This printed article is located at http://grandbanks.listedcompany.com/financials.html

Financials

Fourth Quarter And Full Year Unaudited Financial Statements for the Period Ended 30 June 2017

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
30-Jun-17
$'000
3-Month
Period
Ended
30-Jun-16
$'000
Inc / (Dec)
%
Revenue 19,901 15,978 24.6
Cost of sales (16,165) (14,450) I 1.9
Gross Profit 3,736 1,528 144.5
Selling and marketing expenses (1,456) (1,277) 14.0
Administrative expenses (835) (817) 2.2
Other operating expenses (216) (69) 213.0
Total operating expenses (2,507) (2,163) 15.9
Profit/(Loss) from operations 1,229 (635) (293.5)
Other non-operating income/(expense), net 894 (376) (337.8)
Finance costs (37) - N.m
Profit/(Loss) before tax 2,086 (1,011) (306.3)
Tax (expense)/credit (1,074) 1,018 (205.5)
Net profit for the period/year 1,012 7 N.m


  12-Month
Period
Ended
30-Jun-17
$'000
12-Month
Period
Ended
30-Jun-16
$'000
Inc / (Dec)
%
Revenue 58,701 58,667 0.1
Cost of sales (48,173) (48,470) (0.6)
Gross Profit 10,528 10,197 3.2
Selling and marketing expenses (5,393) (4,548) 18.6
Administrative expenses (3,912) (3,862) 1.3
Other operating expenses (576) (628) (8.3)
Total operating expenses (9,881) (9,038) 9.3
Profit/(Loss) from operations 647 1,159 (44.2)
Other non-operating income/(expense), net 428 109 292.7
Finance costs (145) - N.m
Profit/(Loss) before tax 930 1,268 (26.7)
Tax (expense)/credit (409) 702 (158.3)
Net profit for the period/year 521 1,970 (73.6)

N.m - Percentage / Computation not meaningful

Balance Sheet

  30-Jun-17
$'000
30-Jun-16
$'000
Non-current assets    
Property, plant and equipment 21,073 19,080
Subsidiaries - -
Goodwill 7,109 6,725
Intangible assets 1,840 1,870
Deferred tax assets 1,203 1,438
Loan receivables - -
  31,225 29,113
     
Current assets    
Inventories 16,172 12,464
Trade and other receivables 2,968 4,712
Prepayments 1,112 1,480
Current tax recoverable 144 -
Investment held-for-trading - 302
Cash and cash equivalents 15,871 16,350
  36,267 35,308
     
Total assets 67,492 64,421
     
Current liabilities    
Trade and other payables 17,184 12,743
Hire purchase payable - 20
Provision for warranty claims 1,169 1,181
Interest bearing loans and borrowings 393 752
Current tax payables 252 315
  18,998 15,011
Non-current liabilities    
Deferred tax liabilities 936 1,105
Interest bearing loans and borrowings 2,343 2,830
  3,279 3,935
     
Total liabilities 22,277 18,946
     
Capital and reserves    
Share capital 43,045 42,999
Share-based compensation reserve 359 323
Accumulated profits/(losses) 29,388 28,867
Foreign currency translation reserve (27,577) (26,714)
Total equity 45,215 45,475
     
Total equity and liabilities 67,492 64,421

Cash Flow

  3-Month
Period
Ended
30-Jun-17
$'000
3-Month
Period
Ended
30-Jun-16
$'000
Operating activities    
Profit after taxation 1,012 7
Adjustments for:-    
Depreciation of property, plant and equipment 926 714
Amortisation of intangible assets 34 30
Property, plant and equipment written off - 4
Reversal of impainnent loss on a property - (222)
Allowance of inventory obsolescence 90 954
Interest income ( 14) (49)
Interest expense 37 -
Provision for warranty claims 380 286
Fair valuation loss on quoted debt securities heldMfor-trading - 2
Equity-settled share based expense - 25
Tax expense/(credit) 1,074 (1,018)
Unrealised foreign exchange gain (584) (65)
  2,955 668
     
Changes in working capital:    
(Increase)/Decrease in inventories (1,134) 2,949
Decrease/(Increase) in trade and other receivables 1,112 662
Decreasel(Increase) in prepayments 988 285
Increase in trade and other payables 3,040 940
Net cash from operations 6,961 5,504
Net income tax paid (45) (351)
Warranty claims paid (235) (221)
Cash flows from operating activities 6,681 4,932
     
Investing activities    
Interest received 12 46
Proceeds from matured debt securities held-for-trading - -
Acquisition of a subsidiary - -
Purchase of property, plant and equipment (1,624) (6,493)
Proceeds from previously restricted cash - -
Cash flows used in investing activities (1,612) (6,447)
     
Financing activities    
Repayment of hire purchase liability - (5)
Interest paid (35) -
Proceeds from issue of shares - -
(Repayment ot)lProceeds from interest bearing loans and borrowings (96) 3,600
Cash flows (used in)/from financing activities (131 ) 3,595
   
Net increase in cash and cash equivalents 4,938 2,080
Cash and cash equivalents at beginning of period 10,439 14,552
Effect of exchange rate changes on balances held in foreign currency 364 (418)
Cash and cash equivalents at end of period 15,741 16,214


  12-Month
Period
Ended
30-Jun-17
$'000
12-Month
Period
Ended
30-Jun-16
$'000
Operating activities    
Profit after taxation 521 1,970
Adjustments for:-    
Depreciation of property, plant and equipment 2,914 2,725
Amortisation of intangible assets 136 219
Property, plant and equipment written off 1 4
Reversal of impainnent loss on a property - (222)
Allowance of inventory obsolescence 144 802
Interest income (75) (77)
Interest expense 145 -
Provision for warranty claims 946 830
Fair valuation loss on quoted debt securities heldMfor-trading 2 8
Equity-settled share based expense 36 133
Tax expense/(credit) 409 (702)
Unrealised foreign exchange gain (304) (348)
  4,875 5,342
     
Changes in working capital:    
(Increase)/Decrease in inventories (4,379) (558)
Decrease/(Increase) in trade and other receivables 1,686 (1,015)
Decreasel(Increase) in prepayments 317 113
Increase in trade and other payables 4,174 4,008
Net cash from operations 6,673 7,890
Net income tax paid (656) (565)
Warranty claims paid (906) (870)
Cash flows from operating activities 5,111 6,455
     
Investing activities    
Interest received 68 59
Proceeds from matured debt securities held-for-trading 300 -
Acquisition of a subsidiary - (3,985)
Purchase of property, plant and equipment (5,572) (11,225)
Proceeds from previously restricted cash - 4,800
Cash flows used in investing activities (5,204) (10,351)
     
Financing activities    
Repayment of hire purchase liability (20) (7)
Interest paid (141) -
Proceeds from issue of shares 46 -
(Repayment ot)lProceeds from interest bearing loans and borrowings (698) 3,600
Cash flows (used in)/from financing activities (813) 3,593
   
Net increase in cash and cash equivalents (906) (303)
Cash and cash equivalents at beginning of period 16,214 16,754
Effect of exchange rate changes on balances held in foreign currency 433 (237)
Cash and cash equivalents at end of period 15,741 16,214
Please read our General Disclaimer & Warning carefully.Use of this Website constitutes acceptance of the Terms of Website Use.
Copyright © 2017. ListedCompany.com. All Rights Reserved.