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 Bermuda with limited liability)
(Stock code: 626; Website:www.publicfinancial.com.hk)
ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2018
The Board of Directors (the "Board") of Public Financial Holdings Limited (the "Company") is pleased to announce the consolidated results of the Company and its subsidiaries (the "Group") for the year ended 31 December 2018 with comparative figures as follows:
CONSOLIDATED INCOME STATEMENT
Year ended 31 December 2018 2017
NotesHK$'000 HK$'000
Interest income | 8 | 1,881,356 | 1,760,222 |
Interest expense | 8 | (478,913) | (386,590) |
NET INTEREST INCOME | 1,402,443 | 1,373,632 | |
Other operating income | 9 | 231,054 | 226,908 |
OPERATING INCOME | 1,633,497 | 1,600,540 | |
Operating expenses | 10 | (870,928) | (852,440) |
Changes in fair value of investment properties | 21,679 | 14,341 | |
OPERATING PROFIT BEFORE CREDIT LOSS | |||
EXPENSES/IMPAIRMENT ALLOWANCES | 784,248 | 762,441 | |
Credit loss expenses/impairment allowances | 11 | (162,046) | (146,093) |
OPERATING PROFIT AFTER CREDIT LOSS | |||
EXPENSES/IMPAIRMENT ALLOWANCES | 622,202 | 616,348 | |
Share of profit of a joint venture | - | 102 | |
PROFIT BEFORE TAX | 622,202 | 616,450 | |
Tax | 12 | (111,724) | (112,936) |
PROFIT FOR THE YEAR | 510,478 | 503,514 |
*
For identification purpose only
Year ended 31 December 2018 2017
Notes | ||
Owners of the Company | 510,478 | 503,514 |
EARNINGS PER SHARE (HK$) | 14 | |
Basic | 0.465 | 0.459 |
Diluted | 0.465 | 0.459 |
HK$'000 HK$'000
ATTRIBUTABLE TO:CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Year ended 31 December
2018 | 2017 | |
HK$'000 | HK$'000 | |
PROFIT FOR THE YEAR | 510,478 | 503,514 |
OTHER COMPREHENSIVE INCOME FOR THE YEAR | ||
Other comprehensive income to be reclassified to profit or loss in | ||
subsequent periods: | ||
Exchange differences on translating foreign operations, net of tax | (46,826) | 68,995 |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 463,652 | 572,509 |
ATTRIBUTABLE TO: | ||
Owners of the Company | 463,652 | 572,509 |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
ASSETS | |
Cash and short term placements | |
Placements with banks and financial institutions maturing | |
after one month but not more than twelve months | |
Derivative financial instruments | |
Loans and advances and receivables | 15 |
Available-for-sale financial assets | |
Equity investments at fair value through | |
other comprehensive income | |
Held-to-maturity investments at amortised cost | 16 |
Held-to-collect debt securities at amortised cost | 16 |
Investment properties | |
Property and equipment | |
Land held under finance leases | |
Interest in a joint venture | |
Deferred tax assets | |
Tax recoverable | |
Goodwill | 17 |
Intangible assets | |
Other assets | |
TOTAL ASSETS | |
EQUITY AND LIABILITIES | |
LIABILITIES | |
Deposits and balances of banks and | |
other financial institutions at amortised cost | |
Derivative financial instruments | |
Customer deposits at amortised cost | |
Certificates of deposit issued at amortised cost | |
Dividends payable | |
Unsecured bank loans at amortised cost | |
Current tax payable | |
Deferred tax liabilities | |
Other liabilities | |
TOTAL LIABILITIES | |
EQUITY ATTRIBUTABLE TO OWNERS OF | |
THE COMPANY | |
Issued capital | |
Reserves | 18 |
TOTAL EQUITY | |
TOTAL EQUITY AND LIABILITIES |
31 December | 31 December | |
2018 | 2017 | |
Notes | HK$'000 | HK$'000 |
3,953,773 | 4,872,533 | |
1,556,342 | 1,514,095 | |
2,541 | 4,317 | |
29,877,579 | 29,582,660 | |
- | 6,804 | |
6,804 | - | |
- | 5,671,749 | |
6,202,949 | - | |
345,715 | 328,739 | |
145,090 | 132,579 | |
676,073 | 634,368 | |
- | - | |
41,338 | 24,526 | |
1,222 | 830 | |
2,774,403 | 2,774,403 | |
718 | 718 | |
166,343 | 228,398 | |
45,750,890 | 45,776,719 | |
572,712 | 1,123,792 | |
7,275 | 1,696 | |
35,284,322 | 33,984,095 | |
- | 753,293 | |
186,646 | 175,667 | |
1,444,614 | 1,581,852 | |
15,298 | 38,823 | |
36,350 | 33,579 | |
455,863 | 462,671 | |
38,003,080 | 38,155,468 | |
109,792 | 109,792 | |
7,638,018 | 7,511,459 | |
7,747,810 | 7,621,251 | |
45,750,890 | 45,776,719 |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITYTOTAL EQUITYYear ended 31 December 2018 2017
Notes
HK$'000 HK$'000
As at 1 January (Reported) | 7,621,251 | 7,279,305 | |
Impact of adopting HKFRS 9 | 5 | (95,551) | - |
Restated opening balance under HKFRS 9 | 7,525,700 | 7,279,305 | |
Profit for the year | 510,478 | 503,514 | |
Other comprehensive income in translation reserve | (46,826) | 68,995 | |
Total comprehensive income for the year | 463,652 | 572,509 | |
Dividends declared on shares | 13(a) | (241,542) | (230,563) |
Balance at the end of the year | 7,747,810 | 7,621,251 |
Attachments
- Original document
- Permalink
Disclaimer
Public Financial Holdings Ltd. published this content on 17 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 January 2019 15:23:07 UTC