FIRST PACIFIC COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
第一太平有限公司(Incorporated with limited liability under the laws of Bermuda)
Website: http://www.firstpacific.com
(Stock Code: 00142) ANNOUNCEMENT MADE BY PT INDOFOOD SUKSES MAKMUR TBK IN RELATION TO ITS AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016This Announcement is made by First Pacific Company Limited ("First Pacific" or the "Company") pursuant to the requirements of Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("HKEX") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) to provide shareholders of First Pacific and the public with the audited consolidated financial results of PT Indofood Sukses Makmur Tbk ("Indofood"), a subsidiary of the Company, for the year ended 31 December 2016.
SummaryThe board of directors of Indofood approved the release of the audited consolidated financial results for the year ended 31 December 2016, which have been submitted to the Indonesia Stock Exchange on 24 March 2017, and have also been disclosed as the Company's Overseas Regulatory Announcement on the websites of the HKEX and the Company.
Indofood, a 50.1% owned subsidiary of the Company, is a company incorporated in Indonesia whose shares are listed on the Indonesia Stock Exchange. The board of directors of Indofood approved the release of the audited consolidated financial results for the year ended 31 December 2016, which have been submitted to the Indonesia Stock Exchange on 24 March 2017, and have also been disclosed as the Company's Overseas Regulatory Announcement on the websites of the HKEX and the Company. The audited consolidated financial statements have been prepared in conformity with the generally accepted accounting principles in Indonesia and are presented in Indonesian Rupiah. Indofood's audited Consolidated Statements of Profit or Loss and Other Comprehensive Income for the years ended 31 December 2016, 2015 and 2014, as well as the audited Consolidated Statements of Financial Position as at 31 December 2016, 2015 and 2014
are provided below:
PT INDOFOOD SUKSES MAKMUR TBK AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (AUDITED) FOR THE YEARS ENDED 31 DECEMBER 2016, 2015 AND 2014(Expressed in Millions of Rupiah, Unless Otherwise Stated)
CONTINUING OPERATIONS | 2016 | 2015 | 2014 | ||
NET SALES | 66,750,317 | 64,061,947 | 63,594,452 | ||
COST OF GOODS SOLD | 47,321,877 | 46,803,889 | 46,465,617 | ||
GROSS PROFIT | 19,428,440 | 17,258,058 | 17,128,835 | ||
Selling and distribution expenses | (7,168,040) | (6,885,612) | (6,241,394) | ||
General and administrative expenses | (3,988,897) | (3,495,437) | (3,902,208) | ||
Other operating income | 642,368 | 859,172 | 727,004 | ||
Other operating expenses | (628,864) | (373,286) | (392,617) | ||
INCOME FROM OPERATIONS | 8,285,007 | 7,362,895 | 7,319,620 | ||
Finance income | 1,050,651 | 735,879 | 858,838 | ||
Finance expenses | (1,574,152) | (2,665,675) | (1,552,958) | ||
Final tax on interest income | (130,555) | (136,709) | (166,257) | ||
Share in net losses of associates | (245,723) | (334,306) | (119,058) | ||
INCOME BEFORE INCOME TAX EXPENSE | 7,385,228 | 4,962,084 | 6,340,185 | ||
Income Tax Expense | (2,532,747) | (1,730,371) | (1,855,939) | ||
INCOME FOR THE YEAR FROM CONTINUING | |||||
OPERATIONS | 4,852,481 | 3,231,713 | 4,484,246 | ||
A DISCONTINUED OPERATION INCOME FOR THE YEAR FROM A DISCONTINUED | |||||
OPERATION | 414,425 | 477,788 | 745,243 | ||
INCOME FOR THE YEAR | 5,266,906 | 3,709,501 | 5,229,489 | ||
Other comprehensive income (losses) | |||||
Items that will not be reclassified to profit and loss: | |||||
Re-measurement gains (losses) of employees' benefit
liabilities 13,493 311,665 (29,687)
Share of other comprehensive losses of associates,
net of tax (1,880) (3,450) -
Items that may be reclassified to profit and loss:
Unrealized gains (losses) on available-for-sale
financial assets (230,850) 392,698 (27,492)
Exchange differences on translation of
financial statements (184,997) 759,668 (324,233) Share of other comprehensive income (losses) of
associates, net of tax | 182,646 | (173,187) | (74,928) |
Fair value gains (losses) arising from cash flow hedges | (61,013) | (129,548) | 92,948 |
Other comprehensive income (losses) for the year,
net of tax (282,601) 1,157,846 (363,392)
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 4,984,305 4,867,347 4,866,097 PT INDOFOOD SUKSES MAKMUR TBK AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (AUDITED) (CONTINUED) FOR THE YEARS ENDED 31 DECEMBER 2016, 2015 AND 2014(Expressed in Millions of Rupiah, Unless Otherwise Stated)
2016 2015 2014 Income for the year attributable to:Equity holders of the parent entity | 4,144,571 | 2,967,951 | 3,941,794 |
Non-controlling interests | 1,122,335 | 741,550 | 1,287,695 |
Equity holders of the parent entity | 3,817,112 | 4,066,347 | 3,569,608 |
Non-controlling interests | 1,167,193 | 801,000 | 1,296,489 |
(Expressed in Millions of Rupiah, Unless Otherwise Stated)
31 December 2016 | 31 December 2015 | 31 December 2014 | |
ASSETS | |||
CURRENT ASSETS Cash and cash equivalents | 13,362,236 | 13,076,076 | 14,157,619 |
Short-term investments Accounts receivable Trade | 534,138 | 1,090,607 | 665,340 |
Third parties - net | 3,729,640 | 3,522,553 | 3,001,157 |
Related parties Non-trade Third parties | 887,206 216,638 | 733,261 458,089 | 553,910 500,602 |
Related parties | 371,033 | 402,707 | 302,755 |
Inventories - net | 8,469,821 | 7,627,360 | 8,446,349 |
Advances and deposits | 699,403 | 809,685 | 649,072 |
Prepaid taxes | 320,384 | 302,105 | 351,822 |
Future crop expenditures | 180,900 | 165,308 | 161,819 |
Prepaid expenses and other current assets | 214,044 | 253,910 | 390,760 |
Assets of disposal group classified as held for sale | - | 14,375,084 | 11,832,922 |
Total Current Assets | 28,985,443 | 42,816,745 | 41,014,127 |
NON-CURRENT ASSETS Claims for tax refund | 271,485 | 261,934 | 457,440 |
Plasma receivables - net | 1,064,600 | 785,773 | 618,026 |
Deferred tax assets - net | 2,044,321 | 2,083,290 | 1,742,851 |
Long-term investments Plantations Mature plantations - net | 3,276,017 6,014,014 | 1,898,233 5,193,423 | 1,877,887 5,116,106 |
Immature plantations | 3,095,395 | 3,612,838 | 3,197,449 |
Industrial timber plantations - net | 284,162 | 281,726 | 279,221 |
Fixed assets - net | 25,701,913 | 25,096,342 | 21,982,095 |
Investment property | 42,188 | 42,188 | - |
Deferred charges - net | 627,998 | 676,166 | 596,345 |
Goodwill | 3,976,524 | 3,976,524 | 3,976,524 |
Intangible assets - net | 2,329,997 | 2,628,235 | 2,761,473 |
Long-term prepayments | 981,204 | 948,126 | 761,489 |
Other non-current assets | 3,479,254 | 1,529,983 | 1,696,218 |
Total Non-current Assets | 53,189,072 | 49,014,781 | 45,063,124 |
TOTAL ASSETS | 82,174,515 | 91,831,526 | 86,077,251 |
First Pacific Company Limited published this content on 24 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 March 2017 00:29:19 UTC.
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