GENTING SINGAPORE LIMITED FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDED 31 MARCH 2016
PART I - INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2 & Q3), HALF AND FULL YEAR ANNOUNCEMENTS
1(a)(i) A statement of comprehensive income (for the Group) together with a comparative statement for the corresponding period of the immediately preceding financial year.
STATEMENT OF COMPREHENSIVE INCOME
First quarter ended 31 March | |||
2016 | 2015 | Change | |
$'000 | $'000 | % | |
Revenue | 608,011 | 639,240 | (5) |
Cost of sales | (436,777) | (456,898) | (4) |
Gross profit | 171,234 | 182,342 | (6) |
Other operating income | 21,119 | 135,037 | (84) |
Fair value loss on derivative financial instruments | - | (118,010) | (100) |
Administrative expenses | (42,594) | (50,881) | (16) |
Selling and distribution expenses | (13,663) | (11,841) | 15 |
Other operating expenses | (53,980) | (6,555) | >100 |
Operating profit | 82,116 | 130,092 | (37) |
Finance costs | (14,010) | (11,344) | 24 |
Share of results of joint ventures and associate | (1,474) | 1,172 | NM |
Profit before taxation | 66,632 | 119,920 | (44) |
Taxation | (26,403) | (28,194) | (6) |
Net profit for the financial period | 40,229 | 91,726 | (56) |
Other comprehensive (loss)/income, may be reclassified subsequently to profit or loss: | |||
Available-for-sale financial assets | |||
- Fair value loss | (20,867) | (19,228) | 9 |
- Reclassification to profit or loss | 9,943 | (1,059) | NM |
Foreign currency exchange differences | (1,600) | 2,768 | NM |
Reclassification of foreign currency exchange differences | - | (524) | (100) |
Other comprehensive loss for the financial period, net of tax | (12,524) | (18,043) | (31) |
Total comprehensive income for the financial period | 27,705 | 73,683 | (62) |
NM: Not meaningful
STATEMENT OF COMPREHENSIVE INCOME (CONT'D)
First quarter ended 31 March | |||
2016 | 2015 | Change | |
$'000 | $'000 | % | |
Net profit attributable to: | |||
- Ordinary shareholders of the Company | 10,841 | 62,661 | (83) |
- Holders of perpetual capital securities | 29,388 | 29,065 | 1 |
40,229 | 91,726 | (56) | |
Total comprehensive (loss)/income attributable to: | |||
- Ordinary shareholders of the Company | (1,683) | 44,618 | NM |
- Holders of perpetual capital securities | 29,388 | 29,065 | 1 |
27,705 | 73,683 | (62) | |
First quarter ended 31 March | |||
2016 | 2015 | Change | |
% | |||
Earnings per share attributable to ordinary shareholders of the Company | |||
Basic (Singapore cents) | 0.09 | 0.52 | (83) |
Diluted (Singapore cents) | 0.09 | 0.52 | (83) |
NM: Not meaningful
1(a)(ii) Included in the profit before taxation for the financial period are the following charges and credits:
First quarter ended 31 March | |||
2016 | 2015 | Change | |
$'000 | $'000 | % | |
Property, plant and equipment: | |||
- depreciation | (71,057) | (102,902) | (31) |
- net gain/(loss) on disposal | 21 | (22) | NM |
- written off | (511) | (6,571) | (92) |
Amortisation of: | |||
- intangible assets | (5,565) | (4,901) | 14 |
- borrowing costs | (2,814) | (2,098) | 34 |
Share-based payment | (2,991) | (3,596) | (17) |
Impairment on trade receivables | (92,421) | (76,277) | 21 |
Inventory write-down | (47) | (35) | 34 |
Finance charges | (11,196) | (9,246) | 21 |
Fair value loss on derivative financial instruments | - | (118,010) | (100) |
Impairment on available-for-sale financial assets | (9,943) | - | NM |
Gain on disposal of available-for-sale financial assets, net of transaction costs | - | 1,049 | (100) |
Net foreign exchange (loss)/gain | (43,525) | 119,333 | NM |
Interest income | 21,097 | 13,802 | 53 |
NM: Not meaningful
1(b)(i) A statement of financial position (for the issuer and Group), together with a comparative statement as at the end of the immediately preceding financial year.
STATEMENTS OF FINANCIAL POSITION
Group | Company | ||||
31 March 31 | December | 31 March | 31 December | ||
2016 | 2015 | 2016 | 2015 | ||
$'000 | $'000 | $'000 | $'000 | ||
Non-current assets | |||||
Property, plant and equipment | 5,421,990 | 5,487,403 | 288 | 318 | |
Intangible assets | 161,881 | 101,020 | - | - | |
Interests in joint ventures and associate | 126,848 | 129,972 | - | - | |
Interests in subsidiaries | - | - | 2,280,400 | 2,286,551 | |
Deferred tax assets | 1,893 | 1,743 | - | - | |
Available-for-sale financial assets | 186,479 | 207,347 | - | - | |
Trade and other receivables | 247,723 | 248,566 | 706,745 | 707,492 | |
6,146,814 | 6,176,051 | 2,987,433 | 2,994,361 | ||
Current assets | |||||
Asset classified as held for sale | 31,941 | 31,941 | - | - | |
Inventories | 56,967 | 57,186 | - | - | |
Trade and other receivables | 533,785 | 646,379 | 469,826 | 483,434 | |
Restricted cash | 113,536 | 113,223 | - | - | |
Cash and cash equivalents | 5,004,987 | 5,002,063 | 3,920,202 | 3,565,367 | |
Dividend receivables | - | - | 1,122 | - | |
5,741,216 | 5,850,792 | 4,391,150 | 4,048,801 | ||
Less: Current liabilities | |||||
Trade and other payables | 363,267 | 412,372 | 249,943 | 239,279 | |
Bank borrowings | 164,496 | 164,224 | - | - | |
Finance leases | 2,836 | 2,606 | - | - | |
Income tax liabilities | 98,320 | 67,946 | 32 | 25 | |
628,919 | 647,148 | 249,975 | 239,304 | ||
Net current assets | 5,112,297 | 5,203,644 | 4,141,175 | 3,809,497 | |
Total assets less current liabilities | 11,259,111 | 11,379,695 | 7,128,608 | 6,803,858 | |
Genting Singapore plc published this content on 13 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 May 2016 09:53:02 UTC.
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