Tempus : Announcement of Interim Results for the Six Months Ended 30 June 2017

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TEMPUS HOLDINGS LIMITED

騰 邦 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 06880) ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017

PERFORMANCE HIGHLIGHTS

Revenue for the six months ended 30 June 2017 was approximately HK$290.7 million, representing an increase of approximately 14.7% as compared with approximately HK$253.5 million for the six months ended 30 June 2016.

Gross profit for the six months ended 30 June 2017 was approximately HK$155.7 million, representing an increase of approximately 1.2% as compared with approximately HK$153.9 million for the six months ended 30 June 2016.

Profit for the six months ended 30 June 2017 was approximately HK$1.0 million, representing a decrease of approximately 79.6% as compared with approximately HK$4.9 million for the six months ended 30 June 2016.

No interim dividend is declared for the six months ended 30 June 2017.

INTERIM RESULTS

The board (the "Board") of directors (the "Directors") of Tempus Holdings Limited (the "Company") announces the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2017 (the "Period") together with the comparative figures for the six months ended 30 June 2016 and the relevant explanatory notes as set out below. The interim results for the Period are unaudited, but have been reviewed by the audit committee (the "Audit Committee") of the Company.

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the six months ended 30 June 2017

Six months ended
30 June 2017	30 June 2016
Notes	HK$'000	HK$'000
(Unaudited)	(Unaudited)
Revenue	3	290,655	253,515
Other income	10,310	2,980
Other gains and losses	4	5,479	108
Changes in inventories of finished goods	(1,456)	16,653
Finished goods purchased	(115,848)	(112,336)
Staff costs	(67,997)	(58,947)
Depreciation and amortisation expense	(7,151)	(4,889)
Finance costs	5	(2,120)	(107)
Other expenses	(107,708)	(90,410)
Profit before tax	6	4,164	6,567
Income tax expense	7	(3,188)	(1,629)
Profit for the period	976	4,938
Other comprehensive income (expense):
Item that may be subsequently reclassified to profit or loss:
Exchange difference arising on translation	3,363	(2,084)
Item that will not be reclassified to profit or loss:
Revaluation gain on transfer of owner-occupied properties to investment properties	10	2,332	-
5,695	(2,084)
Total comprehensive income for the period	6,671	2,854
Profit for the period attributable to:
Owners of the Company	410	4,938
Non-controlling interest	566	-
976	4,938
Total comprehensive income attributable to:
Owners of the Company	6,105	2,854
Non-controlling interest	566	-
6,671	2,854
Earnings per share:	9
Basic (HK cents)	0.12	1.41
Diluted (HK cents)	0.12	1.41

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 30 June 2017

30 June 2017	31 December 2016
Notes	HK$'000	HK$'000
(Unaudited)	(Audited)
Non-current assets
Property, plant and equipment	10	24,395	277,414
Investment properties	11	266,400	10,254
Deferred tax assets	1,253	1,253
Intangible assets	3,426	3,807
Goodwill	2,657	2,657
Utility and other deposits paid	12,776	9,773
310,907	305,158
Current assets
Inventories	31,865	33,321
Trade and other receivables and prepayments	12	82,952	90,017
Utility and other deposits paid	6,094	9,446
Amounts due from related companies	2,200	815
Loans receivable	13	58,749	-
Tax recoverable	1,270	1,138
Pledged bank deposits	9,527	11,545
Bank balances and cash	293,199	171,045
485,856	317,327
Current liabilities
Trade and other payables	14	61,218	56,036
Amounts due to a related and group companies	829	739
Obligations under finance leases	2,371	2,355
Tax payable	4,648	3,601
Bank borrowings	15	152,666	152,684
Bank overdraft	478	938
Convertible notes	16	160,394	-
382,604	216,353

30 June 2017	31 December 2016
Note	HK$'000	HK$'000
(Unaudited)	(Audited)
Net current assets	103,252	100,974
Total assets less current liabilities	414,159	406,132
Non-current liability
Obligations under finance leases	3,600	4,790
Net assets	410,559	401,342
Capital and reserves
Share capital	17	27,279	27,279
Reserves	379,190	370,539
Equity attributable to owners of the Company	406,469	397,818
Non-controlling interest	4,090	3,524
Total equity	410,559	401,342