GOLDEN AGRI-RESOURCES LTD Revenue | 1st Qtr 2017 US$' 000 | 1st Qtr 2016 US$' 000 | Change % |
2,046,446 | 1,493,603 | 37.0 | |
Gross Profit | 290,937 | 262,368 | 10.9 |
EBITDA1 | 182,780 | 141,875 | 28.8 |
Underlying profit 2 | 83,598 | 49,309 | 69.5 |
Underlying profit per share (USD cents) | 0.66 | 0.39 | 69.5 |
Net Profit attributable to owners of the Company | 37,552 | 94,091 | (60.1) |
Notes:
Earnings before tax, non-controlling interests, interest on borrowings, depreciation and amortisation, net (loss)/gain from changes in fair value of biological assets and foreign exchange (loss)/gain.
Net profit attributable to owners of the Company excluding net effect of net gain or loss from changes in fair value of biological assets and depreciation of bearer plants and other non-operating items (foreign exchange gain or loss, net tax impact from tax- based asset revaluations, and other deferred tax income or expense).
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 2017 | |||
1st Qtr 2017 US$' 000 | 1st Qtr 2016 US$' 000 | Change % | |
Revenue | 2,046,446 | 1,493,603 | 37.0 |
Cost of sales | (1,755,509) | (1,231,235) | 42.6 |
Gross profit | 290,937 | 262,368 | 10.9 |
Operating expenses | |||
Selling expenses | (141,508) | (152,125) | (7.0) |
General and administrative expenses | (73,366) | (69,778) | 5.1 |
Total operating expenses | (214,874) | (221,903) | (3.2) |
Operating profit | 76,063 | 40,465 | 88.0 |
Other income/(expenses) | |||
Financial income | 6,684 | 5,890 | 13.5 |
Financial expenses | (35,469) | (32,184) | 10.2 |
Share of results of associated companies, net of tax | 580 | (26) | n.m. |
Share of results of joint ventures, net of tax | 1,609 | 3,527 | (54.4) |
Foreign exchange (loss)/gain | (1,155) | 51,883 | n.m. |
Other operating income | 5,489 | 9,557 | (42.6) |
(22,262) | 38,647 | n.m. | |
Profit before tax | 53,801 | 79,112 | (32.0) |
Tax | (15,545) | 14,488 | n.m. |
Profit for the period | 38,256 | 93,600 | (59.1) |
Attributable to: | |||
Owners of the Company | 37,552 | 94,091 | (60.1) |
Non-controlling interests | 704 | (491) | n.m. |
38,256 | 93,600 | (59.1) | |
Notes:
(1) n.m. - not meaningful.
UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED 31 MARCH 2017 | ||
1st Qtr 2017 US$' 000 | 1st Qtr 2016 US$' 000 | |
Profit for the period | 38,256 | 93,600 |
Other comprehensive income/(loss): | ||
Items that may be reclassified subsequently to profit or loss: | ||
Foreign currency translation differences on consolidation | 2,739 | 2,817 |
Share of other comprehensive income of a joint venture | 453 | 1,055 |
Changes in fair value of cash flow hedges | (69) | 742 |
Changes in fair value of available-for-sale financial assets | (9,574) | (1,653) |
Other comprehensive (loss)/income, net of tax | (6,451) | 2,961 |
Total comprehensive income for the period, net of tax | 31,805 | 96,561 |
Total comprehensive income attributable to: | ||
Owners of the Company | 31,036 | 97,017 |
Non-controlling interests | 769 | (456) |
31,805 | 96,561 | |
1st Qtr 2017 US$' 000 | 1st Qtr 2016 US$' 000 | Change % | |
Earnings before tax, non-controlling interests, interest on borrowings, depreciation and amortisation, net (loss)/gain from changes in fair value of biological assets and foreign exchange (loss)/gain ("EBITDA") | 182,780 | 141,875 | 28.8 |
Interest on borrowings | (35,164) | (31,417) | 11.9 |
Depreciation and amortisation | (91,773) | (85,395) | 7.5 |
Net (loss)/gain from changes in fair value of biological assets | (887) | 2,166 | n.m. |
Foreign exchange (loss)/gain | (1,155) | 51,883 | n.m. |
Profit before tax | 53,801 | 79,112 | (32.0) |
Notes:
(1) 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 | |||||||
As at | As at | As at | As at | |||||
31/3/2017 31/12/2016 | 31/3/2017 | 31/12/2016 | ||||||
US$' 000 | US$' 000 | US$' 000 | US$' 000 | |||||
Assets | ||||||||
Current Assets | ||||||||
Cash and cash equivalents | 189,961 | 153,007 | 129 | 77 | ||||
Short-term investments | 203,683 | 201,972 | - | - | ||||
Trade receivables | 564,694 | 561,411 | - | - | ||||
Other current assets (note (a)) | 929,177 | 892,529 | 54 | 19 | ||||
Inventories | 1,030,714 | 967,138 | - | - | ||||
2,918,229 | 2,776,057 | 183 | 96 | |||||
Non-Current Assets | ||||||||
Long-term receivables and assets (note (b)) | 258,922 | 253,008 | - | - | ||||
Long-term investments | 846,450 | 847,370 | 334,485 | 333,300 | ||||
Subsidiary companies | - | - | 2,038,893 | 2,040,149 | ||||
Associated companies | 10,744 | 10,158 | - | - | ||||
Joint ventures | 64,454 | 62,112 | - | - | ||||
Investment properties | 980 | 986 | - | - | ||||
Property, plant and equipment | 2,777,080 | 2,788,483 | - | - | ||||
Bearer plants | 1,063,136 | 1,101,374 | - | - | ||||
Deferred tax assets | 294,662 | 301,860 | - | - | ||||
Intangible assets | 165,890 | 165,007 | - | - | ||||
5,482,318 | 5,530,358 | 2,373,378 | 2,373,449 | |||||
Total Assets | 8,400,547 | 8,306,415 | 2,373,561 | 2,373,545 | ||||
gar - Golden Agri-Resources Ltd. published this content on 15 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 May 2017 09:42:16 UTC.
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