GOLDEN AGRI-RESOURCES LTD Revenue | 1st Qtr 2016 US$' 000 | (Restated) 1st Qtr 2015 US$' 000 | Change % |
1,493,603 | 1,553,338 | (3.8) | |
Gross Profit | 262,368 | 203,606 | 28.9 |
EBITDA1 | 141,875 | 128,128 | 10.7 |
Core net profit2 attributable to owners of the Company | 40,447 | 24,447 | 65.4 |
Core net profit2 per share (USD cents) | 0.32 | 0.19 | 66.7 |
Notes:
Earnings before tax, non-controlling interests, interest on borrowings, depreciation and amortisation, net gain from changes in fair value of biological assets and foreign exchange gain/(loss).
Net profit before accounting for the effect of net gain from changes in fair value of biological assets and foreign exchange gain/(loss) (net of non-controlling interests).
Certain comparative figures have been restated to account for retrospective adjustments arising from the adoption of amended IAS 16 and IAS 41. Please refer to Note 5 for further details.
1(a) An income statement and statement of comprehensive income for the group together with a comparative statement for the corresponding period of the immediately preceding financial year
UNAUDITED CONSOLIDATED INCOME STATEMENT FOR THE PERIOD ENDED 31 MARCH 2016 | ||||
(Restated) | ||||
1st Qtr 2016 US$' 000 | 1st Qtr 2015 US$' 000 | Change % | ||
Revenue | 1,493,603 | 1,553,338 | (3.8) | |
Cost of sales | (1,231,235) | (1,349,732) | (8.8) | |
Gross profit | 262,368 | 203,606 | 28.9 | |
Operating expenses | ||||
Selling expenses | (152,125) | (101,166) | 50.4 | |
General and administrative expenses | (69,778) | (67,978) | 2.6 | |
Total operating expenses | (221,903) | (169,144) | 31.2 | |
Operating profit | 40,465 | 34,462 | 17.4 | |
Other income/(expenses) | ||||
Financial income | 5,890 | 8,107 | (27.3) | |
Financial expenses | (32,184) | (31,933) | 0.8 | |
Share of results of associated companies, net of tax | (26) | (56) | (53.6) | |
Share of results of joint ventures, net of tax | 3,527 | 1,779 | 98.3 | |
Foreign exchange gain/(loss), net | 51,883 | (34,960) | n.m. | |
Other operating income | 9,557 | 21,300 | (55.1) | |
38,647 | (35,763) | n.m. | ||
Profit/(Loss) before tax | 79,112 | (1,301) | n.m. | |
Tax | 14,488 | (2,279) | n.m. | |
Profit/(Loss) for the period | 93,600 | (3,580) | n.m. | |
Attributable to: | ||||
Owners of the Company | 94,091 | (3,232) | n.m. | |
Non-controlling interests | (491) | (348) | 41.1 | |
93,600 | (3,580) | n.m. | ||
Notes:
n.m. - not meaningful.
Certain comparative figures have been restated to account for retrospective adjustments arising from the adoption of amended IAS 16 and IAS 41. Please refer to Note 5 for further details.
UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED 31 MARCH 2016 | |||
1st Qtr 2016 US$' 000 | (Restated) 1st Qtr 2015 US$' 000 | ||
Profit/(Loss) for the period | 93,600 | (3,580) | |
Other comprehensive income/(loss): | |||
Items that may be reclassified subsequently to profit or loss: | |||
Foreign currency translation differences on consolidation | 3,872 | (4,891) | |
Changes in fair value of cash flow hedges | 742 | (1,656) | |
Changes in fair value of available-for-sale financial assets | (1,653) | 6,164 | |
2,961 | (383) | ||
Items that will not be reclassified subsequently to profit or loss: | |||
Actuarial gain on post-employment benefits | - | 441 | |
Other comprehensive income, net of tax | 2,961 | 58 | |
Total comprehensive income/(loss) for the period, net of tax | 96,561 | (3,522) | |
Total comprehensive income/(loss) attributable to: | |||
Owners of the Company | 97,017 | (3,177) | |
Non-controlling interests | (456) | (345) | |
96,561 | (3,522) | ||
(Restated) | ||||
1st Qtr 2016 US$' 000 | 1st Qtr 2015 US$' 000 | Change % | ||
Earnings before tax, non-controlling interests, interest on borrowings, depreciation and amortisation, net gain from changes in fair value of biological assets and foreign exchange gain/(loss) ("EBITDA") | 141,875 | 128,128 | 10.7 | |
Interest on borrowings | (31,417) | (31,012) | 1.3 | |
Depreciation and amortisation | (85,395) | (73,090) | 16.8 | |
Net gain from changes in fair value of biological assets | 2,166 | 9,633 | (77.5) | |
Foreign exchange gain/(loss), net | 51,883 | (34,960) | n.m. | |
Profit/(Loss) before tax | 79,112 | (1,301) | n.m. | |
Notes:
The comparative EBITDA for 1st quarter 2015 has been recalculated to include share of results of associated companies and joint ventures, net of tax to conform with current period's presentation.
Certain comparative figures have been restated to account for retrospective adjustments arising from the adoption of amended IAS 16 and IAS 41. Please refer to Note 5 for further details.
n.m. - 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
UNAUDITED STATEMENTS OF FINANCIAL POSITIONGroup | Company | ||||||||
(Restated) | (Restated) | ||||||||
As at | As at | As at | As at | As at | |||||
31/3/2016 | 31/12/2015 | 31/12/2014 | 31/3/2016 | 31/12/2015 | |||||
US$' 000 | US$' 000 | US$' 000 | US$' 000 | US$' 000 | |||||
Assets | |||||||||
Current Assets | |||||||||
Cash and cash equivalents | 205,302 | 243,616 | 329,560 | 120 | 95 | ||||
Short-term investments | 243,671 | 258,882 | 261,166 | - | - | ||||
Trade receivables | 411,062 | 462,152 | 525,816 | - | - | ||||
Other current assets (note (a)) | 971,683 | 959,867 | 889,756 | 45 | 9 | ||||
Inventories | 779,607 | 740,918 | 850,723 | - | - | ||||
2,611,325 | 2,665,435 | 2,857,021 | 165 | 104 | |||||
Non-Current Assets | |||||||||
Long-term receivables and assets (note (b)) | 246,086 | 202,870 | 360,593 | - | - | ||||
Long-term investments | 826,625 | 815,252 | 804,318 | 333,300 | 323,550 | ||||
Subsidiary companies | - | - | - | 2,087,715 | 2,097,665 | ||||
Associated companies | 9,323 | 9,556 | 8,431 | - | - | ||||
Joint ventures | 60,435 | 55,771 | 56,167 | - | - | ||||
Investment properties | 1,103 | 1,113 | 1,227 | - | - | ||||
Property, plant and equipment | 2,847,132 | 2,842,292 | 2,551,664 | - | - | ||||
Bearer plants | 1,191,225 | 1,227,784 | 1,227,976 | - | - | ||||
Deferred tax assets | 90,090 | 56,523 | 27,036 | - | - | ||||
Deferred charges | 7,195 | 6,866 | 8,332 | - | - | ||||
Intangible assets | 2,096 | 297 | 353 | - | - | ||||
Goodwill | 152,005 | 151,951 | 152,021 | - | - | ||||
5,433,315 | 5,370,275 | 5,198,118 | 2,421,015 | 2,421,215 | |||||
Total Assets | 8,044,640 | 8,035,710 | 8,055,139 | 2,421,180 | 2,421,319 | ||||
Note: Certain comparative figures have been restated and reclassified to account for retrospective adjustments arising from the adoption of amended IAS 16 and IAS 41. Please refer to Note 5 for further details.
gar - Golden Agri-Resources Ltd. 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.
Original documenthttp://www.goldenagri.com.sg/pdfs/SGX Filings/2016/GAR14-13-05-2016-1Q2016ResultsFinancialStatement.pdf
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