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Third Quarter Unaudited Financial Statement for the Period Ended 31 March 2017

Financials Archive

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Income Statement

  3-Month
Period
Ended
31-Mar-17
$'000
3-Month
Period
Ended
31-Mar-16
$'000
Inc / (Dec)
%
Revenue 13,192 17,257 (23.6)
Cost of sales (11,287) (14,828) (23.9)
Gross Profit 1.905 2,429 (21.6)
Selling and marketing expenses (1,355) (1,284) 5.5
Administrative expenses (1,056) (899) 17.5
Other operating expenses (123) (84) 46.4
Total operating expenses (2,534) (2,267) 11.8
(Loss)/Profit from operations (629) 162 (488.3)
Other non-operating (expense)/income, net (609) (9) N.m
Finance costs (38) - N.m
(Loss)/Profit before tax (1,276) 153 (934.0)
Tax credit/(expense) 167 222 (24.8)
Net (loss)/profit for the period (1,109) 375 (395.7)


  9-Month
Period
Ended
31-Mar-17
$'000
9-Month
Period
Ended
31-Mar-16
$'000
Inc / (Dec)
%
Revenue 38,800 42.689 (9.1)
Cost of sales (32,008) (34,020) (5.9)
Gross Profit 6.792 8,669 (21.7)
Selling and marketing expenses (3,937) (3,271) 20.4
Administrative expenses (3,077) (3,045) 1.1
Other operating expenses (360) (559) (35.6)
Total operating expenses (7,374) (6,875) 7.3
(Loss)/Profit from operations (582) 1,794 (132.4)
Other non-operating (expense)/income, net (466) 485 (196.1)
Finance costs (108) - N.m
(Loss)/Profit before tax (1,156) 2,279 (150.7)
Tax credit/(expense) 665 (316) (310,4)
Net (loss)/profit for the period (491) 1,963 (125.0)

N.m - Percentage / Computation not meaningful

Balance Sheet

  31-Mar-17
$'000
30-Jun-16
$'000
Non-current assets    
Property, plant and equipment 19,981 19,080
Subsidiaries - -
Goodwill 7,173 6,725
Intangible assets 1,768 1,870
Deferred tax assets 2,004 1,438
  30,926 29,113
     
Current assets    
Inventories 18,959 16,318
Trade and other receivables 852 1,527
Prepayments 2,075 1,480
Current tax recoverable 255 -
Investment held-for-trading - 302
Cash and cash equivalents 10,567 16,350
  32,708 35,977
     
Total assets 63,634 65,090
     
Current liabilities    
Trade and other payables 14,459 13,412
Hire purchase payable - 20
Provision for warranty claims 1,010 1,181
Interest bearing loans and borrowings 380 752
Current tax payables 102 315
  15,951 15,680
Non-current liabilities    
Deferred tax liabilities 932 1,105
Interest bearing loans and borrowings 2,408 2,830
  3,340 3,935
     
Total liabilities 19,291 19,615
     
Capital and reserves    
Share capital 43,045 42,999
Share-based compensation reserve 359 323
Accumulated profits/(losses) 28,376 28,867
Foreign currency translation reserve (27,437) (26,714)
Total equity 44,343 45,475
     
Total equity and liabilities 63,634 65,090

Cash Flow

  3-Month
Period
Ended
31-Mar-17
$'000
3-Month
Period
Ended
31-Mar-16
$'000
Operating activities    
(Loss)/Profit after taxation (1,109) 375
Adjustments for:-    
Depreciation of property, plant and equipment 731 717
Amortisation of intangible assets 35 33
Gain on disposal of property, plant and equipment (4) -
Property, plant and equipment written off - -
Allowance of inventory obsolescence 12 21
Interest income (29) (6)
Provision for warranty claims 181 138
Fair valuation loss on quoted debt securities held-for-trading - 2
Equity-settled share based expense (32) 50
Tax (credit)/expense (167) (222)
Unrealised foreign exchange loss/(gain) 579 560
  197 1,668
     
Changes in working capital:    
Increase in inventories (3,324) (3,300)
(Increase)/Decrease in trade and other receivables (208) (458)
(Increase)/Decrease in prepayments (162) 62
(Decrease)/Increase in trade and other payables 2,342 (450)
Net cash(used in)/from operations (1,155) (2,478)
Net income tax paid (163) (182)
Warranty claims paid (232) (385)
Cash flows (used in)/from operating activities (1,550) (3,045)
     
Investing activities    
Interest received 29 3
Proceeds from matured debt securities held-for-trading - -
Acquisition of a subsidiary - -
Purchase of property, plant and equipment (1,473) (1,759)
Proceeds from previously restricted cash - -
Cash flows used in investing activities (1,444) (1,756)
     
Financing activities    
Repayment of hire purchase liability - -
Interest paid (36) -
Proceeds from issue of shares 46 -
Repayment ofloan (201) -
Cash flows used in financing activities (191) -
   
Net increase in cash and cash equivalents (3,185) (4,801)
Cash and cash equivalents at beginning of period 14,428 19,958
Effect of exchange rate changes on balances held in foreign currency (804) (605)
Cash and cash equivalents at end of period 10,439 14,552


  9-Month
Period
Ended
31-Mar-17
$'000
9-Month
Period
Ended
31-Mar-16
$'000
Operating activities    
(Loss)/Profit after taxation (491) 1,963
Adjustments for:-    
Depreciation of property, plant and equipment 1,988 2,011
Amortisation of intangible assets 102 189
Gain on disposal of property, plant and equipment (5) -
Property, plant and equipment written off 1 -
Allowance of inventory obsolescence 54 63
Interest income (61) (28)
Provision for warranty claims 566 544
Fair valuation loss on quoted debt securities held-for-trading 2 6
Equity-settled share based expense 36 108
Tax (credit)/expense (665) 316
Unrealised foreign exchange loss/(gain) 280 (346)
  1,807 4,826
     
Changes in working capital:    
Increase in inventories (3,245) (3,659)
(Increase)/Decrease in trade and other receivables 574 (1,677)
(Increase)/Decrease in prepayments (671) (172)
(Decrease)/Increase in trade and other payables 1,134 3,068
Net cash(used in)/from operations (401) 2,386
Net income tax paid (611) (214)
Warranty claims paid (671) (649)
Cash flows (used in)/from operating activities (1,683) 1,523
     
Investing activities    
Interest received 56 13
Proceeds from matured debt securities held-for-trading 300 -
Acquisition of a subsidiary - (3,985)
Purchase of property, plant and equipment (3,948) (4,732)
Proceeds from previously restricted cash - 4,800
Cash flows used in investing activities (3,592) (3,904)
     
Financing activities    
Repayment of hire purchase liability (20) (2)
Interest paid (106) -
Proceeds from issue of shares 46 -
Repayment of loan (795) -
Cash flows used in financing activities (875) (2)
   
Net increase in cash and cash equivalents (6,150) (2,383)
Cash and cash equivalents at beginning of period 16,214 16,754
Effect of exchange rate changes on balances held in foreign currency 375 181
Cash and cash equivalents at end of period 10,439 14,552