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Financials
Unaudited Financial Statements And Dividend Announcement For The Second Half And Financial Year Ended 30 June 2024
Financials Archive
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Consolidated income statement (Unaudited)
| Group 6-Month period ended 30 June |
|||
|---|---|---|---|
|
2024 $'000 |
2023 $'000 |
Change % |
|
| Revenue | 68,646 | 63,956 | 7.3 |
| Cost of sales | (41,545) | (41,305) | (0.6) |
| Gross Profit | 27,101 | 22,651 | 19.6 |
| Selling and marketing expenses | (3,141) | (7,912) | (60.3) |
| Administrative expenses | (4,322) | (4,119) | 4.9 |
| Other operating expenses | (1,465) | (546) | 168.3 |
| Total operating expenses | (8,928) | (12,577) | (29.0) |
| Profit from operations | 18,173 | 10,074 | 80.4 |
| Other non-operating expense, net | 895 | 368 | 143.2 |
| Finance costs | (337) | (84) | N.m |
| Profit before tax | 18,731 | 10,358 | 80.8 |
| Tax expense | (4,278) | (3,864) | 10.7 |
| Profit for the period attributable to owners of the Company | 14,453 | 6,494 | 122.6 |
Consolidated statement of comprehensive income (Unaudited)
| Group 6-Month period ended 30 June |
|||
|---|---|---|---|
|
2024 $'000 |
2023 $'000 |
Inc/(Dec) % |
|
| Profit for the period | 14,453 | 6,494 | 122.6 |
| Other comprehensive loss Items that may be reclassified subsequently to profit or loss | |||
| Translation differences relating to financial statements of foreign subsidiaries | 175 | (1,482) | (111.8) |
| Other comprehensive loss for the period, net of income tax | 175 | (1,482) | (111.8) |
| Total comprehensive income for the period attributable to owners of the Company | 14,628 | 5,012 | 191.9 |
Consolidated statements of financial position (Unaudited)
| Group | ||
|---|---|---|
| 30-Jun-24 $'000 |
30-Jun-23 $'000 |
|
| Non-current assets | ||
| Property, plant and equipment | 34,385 | 30,549 |
| Right-of-use assets | 5,839 | 5,509 |
| Subsidiaries | - | - |
| Intangible assets | 6,783 | 6,886 |
| Deferred tax assets | 2,360 | 2,193 |
| 49,367 | 45,137 | |
| Current assets | ||
| Inventories | 29,600 | 18,204 |
| Contract assets | 10,041 | 16,346 |
| Trade and other receivables | 11,785 | 6,918 |
| Prepayments | 1,521 | 1,805 |
| Other investments | - | 1,008 |
| Cash and fixed deposits | 42,076 | 40,063 |
| 95,023 | 84,344 | |
| Total assets | 144,390 | 129,481 |
| Current liabilities | ||
| Trade and other payables | 15,807 | 25,311 |
| Contract liabilities | 23,523 | 22,546 |
| Provision | 7,061 | 4,378 |
| Interest bearing loans and borrowings | 2,196 | 525 |
| Deferred consideration | 94 | 565 |
| Lease liabilities | 280 | 210 |
| Current tax payables | 3,457 | 2,348 |
| 52,418 | 55,883 | |
| Non-current liabilities | ||
| Deferred tax liabilities | 952 | 830 |
| Interest bearing loans and borrowings | 1,447 | 1,707 |
| Deferred consideration | 1,807 | 1,898 |
| Lease liabilities | 492 | 40 |
| 4,698 | 4,475 | |
| Total liabilities | 57,116 | 60,358 |
| Capital and reserves | ||
| Share capital | 43,136 | 43,136 |
| Share-based compensation reserve | 617 | 381 |
| Foreign currency translation reserve | (4,798) | (4,101) |
| Accumulated profits | 48,319 | 29,707 |
| Total equity | 87,274 | 69,123 |
| Total equity and liabilities | 144,390 | 129,481 |
Consolidated statement of cash flows (Unaudited)
|
Group 6-Month period ended 31 June |
||
|---|---|---|
|
2024 $'000 |
2023 $'000 |
|
| Cash flows from operating activities | ||
| Profit after tax | 14,453 | 6,494 |
| Adjustments for:- | ||
| Depreciation of property, plant and equipment | 2,388 | 2,207 |
| Depreciation of right-of-use assets | 160 | 265 |
| Amortisation of intangible assets | 57 | 58 |
| Loss on disposal of property, plant and equipment | 29 | - |
| Impairment losses on property, plant and equipment | 52 | - |
| (Write-back)/Allowance made for inventories obsolescence, net | (13) | (102) |
| Interest income | (651) | (487) |
| Interest expense | 337 | 84 |
| Equity-settled share base expense | 142 | - |
| Tax expenses | 4,278 | 3,864 |
| Unrealised foreign exchange loss | (684) | (710) |
| 20,548 | 11,673 | |
| Changes in : | ||
| – Inventories | (15,716) | (6,834) |
| – Trade and other receivables | 1,972 | (1,694) |
| – Prepayments | 1,060 | (56) |
| – Contract assets | 8,571 | (7,432) |
| – Contract liabilities | (1,147) | (348) |
| – Trade and other payables | (9,132) | 7,999 |
| – Provisions | 402 | 314 |
| Cash generated from operations | 6,558 | 3,622 |
| Net income tax paid | (6,388) | (59) |
| Net cash from operating activities | 170 | 3,563 |
| Cash flows from investing activities | ||
| Interest received | 579 | 436 |
| Placement of longer term deposits | (1,359) | (4,541) |
| Proceeds from longer term deposits | 1,327 | - |
| Purchase of other investment | - | (1,014) |
| Proceeds from other investment | - | - |
| Proceeds from disposal of property, plant and equipment | 25 | - |
| Purchase of property, plant and equipment | (2,111) | (2,854) |
| Net cash from/(used in) investing activities | (1,539) | (7,973) |
| Cash flows from financing activities | ||
| Interest paid | (97) | (84) |
| Dividend paid | (923) | - |
| Repayment of lease liabilities | (156) | (138) |
| Repayment of interest-bearing loans and borrowings | (92) | (536) |
| Repayment of deferred consideration | (275) | (256) |
| Net cash used in financing activities | (1,543) | (1,014) |
| Net increase in cash and cash equivalents | (2,912) | (5,424) |
| Cash and cash equivalents at beginning of period/year | 42,842 | 40,690 |
| Effect of exchange rate changes on balances held in foreign currency | 787 | 256 |
| Cash and cash equivalents at end of period/year | 40,717 | 35,522 |