APAC Resources Limited (“APAC” or the “Company”) and its subsidiaries (collectively, the “Group”) reported a net profit
attributable to shareholders of the Company of HK$328,115,000 for the twelve months ended 30 June 2018 (“FY 2018”),
compared with a net profit attributable to shareholders of the Company of HK$548,595,000 for the twelve months ended 30
June 2017 (“FY 2017”). In our core business segments we generated HK$105,551,000 which is 32% higher than in FY
2017. Other significant drivers for FY 2018 includes HK$179,130,000 from our share of results of associates, and
HK$67,506,000 from a reversal of impairment loss on the carrying value of the Group’s investment in Mount Gibson Iron
Limited (“Mount Gibson”). FY 2017 benefitted from a one-off gain arising from derecognition of our investment in associates
of HK$189,599,000, and HK$107,720,000 from an adjustment to carrying amount of loans receivable.
Primary Strategic Investments
Other Significant
Investments
Available-for-sale Investments - Metals X and Westgold
Resources
Equity Investments at fair value through profit loss -
Resource Investment
Commodity Business
Principal
Investment and Financial Services
Money Lending
Liquidity, Financial Resources and Capital Structure
As
at 30 June 2018, our non-current assets amounted to
HK$1,921,554,000 (As at 30 June 2017: HK$1,431,077,000) and
net current assets amounted to HK$1,130,770,000 (As at 30 June
2017: HK$1,462,760,000) with a current ratio of 20.1 times
(As at 30 June 2017: 65.1 times) calculated on the basis of
its current assets over current liabilities. Included in
non-current assets and current assets are loan notes
of HK$51,420,000 (As at 30 June 2017: HK$190,362,000) and
loans
receivable of HK$399,276,000 (As at 30 June 2017:
HK$232,138,000).
As at 30 June 2018, we had borrowings of HK$43,500,000 (As at
30 June 2017: Nil) and had undrawn banking facilities
amounting to HK$182,581,000 secured against certain term
deposits of the Group. As at 30 June 2018, we had a gearing
ratio of 0.01 (As at 30 June 2017: Nil), calculated on the
basis of total borrowings over equity attributable to owners
of the
Company.
|
