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C&T announces 2016 Full-Year Results
Hong Kong, March 17, 2017 - Leading locally listed information technology ("IT") software and services company, Computer And Technologies Holdings Limited (“C&T Holdings” or the "Group", Stock Code: SEHK 00046) announced today its audited results for the year ended December 31, 2016.
The Group's overall revenue grew by HK$39.6 million, or 18.1% to HK$258.7 million (2015: HK$219.1 million). The overall gross profit rose by HK$27.5 million, or 23.1% to HK$146.1 million (2015: HK$118.7 million) and the gross profit margin was also improved to 56.5% (2015: 54.2%).
During 2016, the Group's interest income decreased by HK$4.8 million, or 53.9% to HK$4.1 million (2015: HK$8.8 million) and the valuation gain on investment properties dropped by HK$2.2 million, or 68.8% to HK$1.0 million (2015: HK$3.2 million). On the other hand, the Group reduced it's holding of Renminbi (“RMB”) currency in Hong Kong and accordingly, the Group's foreign exchange loss was significantly reduced by HK$9.0 million, or 98.8% to HK$0.1 million (2015: HK$9.1 million).
In order to maintain the competitiveness of the Group software products, the Group has been increasing resources in research and development (“R&D”) and incurred additional costs of approximately HK$4.2 million in the reporting year. As a combined result of the above mentioned factors, the Group's consolidated net profit attributable to shareholders increased by 14.2% to HK$50.3 million (2015: HK$44.1 million). The basic earnings per share was 20.81 HK cents (2015: 18.27 HK cents) or an increase of 13.9% compared with last year.
Despite around HK$90 million cash outflow used in acquisitions during the reporting year, the Group's liquidity position remained strong. In view of sustained healthy financial position, the Board recommended the distribution of a final dividend of 7 HK cents (2015: 7 HK cents) per ordinary share and a special dividend of 3 HK cents (2015: Nil) per ordinary share. Including the interim dividend of 7 HK cents (2015: 7 HK cents), the full year dividend payout amounts to 17 HK cents.
Looking ahead to 2017, Mr. Ng Cheung Shing, Chairman of C&T Holdings commented that “There are global uncertainties or even threats over Sino-US relations, the impact of US interest rate hikes, and the consequences of curbs on capital outflows in Mainland China. Despite these uncertainties, the Group will continue to be alerted to the risk management and remain committed to devote more resources in its software and solutions business to enlarge its business coverage and continue to pursue for suitable acquisition opportunities in the region to accelerate its business growth.”
To conclude, on behalf of the Board and the Management, Mr. Ng expressed sincere thanks to all employees, shareholders, customers and business partners for their supports to the Group during the reporting period.
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More information is available at the 2016 results announcement published by the Group on March 17, 2017.
About C&T Holdings
Computer And Technologies Holdings Limited ("C&T Holdings" or the "Group", Stock Code: SEHK 00046) is a leading IT software and service provider in Asia involved in the design, delivery and operation of total IT solutions for the Government departments and corporate enterprises. Building on its successful track records, the Group provides comprehensive IT services from system and network integration, IT solutions implementation and software development, enterprise application software, on-line e-Government and e-Business platforms, as well as business process outsourcing services. For more information, please visit our website at www.ctil.com.
Ms. Emma Wong
Tel : (852) 2217 1511
Fax : (852) 2503 8400