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First Quarter Unaudited Financial Statements for the Year Ended 30 September 2017

Financials Archive

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Income Statement

  3-Month
Period
Ended
30-Sep-17
$'000
3-Month
Period
Ended
30-Sep-16
$'000
Inc / (Dec)
%
Revenue 21,318 13,032 63.6
Cost of sales (17,652) (10,774) 63.8
Gross Profit 3,666 2,258 62.4
Selling and marketing expenses (1,844) (1,333) 38.3
Administrative expenses (1,055) (945) 11.6
Other operating expenses (136) (127) 7.1
Total operating expenses (3,035) (2,405) 26.2
Profit/(Loss) from operations 631 (147) (529.3)
Other non-operating (expense)/income, net (10) 215 (104.7)
Finance costs (48) (30) 60.0
Profit before tax 573 38 N.m
Tax credit 46 163 (71.8)
Net profit for the period 619 201 208.0

N.m - Percentage / Computation not meaningful

Statement of Financial Position

  30-Sep-17
$'000
30-Jun-17
$'000
Non-current assets    
Property, plant and equipment 21,967 21,073
Subsidiaries - -
Goodwill 7,148 7,109
Intangible assets 1,819 1,840
Deferred tax assets 1,203 1,203
  32,137 31,225
     
Current assets    
Inventories 18,382 16,172
Trade and other receivables 4,480 2,968
Prepayments 1,680 1,112
Current tax recoverable 145 144
Cash and cash equivalents 12,001 15,871
  36,688 36,267
     
Total assets 68,825 67,492
     
Current liabilities    
Trade and other payables 17,613 17,184
Provision for warranty claims 1,477 1,169
Interest bearing loans and borrowings 394 393
Current tax payables 246 252
  19,730 18,998
Non-current liabilities    
Deferred tax liabilities 888 936
Interest bearing loans and borrowings 2,253 2,343
  3,141 3,279
     
Total liabilities 22,871 22,277
     
Capital and reserves    
Share capital 43,045 43,045
Share-based compensation reserve 362 359
Accumulated profits/(losses) 30,007 29,388
Foreign currency translation reserve (27,460) (27,577)
Total equity 45,954 45,215
     
Total equity and liabilities 68,825 67,492

Cash Flow

  3-Month
Period
Ended
30-Sep-17
$'000
3-Month
Period
Ended
30-Sep-16
$'000
Operating activities    
Profit after taxation 619 201
Adjustments for:-    
Depreciation of property, plant and equipment 810 740
Amortisation of intangible assets 35 33
Property, plant and equipment written off - 1
Allowance of inventory obsolescence 29 22
Interest income (5) (22)
Interest expense 48 29
Provision for warranty claims 402 183
Fair valuation loss on quoted debt securities heldMfor-trading - 2
Equity-settled share based expense 3 34
Tax credit (46) (163)
Unrealised foreign exchange loss/(gain) 105 (476)
  2,000 584
     
Changes in working capital:    
Increase in inventories (2,295) (53)
(Increase)/Decrease in trade and other receivables (1,618) 1,014
Increase in prepayments (202) (421)
Increase in trade and other payables 312 2,855
Net cash (used in)/from operations (1,803) 3,979
Net income tax paid (15) (264)
Warranty claims paid (99) (219)
Cash flows (used in)/from operating activities (1,917) 3,496
     
Investing activities    
Interest received 4 12
Proceeds from matured debt securities held-for-trading - 300
Purchase of property, plant and equipment (1,648) (1,108)
Cash flows used in investing activities (1,644) (796)
     
Financing activities    
Repayment of hire purchase liability - (1)
Interest paid (46) (30)
Repayment of interest bearing loans and borrowings (90) (445)
Cash flows used in financing activities (136) (476)
   
Net increase in cash and cash equivalents (3,697) 2,224
Cash and cash equivalents at beginning of period 15,741 16,214
Effect of exchange rate changes on balances held in foreign currency (174) 627
Cash and cash equivalents at end of period 11,870 19,065