Email This Print This

Third Quarter Unaudited Financial Statement for the Period Ended 31 March 2018

Financials Archive

Get Adobe Reader Note: Files are in Adobe (PDF) format.
Please download the free Adobe Acrobat Reader to view these documents.

Income Statement

  3-Month
Period
Ended
31-Mar-18
$'000
3-Month
Period
Ended
31-Mar-17
$'000
Inc / (Dec)
%
Revenue 23,836 13,192 80.7
Cost of sales (18,831) (11,287) 66.8
Gross Profit 5,005 1,905 162.7
Selling and marketing expenses (1,876) (1,355) 38.5
Administrative expenses (1,125) (1,056) 6.5
Other operating expenses (242) (123) 96.7
Total operating expenses (3,243) (2534) 28.0
Profit/(Loss) from operations 1,762 (629) (380.1)
Other non-operating income(expense), net 226 (609) (137.1)
Finance costs (34) (38) (10.5)
Profit/(Loss) before tax 1,954 (1,276) (253.1)
Tax (expense)/credit (28) 167 (116.8)
Net profit/ (loss)for the period 1,926 (1,109) (273.7)
Allowance of inventory obsolescence (31) (12) 158.3
Depreciation of property, plant and equipment (866) (731) 18.5
Amortisation of intangible assets (33) (35) (5.7)
Foreign exchange gain/(loss), net 181 (694) (126.1)
Gain on disposal of property, plant and equipment - 4 (100.0)
Fair valuation loss on quoted debt securities held-for-trading - - N.m
Interest income included in other non-operating income 13 29 (55.2)
Property, plant and equipment written off (14) - N.m
Tax:
- current tax credit/(expense) (84) (65) 29.9
- deferred tax credit 56 232 (75.9)


  9-Month
Period
Ended
31-Mar-18
$'000
9-Month
Period
Ended
31-Mar-17
$'000
Inc / (Dec)
%
Revenue 65,501 38,800 68.8
Cost of sales (52,958) (32,008) 65.5
Gross Profit 12,543 6,792 84.7
Selling and marketing expenses (5,735) (3,937) 45.7
Administrative expenses (3,324) (3,077) 8.0
Other operating expenses (521) (360) 44.7
Total operating expenses (9,580) (7,374) 29.9
Profit/(Loss) from operations 2,963 (582) (609.1)
Other non-operating income/(expense), net 357 (466) (176.6)
Finance costs (117) (108) 8.3
Profit/(Loss) before tax 3,203 (1,156) (377.1)
Tax (expense)/credit 19 665 (97.1)
Net profit/(loss) for the period 3.222 (491) (756.2)
Allowance of inventory obsolescence (128) (54) 137.0
Depreciation of property, plant and equipment (2,519) (1,988) 26.7
Amortisation of intangible assets (101) (102) (1.0)
Foreign exchange gain/(loss), net 233 (684) (134.1)
Gain on disposal of property, plant and equipment - 5 (100.0)
Fair valuation loss on quoted debt securities held-for-trading - (2) (100.0)
Interest income included in other non-operating income 30 61 (50.8)
Property, plant and equipment written off (68) (1) N.m
Tax:
- current tax expense (153) (134) 14.5
- deferred tax credit 172 799 (78.5)

N.m - Percentage / Computation not meaningful

Balance Sheet

  31-Mar-18
$'000
30-Jun-17
$'000
Non-current assets    
Property, plant and equipment 24,374 21,073
Subsidiaries - -
Goodwill 6,732 7,109
Intangible assets 1,640 1,840
Deferred tax assets 1,229 1,203
  33,975 31,225
     
Current assets    
Inventories 18,369 16,172
Trade and other receivables 6,407 2,968
Prepayments 1,894 1,112
Current tax recoverable - 144
Cash and cash equivalents 11,317 15,871
  37,987 36,267
     
Total assets 71,962 67,492
     
Current liabilities    
Trade and other payables 16,958 17,184
Provision for warranty claims 1,991 1,169
Interest bearing loans and borrowings 416 393
Current tax payables 287 252
  19,652 18,998
Non-current liabilities    
Deferred tax liabilities 714 936
Interest bearing loans and borrowings 2,168 2,343
  2,882 3,279
     
Total liabilities 22,534 22,277
     
Capital and reserves    
Share capital 43,045 43,045
Share-based compensation reserve 367 359
Accumulated profits/(losses) 32,610 29,388
Foreign currency translation reserve (26,594) (27,577)
Total equity 49,428 45,215
     
Total equity and liabilities 71,962 67,492

Cash Flow

  3-Month
Period
Ended
31-Mar-18
$'000
3-Month
Period
Ended
31-Mar-17
$'000
Operating activities    
Profit/(Loss) after taxation 1,926 (1,109)
Adjustments for:-    
Depreciation of property, plant and equipment 866 731
Amortisation of intangible assets 33 35
Gain on disposal of property, plant and equipment - (4)
Property, plant and equipment written off 14 -
Allowance of inventory obsolescence 31 12
Interest income (13) (29)
Interest expense 34 38
Provision for warranty claims 354 181
Fair valuation loss on quoted debt securities held-for-trading - -
Equity-settled share based expense 3 (32)
Tax expense/(credit) 28 (167)
Unrealised foreign exchange loss 28 541
  3,304 197
     
Changes in working capital:    
Decreae/(Increase) in inventories 2,902 (3,324)
(Increase)/Decrease in trade and other receivables (2,001) (208)
(Increase)/Decrease in prepayments (427) (162)
(Decrease)/Increase in trade and other payables (587) 2,342
Net cash from/(used in) operations 3,191 (1,155)
Net income tax receoved/(paid) 100 (163)
Warranty claims paid (221) (232)
Cash flows from/(used in) operating activities 3,070 (1,550)
     
Investing activities    
Interest received 13 29
Proceeds from matured debt securities held-for-trading - -
Deposit paid for proposed acquisition of a company (131) -
Purchase of property, plant and equipment (1,526) (1,473)
Cash flows used in investing activities (1,644) (1,444)
     
Financing activities    
Repayment of hire purchase liability - -
Interest paid (34) (36)
Proceeds from issue of shares - 46
Repayment of interest bearing loans and borrowings (100) (92)
Cash flows used in financing activities (134) (82)
   
Net increase/(decrease) in cash and cash equivalents 1,292 (3,076)
Cash and cash equivalents at beginning of period 9,865 14,428
Effect of exchange rate changes on balances held in foreign currency 28 (913)
Cash and cash equivalents at end of period 11,185 10,439


  9-Month
Period
Ended
31-Mar-18
$'000
9-Month
Period
Ended
31-Mar-17
$'000
Operating activities    
Profit/(Loss) after taxation 3,222 (491)
Adjustments for:-    
Depreciation of property, plant and equipment 2,519 1,988
Amortisation of intangible assets 101 102
Gain on disposal of property, plant and equipment - (5)
Property, plant and equipment written off 68 1
Allowance of inventory obsolescence 128 54
Interest income (30) (61)
Interest expense 117 108
Provision for warranty claims 1,219 566
Fair valuation loss on quoted debt securities held-for-trading - 2
Equity-settled share based expense 8 36
Tax expense/(credit) (19) (665)
Unrealised foreign exchange loss 265 172
  7,598 1,807
     
Changes in working capital:    
Decreae/(Increase) in inventories (1,620) (3,245)
(Increase)/Decrease in trade and other receivables (3,583) 574
(Increase)/Decrease in prepayments (602) (671)
(Decrease)/Increase in trade and other payables (50) 1,134
Net cash from/(used in) operations 1,743 (401)
Net income tax receoved/(paid) 37 (611)
Warranty claims paid (490) (671)
Cash flows from/(used in) operating activities 1,290 (1,683)
     
Investing activities    
Interest received 30 56
Proceeds from matured debt securities held-for-trading - 300
Deposit paid for proposed acquisition of a company (131) -
Purchase of property, plant and equipment (4,832) (3,948)
Cash flows used in investing activities (4,933) (3,592)
     
Financing activities    
Repayment of hire purchase liability - (20)
Interest paid (114) (106)
Proceeds from issue of shares - 46
Repayment of interest bearing loans and borrowings (309) (795)
Cash flows used in financing activities (423) (875)
   
Net increase/(decrease) in cash and cash equivalents (4,066) (6,150)
Cash and cash equivalents at beginning of period 15,741 16,214
Effect of exchange rate changes on balances held in foreign currency (490) 375
Cash and cash equivalents at end of period 11,185 10,439