FULL YEAR FINANCIAL STATEMENT ANNOUNCEMENT FOR THE YEAR ENDED 30 JUNE

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FULL YEAR FINANCIAL STATEMENT ANNOUNCEMENT FOR THE YEAR ENDED 30 JUNE (a) An income statement (for the ) together with a comparative statement for the corresponding period of the immediately preceding
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FULL YEAR FINANCIAL STATEMENT ANNOUNCEMENT FOR THE YEAR ENDED 30 JUNE (a) An income statement (for the ) together with a comparative statement for the corresponding period of the immediately preceding financial year. Fourth Quarter Ended Increase/ Full Year Ended Increase/ 30/06/ /06/2014 (Decrease) 30/06/ /06/2014 (Decrease) S$ 000 S$ 000 % S$ 000 S$ 000 % Revenue 254, ,894 (48) 1,159,921 1,251,350 (7) Cost of sales (149,570) (344,875) (57) (762,218) (938,913) (19) Gross profit 105, ,019 (29) 397, , Other income 81, ,025 (37) 102, ,481 (59) Administrative expenses (21,176) (25,090) (16) (107,330) (78,540) 37 Other expenses (6,914) (6,483) 7 (10,308) (9,413) 10 Finance costs (14,659) (18,649) (21) (64,570) (86,229) (25) Share of (loss)/profit of associates and joint ventures (net of tax) (40) 14,354 N/M ,277 (96) Profit before tax 143, ,176 (41) 318, ,013 (22) Tax expense (17,858) (29,888) (40) (74,848) (77,218) (3) Profit for the period/year 125, ,288 (41) 243, ,795 (27) Profit attributable to: Equity holders of the Company 107, ,110 (42) 226, ,225 (26) Non-controlling interests 18,276 25,178 (27) 17,461 28,570 (39) 125, ,288 (41) 243, ,795 (27) N/M : Not meaningful. Page 1 1(a)(i) Breakdown and explanatory notes to the income statement:- Fourth Quarter Ended Increase/ Full Year Ended Increase/ 30/06/ /06/2014 (Decrease) 30/06/ /06/2014 (Decrease) S$ 000 S$ 000 % S$ 000 S$ 000 % Dividend income from equity securities N/M Interest income 1,933 2,949 (34) 9,774 12,133 (19) Depreciation of property, plant and equipment (2,333) (2,135) 9 (9,061) (8,451) 7 Gain on disposal of property, plant and equipment (40) (72) Net fair value gain on derivative financial instruments 10, N/M 2,194 8,298 (74) Net foreign exchange (loss)/gain (9,193) (2,013) N/M 5,180 (2,286) N/M Net fair value gain from investment properties 72, ,569 (41) 72, ,569 (41) Net (loss)/gain on disposal of interests in subsidiaries and associates (2,507) - N/M (2,507) 98,935 N/M Loss on disposal of equity securities (7) (686) (99) (78) (686) (89) N/M : Not meaningful. Page 2 1(b)(i) A statement of financial position (for the issuer and ), together with a comparative statement as at the end of the immediately preceding financial year. As At Company As At 30/06/ /06/ /06/ /06/2014 S$ 000 S$ 000 S$ 000 S$ 000 Non-current assets Property, plant and equipment 435, , Investment properties 2,486,915 2,305, Subsidiaries - - 2,452,382 2,581,664 Associates and joint ventures 461, , Other receivables, including derivatives 228 2, Other investments 673 1, Deferred tax assets 41,783 32, ,426,366 3,243,969 2,452,382 2,581,664 Current assets Inventories 4,711,235 4,287, Trade and other receivables, including derivatives 561, , Cash and cash equivalents 663, , Assets held for sale 150, ,085,392 5,475, ,061 Total assets 9,511,758 8,719,459 2,452,602 2,582,725 Equity Share capital 1,926,053 1,926,053 1,926,053 1,926,053 Reserves 1,010, ,738 31,897 44,467 Equity attributable to ordinary equity holders of the Company 2,936,448 2,620,791 1,957,950 1,970,520 Perpetual securities 200, , ,136,743 2,820,586 1,957,950 1,970,520 Non-controlling interests 159, , Total equity 3,296,245 2,973,531 1,957,950 1,970,520 Non-current liabilities Other payables, including derivatives 168, , , ,498 Loans and borrowings 3,672,994 2,768, Deferred tax liabilities 58,963 56, ,900,455 2,971, , ,498 Current liabilities Trade and other payables, including derivatives 526, , ,007 Loans and borrowings 1,607,015 2,298,580-77,700 Current tax liabilities 82,478 47, Liabilities held for sale 98, ,315,058 2,774, ,707 Total liabilities 6,215,513 5,745, , ,205 Total equity and liabilities 9,511,758 8,719,459 2,452,602 2,582,725 Page 3 1(b)(ii) Aggregate amount of s borrowings and debt securities. Amount repayable in one year or less, or on demand As at 30/06/2015 (S$ 000) As at 30/06/2014 (S$ 000) Secured Unsecured Secured Unsecured 904, , ,877 1,416,703 Amount repayable after one year As at 30/06/2015 (S$ 000) As at 30/06/2014 (S$ 000) Secured Unsecured Secured Unsecured 2,032,846 1,640,148 1,672,494 1,095,700 Details of any collateral The s assets pledged/mortgaged to secure loan facilities granted to the are as follows:- At carrying amounts:- As At 30/06/ /06/2014 S$ 000 S$ 000 Property, plant and equipment 305, ,697 Investment properties 1,898,924 1,729,901 Inventories 2,446,602 2,064,116 Page 4 1(c) A cash flow statement (for the ), together with a comparative statement for the corresponding period of the immediately preceding financial year. Fourth Quarter Ended Full Year Ended 30/06/ /06/ /06/ /06/2014 S$ 000 S$ 000 S$ 000 S$ 000 Cash flows from operating activities Profit before tax 143, , , ,013 Adjustments for:- Amortisation of transaction costs on loans and borrowings 1,022 1,366 4,721 4,980 Depreciation of property, plant and equipment 2,333 2,135 9,061 8,451 Dividend income from equity securities - - (158) - Gain on disposal of property, plant and equipment (76) (126) (116) (411) Net fair value gain on derivative financial instruments (10,374) (906) (2,194) (8,298) Net fair value gain from investment properties (72,499) (122,569) (72,499) (122,569) Finance costs 14,659 18,649 64,570 86,229 Interest income (1,933) (2,949) (9,774) (12,133) Allowance/(Writeback of allowance) for doubtful receivables 6 (5) 8 (46) Loss/(Gain) on disposal of interests in subsidiaries and associates 2,507-2,507 (98,935) Share of loss/(profit) of associates and joint ventures (net of tax) 40 (14,354) (805) (19,277) Loss on disposal of equity securities (Writeback of share-based payments)/ Share-based payments (328) 22 (259) 93 Unrealised exchange gain (26,177) - (26,177) - 52, , , ,783 Changes in:- Inventories 126, ,315 (213,464) 90,251 Trade and other receivables (41,406) (227,248) 10,533 (97,473) Trade and other payables (25,013) 25,266 62,751 (12,207) Balances with holding companies and related corporations 382 (9,405) (302) (5,041) Cash generated from operating activities 113,356 80, , ,313 Tax paid (36,532) (8,962) (50,219) (67,053) Net cash from operating activities 76,824 71,091 96, ,260 Page 5 Fourth Quarter Ended Full Year Ended 30/06/ /06/ /06/ /06/2014 S$ 000 S$ 000 S$ 000 S$ 000 Cash flows from investing activities Additions to investment properties (78,824) (23,562) (202,636) (75,817) Additions to property, plant and equipment (14,152) (4,277) (28,858) (13,448) Acquisition of a subsidiary, net of cash acquired (11,560) - Balances with associates and joint ventures (11,540) (70) (24,053) (3,197) Dividends received from associates and joint ventures 1, ,775 12,811 Dividends received from equity securities Capital contributions in joint venture - (10,010) - (10,010) Interest received 6,012 1,293 12,776 9,205 Proceeds from disposal of interests in associates - 4, ,000 Proceeds from disposal of interests in subsidiaries 19,503-19, ,708 Proceeds from disposal of equity securities - 1, ,003 Proceeds from disposal of property, plant and equipment Net cash from investing activities (77,210) (30,009) (230,670) 174,721 Cash flows from financing activities Acquisition of non-controlling interests in a subsidiary (1,409) - (1,409) - Distribution payment for perpetual securities (4,661) (4,661) (9,400) (9,400) Dividends paid - - (55,488) (55,488) Dividends paid to non-controlling interests - - (1,678) (1,256) Repayment of amounts due to non-controlling interests (68) - (68) - Fixed deposits pledged - (665) 119, ,636 Interest paid (46,378) (48,461) (176,774) (192,775) Proceeds from loans and borrowings 1,008, ,379 2,873,708 1,129,899 Proceeds from loans from non-controlling interests of subsidiaries 5,200 2,380 17,840 7,550 Repayment of loans and borrowings (1,007,048) (386,961) (2,611,564) (1,423,874) Net cash from financing activities (45,900) (88,989) 154,571 (309,708) Net (decrease)/increase in cash and cash equivalents (46,286) (47,907) 20,824 22,273 Cash and cash equivalents at beginning of the period/year 439, , , ,125 Exchange differences on translation of balances held in foreign currencies 18,400 2,280 19,853 (4,923) Cash and cash equivalents at end of the period/year 411, , , ,475 For the purpose of the consolidated statement of cash flows, cash and cash equivalents are presented net of bank overdrafts repayable on demand, and exclude an amount of $250.3 million pledged to a financial institution for loans in China as at 30 June For the year ended 30 June 2015, the s operating activities generated net cash of $96.9 million, a drop of 38% from previous financial year due to higher working capital requirements. Net cash used in investing activities was mainly for additions to investment properties under development. For financing activities, cash was from loans and borrowings. Page 6 1(d) Consolidated Statement of Comprehensive Income Fourth Quarter Ended Increase/ Full Year Ended Increase/ 30/06/ /06/2014 (Decrease) 30/06/ /06/2014 (Decrease) S$ 000 S$ 000 % S$ 000 S$ 000 % Profit for the period/year 125, ,288 (41) 243, ,795 (27) Other comprehensive income Items that are or may be reclassified subsequently to profit or loss: Translation differences relating to financial statements of foreign subsidiaries, associates and joint ventures (78,477) (46,729) ,461 (67,557) N/M Translation reserve of subsidiaries reclassified to profit or loss upon disposal (8,033) - N/M (8,033) (1,976) N/M Net change in fair value of available-for-sale securities (316) 593 N/M (835) 1,072 N/M Translation reserve of an associate reclassified to profit or loss upon deemed disposal (2,730) - N/M (2,730) - N/M Net change in fair value of available-for-sale securities reclassified to profit or loss upon disposal (2) 760 (100) (90) Other comprehensive income for the period/ year, net of tax (89,558) (45,376) ,941 (67,701) N/M Total comprehensive income for the period/ year, net of tax 36, ,912 (78) 387, , Attributable to: Equity holders of the Company 24, ,043 (82) 381, , Non-controlling interests 11,509 25,869 (56) 6,533 25,651 (75) Total comprehensive income for the period/year, net of tax 36, ,912 (78) 387, , N/M : Not meaningful. Page 7 1(e)(i) A statement (for the issuer and ) showing either (i) all changes in equity or (ii) changes in equity other than those arising from capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the immediately preceding financial year. Statement of Changes in Equity for the Full Year ended 30 June 2015 and 30 June 2014 Attributable to ordinary equity holders of the Company Total Non- Share Capital Other Reserves* Accumulated Profits Ordinary Equity Perpetual Securities Total Controlling Interests Total Equity S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 At 1 July ,926,053 (227,064) 921,802 2,620, ,795 2,820, ,945 2,973,531 Total comprehensive income for the year Profit for the year , , ,352 17, ,813 Other comprehensive income Translation differences relating to financial statements of foreign subsidiaries, associates and joint ventures - 166, , ,199 (10,738) 155,461 Translation reserve of a subsidiary reclassified to profit or loss upon disposal - (8,033) - (8,033) - (8,033) - (8,033) Translation reserve of an associate reclassified to profit or loss upon deemed disposal - (2,730) - (2,730) - (2,730) - (2,730) Net change in fair value of available-for-sale securities - (620) - (620) - (620) (215) (835) Net change in fair value of available-for-sale securities reclassified to profit or loss upon disposal Total other comprehensive income, net of tax - 154, , ,869 (10,928) 143,941 Total comprehensive income for the year, net of tax - 154, , , ,221 6, ,754 Transactions with equity holders, recorded directly in equity Contributions by and distributions to equity holders Accrued distribution for perpetual securities - - (9,900) (9,900) 9, Distribution payment for perpetual securities (9,400) (9,400) - (9,400) Writeback of share-based payments - (176) - (176) - (176) (83) (259) Dividends - - (55,488) (55,488) - (55,488) (2,386) (57,874) Total contributions by and distributions to equity holders - (176) (65,388) (65,564) 500 (65,064) (2,469) (67,533) Changes in ownership interests in subsidiaries Acquisition of a subsidiary with non-controlling interests ,802 7,802 Acquisition of non-controlling interests without a change in control (1,409) (1,409) Disposal of subsidiaries with non-controlling interests (3,900) (3,900) Total changes in ownership interests in subsidiaries ,493 2,493 Total transactions with equity holders - (176) (65,388) (65,564) 500 (65,064) 24 (65,040) At 30 June ,926,053 (72,371) 1,082,766 2,936, ,295 3,136, ,502 3,296,245 * Include reserve for own shares, share option reserve, capital reserve, translation reserve, revaluation reserve, fair value reserve and merger reserve. Page 8 Attributable to ordinary equity holders of the Company Total Non- Share Capital Other Reserves* Accumulated Profits Ordinary Equity Perpetual Securities Total Controlling Interests Total Equity S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 At 1 July ,926,053 (162,345) 682,854 2,446, ,406 2,645, ,133 2,775,101 Total comprehensive income for the year Profit for the year , , ,225 28, ,795 Other comprehensive income Translation differences relating to financial statements of foreign subsidiaries, associates and joint ventures - (64,039) - (64,039) - (64,039) (3,518) (67,557) Translation reserve of a subsidiary reclassified to profit or loss upon disposal - (1,976) - (1,976) - (1,976) - (1,976) Net change in fair value of available-for-sale securities ,072 Net change in fair value of available-for-sale securities reclassified to profit or loss upon disposal Total other comprehensive income, net of tax - (64,782) - (64,782) - (64,782) (2,919) (67,701) Total comprehensive income for the year, net of tax - (64,782) 304, , ,443 25, ,094 Transactions with equity holders, recorded directly in equity Contributions by and distributions to equity holders Accrued distribution for perpetual securities - - (9,789) (9,789) 9, Distribution payment for perpetual securities (9,400) (9,400) - (9,400) Share-based payments Dividends - - (55,488) (55,488) - (55,488) (1,256) (56,744) Total contributions by and distributions to equity holders - 63 (65,277) (65,214) 389 (64,825) (1,226) (66,051) Changes in ownership interests in subsidiaries Disposal of a subsidiary with non-controlling interests (613) (613) Total changes in ownership interests in subsidiaries (613) (613) Total transactions with equity holders - 63 (65,277) (65,214) 389 (64,825) (1,839) (66,664) At 30 June ,926,053 (227,064) 921,802 2,620, ,795 2,820, ,945 2,973,531 * Include reserve for own shares, share option reserve, capital reserve, translation reserve, revaluation reserve, fair value reserve and merger reserve. Page 9 Share Other Accumulated Total Capital Reserves* Profits Equity S$ 000 S$ 000 S$ 000 S$ 000 Company At 1 July ,926,053 (162,047) 206,514 1,970,520 Profit for the year ,918 42,918 Total comprehensive income for the year ,918 42,918 Transactions with equity holders, recorded directly in equity Contributions by and distributions to equity holders Dividends - - (55,488) (55,488) Total contributions by and distributions to equity holders - - (55,488) (55,488) Total transactions with equity holders - - (55,488) (55,488) At 30 June ,926,053 (162,047) 193,944 1,957,950 At 1 July ,926,053 (162,047) 253,421 2,017,427 Profit for the year - - 8,581 8,581 Total comprehensive income for the year - - 8,581 8,581 Transactions with equity holders, recorded directly in equity Contributions by and distributions to equity holders Dividends - - (55,488) (55,488) Total contributions by and distributions to equity holders - - (55,488) (55,488) Total transactions with equity holders - - (55,488) (55,488) At 30 June ,926,053 (162,047) 206,514 1,970,520 *Include reserve for own shares and capital reserve. Page 10 Statement of Changes in Equity for the Fourth Quarter ended 30 June 2015 and 30 June 2014 Attributable to ordinary equity holders of the Company Total Non- Share Capital Other Reserves* Accumulated Profits Ordinary Equity Perpetual Securities Total Controlling Interests Total Equity S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 At 1 April ,926,053 10, ,943 2,914, ,474 3,117, ,115 3,271,228 Total comprehensive income for the period Profit for the period , , ,305 18, ,581 Other comprehensive income Translation differences relating to financial statements of foreign subsidiaries, associates and joint ventures - (71,782) - (71,782) - (71,782) (6,695) (78,477) Translation reserve of a subsidiary reclassified to profit or loss upon disposal - (8,033) - (8,033) - (8,033) - (8,033) Translation reserve of an associate reclassified to profit or loss upon deemed disposal - (2,730) - (2,730) - (2,730) - (2,730) Net change in fair value of available-for-sale securities - (245) - (245) - (245) (71) (316) Net change in fair value of available-for-sale securities reclassified to profit or loss upon disposal - (1) - (1) - (1) (1) (2) Total other comprehensive income, net of tax - (82,791) - (82,791) - (82,791) (6,767) (89,558) Total comprehensive income for the period, net of tax - (82,791) 107,305 24,514-24,514 11,509 36,023 Transactions with equity holders, recorded directly in equity Contributions by and distributions to equity holders Accrued distribution for perpetual securities - - (2,482) (2,482) 2, Distribution for perpetual securities (4,661) (4,661) - (4,661) Writeback of share-based payments - (223) - (223) - (223) (105) (328) Dividends (708) (708) Total contributions by and distributions to equity holders - (223) (2,482) (2,705) (2,179) (4,884) (813) (5,697) Changes in ownership interests in subsidiaries Acquisition of a subsidiary with non-controlling interests ,802 7,802 Acquisition of non-controlling interests without a change in control (1,409) (1,409) Disposal of subsidiaries with non-controlling interests (3,900) (3,900) Total changes in ownership interests in subsidiaries (5,309) (5,309) Total contributions by and distributions to equity holders - (223) (2,482) (2,705) (2,179) (4,884) (6,122) (11,006) At 30 June ,926,053 (72,371) 1,082,766 2,936, ,295 3,136, ,502 3,296,245 * Include reserve for own shares, share option reserve, capital reserve, translation reserve, revaluation reserve, fair value reserve and merger reserve. Page 11 Attributable to ordinary equity holders of the Company Total Non- Share Capital Other Reserves* Accumulated Profits Ordinary Equity Perpetual Securities Total Controlling Interests Total Equity S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 At 1 April ,926,053 (181,011) 738,168 2,483, ,980 2,685, ,068 2,812,258 Total comprehensive income for the period Profit for the period , , ,110 25, ,288 Other comprehensive income Translation differences relating to financial statements of foreign subsidiaries, associates and joint ventures - (46,988) - (46,988) - (46,988) 259 (46,729) Net change in fair value of available-for-sale securities Net change in fair value of available-for-sale securities reclassified to profit or loss upon disposal Total other comprehensive income, net of tax - (46,067) - (46,067) - (46,067) 691 (45,376) Total comprehensive income for the period, net of tax - (46,067) 186, , ,043 25, ,912 Transactions with equity holders, recorded directly in equity Contributions by and distributions to equity holders Accrued distribution for perpetual securities - - (2,476) (2,476) 2, Distribution payment for perpetual securities (4,661) (4,661) - (4,661) Share-based payments Total contributions by and distributions to equity holders - 14 (2,476) (2,462) (2,185) (4,647) 8 (4,639) Total transactions with equity holders - 14 (2,476) (2,462) (2,185) (4,647) 8 (4,639) At 30 June ,926,053 (227,064) 921,802 2,620, ,795 2,820, ,945 2,973,531 * Include reserve for own shares, share option reserve, capital reserve, translation reserve, revaluatio
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