Unaudited Financial Statements And Dividend Announcement For The First Half Year Ended 31 December 2024
Financials Archive
Note: Files are in Adobe (PDF) format.
Please download the free Adobe Acrobat Reader to view these documents.
Consolidated income statement (Unaudited)
| Group 6-Month period ended 31 December |
|||
|---|---|---|---|
|
2024 $'000 |
2023 $'000 |
Change % |
|
| Revenue | 67,200 | 65,007 | 3.4 |
| Cost of sales | (45,457) | (41,383) | 9.8 |
| Gross Profit | 21,743 | 23,624 | (8.0) |
| Other income/(losses) | 719 | (443) | >100 |
| Selling and marketing expenses | (5,417) | (8,365) | (35.2) |
| Administrative expenses | (4,656) | (3,736) | 24.6 |
| Other operating expenses | (688) | (553) | 24.4 |
| Total operating expenses | (10,761) | (12,654) | (15.0) |
| Profit from operations | 11,701 | 10,527 | 11.2 |
| Finance costs | (303) | (59) | >100 |
| Profit before tax | 11,398 | 10,468 | 8.9 |
| Tax expense | (3,835) | (3,540) | 8.3 |
| Profit for the period attributable to owners of the Company | 7,563 | 6,928 | 9.2 |
Consolidated statement of comprehensive income (Unaudited)
| Group 6-Month period ended 31 December |
|||
|---|---|---|---|
|
2024 $'000 |
2023 $'000 |
Inc/(Dec) % |
|
| Profit for the period | 7,563 | 6,928 | 9.2 |
| Other comprehensive loss Items that may be reclassified subsequently to profit or loss | |||
| Translation differences relating to financial statements of foreign subsidiaries | 1,762 | (872) | (302.1) |
| Other comprehensive loss for the period, net of income tax | 1,762 | (872) | (302.1) |
| Total comprehensive income for the period attributable to owners of the Company | 9,325 | 6,056 | 54.0 |
Consolidated statements of financial position (Unaudited)
| Group | ||
|---|---|---|
| 31-Dec-24 $'000 |
30-Jun-24 $'000 |
|
| Non-current assets | ||
| Property, plant and equipment | 40,116 | 34,243 |
| Right-of-use assets | 5,877 | 5,839 |
| Subsidiaries | - | - |
| Intangible assets | 6,314 | 6,783 |
| Deferred tax assets | 1,959 | 2,297 |
| 54,266 | 49,162 | |
| Current assets | ||
| Inventories | 35,771 | 29,900 |
| Contract assets | 5,820 | 10,041 |
| Trade and other receivables | 9,921 | 11,720 |
| Prepayments | 2,869 | 1,521 |
| Cash and fixed deposits | 41,394 | 42,076 |
| 95,775 | 95,258 | |
| Total assets | 150,041 | 144,420 |
| Current liabilities | ||
| Trade and other payables | 17,462 | 15,811 |
| Contract liabilities | 17,193 | 23,523 |
| Provision | 7,698 | 7,120 |
| Interest bearing loans and borrowings | 1,121 | 377 |
| Deferred consideration | 96 | 94 |
| Lease liabilities | 271 | 280 |
| Current tax payables | 2,167 | 3,457 |
| 46,008 | 50,662 | |
| Non-current liabilities | ||
| Deferred tax liabilities | 979 | 952 |
| Interest bearing loans and borrowings | 5,639 | 3,266 |
| Deferred consideration | 1,761 | 1,807 |
| Lease liabilities | 369 | 492 |
| 8,748 | 6,517 | |
| Total liabilities | 54,756 | 57,179 |
| Capital and reserves | ||
| Share capital | 43,580 | 43,136 |
| Share-based compensation reserve | 758 | 617 |
| Foreign currency translation reserve | (3,069) | (4,831) |
| Accumulated profits | 54,016 | 48,319 |
| Total equity | 95,285 | 87,241 |
| Total equity and liabilities | 150,041 | 144,420 |
Consolidated statement of cash flows (Unaudited)
|
Group 6-Month period ended 31 December |
||
|---|---|---|
|
2024 $'000 |
2023 $'000 |
|
| Cash flows from operating activities | ||
| Profit after tax | 7,563 | 6,928 |
| Adjustments for:- | ||
| Depreciation of property, plant and equipment | 2,576 | 2,462 |
| Depreciation of right-of-use assets | 296 | 332 |
| Amortisation of intangible assets | 56 | 57 |
| Property, plant and equipment written off | - | 1 |
| Allowance made for inventories obsolescence, net | 310 | 448 |
| Interest income | (476) | (520) |
| Share-based payment expenses | 141 | 94 |
| Interest expense | 207 | 59 |
| Tax expenses | 3,835 | 3,540 |
| Unrealised foreign exchange loss | 641 | 490 |
| 15,149 | 13,891 | |
| Changes in : | ||
| – Inventories | (5,112) | 1,521 |
| – Trade and other receivables | 1,465 | (6,725) |
| – Prepayments | (1,294) | (766) |
| – Contract assets | 4,074 | (2,260) |
| – Contract liabilities | (5,972) | 2,101 |
| – Trade and other payables | 1,280 | (935) |
| – Provisions | 303 | 2,289 |
| Cash generated from operations | 9,893 | 9,116 |
| Net income tax paid | (4,672) | (259) |
| Net cash from operating activities | 5,221 | 8,857 |
| Cash flows from investing activities | ||
| Interest received | 475 | 520 |
| Proceeds from longer fixed deposits | - | 3,192 |
| Restricted cash | (3,312) | - |
| Proceeds from other investment | - | 989 |
| Purchase of property, plant and equipment* | (4,376) | (2,631) |
| Net cash from/(used in) investing activities | (7,213) | 2,070 |
| Cash flows from financing activities | ||
| Interest paid | (168) | (44) |
| Interest paid on right-of-use assets | (39) | (15) |
| Dividend paid | (1,866) | (1,846) |
| Repayment of lease liabilities | (167) | (134) |
| Repayment of interest-bearing loans and borrowings | (129) | (422) |
| Proceeds from interest bearing loans and borrowings | 82 | - |
| Repayment of deferred consideration | (46) | (286) |
| Proceeds from issue of shares pursuant to share plans | 444 | - |
| Net cash used in financing activities | (1,889) | (2,747) |
| Net (decrease)/increase in cash and cash equivalents | (3,881) | 8,180 |
| Cash and cash equivalents at beginning of period | 39,305 | 35,522 |
| Effect of exchange rate changes on balances held in foreign currency | (115) | (860) |
| Cash and cash equivalents at end of period | 35,309 | 42,842 |
* Included in additions to property, plant and machinery (see Note 2(c)) was the extension of factory in Malaysia amounting to $3,063,000 (31 December 2023: $444,000) of which $3,029,000 (31 December 2023: $377,000) was partially financed by the bank.