staff costs | (756,565) | (688,211) | |
Depreciation and amortisation | (482,180) | (405,638) | |
Rental expenses | (956,971) | (1,219,632) | |
Other operating expenses | (1,098,666) | (1,110,403) | |
Total operating expenses | (4,807,793) | (4,833,151) | |
Loss from operations | 5 | (201,901) | (94,472) |
Gain from disposal of a subsidiary | 1,282,861 | - | |
Goodwill impairment | (402,007) | - | |
Finance income | 6 | 80,314 | 130,183 |
Finance costs Share of profit/(loss) of : A joint venture | 6 | (166,852) 19,302 | (166,297) 24,027 |
Associates | (6,265) | (12,141) | |
Profit/(loss) from operations before income tax | 605,452 | (118,700) | |
Income tax expenses | 7 | (451,323) | (63,935) |
Profit/(loss) for the year | 154,129 | (182,635) | |
Profit/(loss) attributable to: Owners of the parent | 147,257 | (186,154) | |
Non-controlling interests | 6,872 | 3,519 | |
154,129 | (182,635) | ||
EARNINGS/(LOSS) PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT | 8 | ||
Basic | RMB0.056 | (RMB0.069) | |
Diluted | RMB0.056 | (RMB0.069) | |
DIVIDEND PER SHARE Interim | 9 | RMB0.02 | RMB0.04 |
Proposed final | - | RMB0.01 | |
RMB0.02 | RMB0.05 |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the year ended 31 December20162015
RMB'000 RMB'000
Profit/(loss) for the year 154,129 (182,635)
Other comprehensive incomeOther comprehensive income to be reclassified to profit or loss in subsequent periods:
Exchange differences on translation | (243,056) | (227,354) |
Other comprehensive income for the year, net of tax | (243,056) | (227,354) |
Total comprehensive income for the year | (88,927) | (409,989) |
Loss attributable to: Owners of the parent | (95,799) | (413,508) |
Non-controlling interests | 6,872 | 3,519 |
(88,927) | (409,989) |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 DecemberNotes 2016 2015
RMB'000 RMB'000
NON-CURRENT ASSETSProperty, plant and equipment | 3,991,438 | 5,151,089 |
Investment properties | 36,253 | 23,546 |
Prepaid land lease payments | 421,123 | 434,436 |
Intangible assets | 1,806,060 | 2,224,708 |
Investment in a joint venture | 28,612 | 29,056 |
Investment in associates | 49,124 | 55,389 |
Other assets | 331,839 | 404,146 |
Deferred tax assets | 223,948 | 281,958 |
Total non-current assets | 6,888,397 | 8,604,328 |
Inventories | 368,368 | 390,770 | |
Trade receivables | 10 | 120,345 | 61,130 |
Prepayments, deposits and other receivables | 563,503 | 794,828 | |
Investment in principal guaranteed deposits | 4,256,500 | 2,075,120 | |
Time deposits | 105,880 | 297,354 | |
Cash and cash equivalents | 864,010 | 980,899 | |
Dividend receivables | - | 21,122 | |
Total current assets | 6,278,606 | 4,621,223 |
Trade payables | 11 | (1,483,454) | (1,494,092) |
Customers' deposits, other payables and accruals | (1,551,472) | (1,604,341) | |
Interest-bearing bank loans | (538,991) | (644,186) | |
Tax payable | (258,751) | (45,434) | |
Total current liabilities | (3,832,668) | (3,788,053) | |
NET CURRENT ASSETS | 2,445,938 | 833,170 | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 9,334,335 | 9,437,498 |
Parkson Retail Group Ltd. published this content on 20 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 February 2017 04:28:06 UTC.
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