Revenue | 1st Half 2016 US$'000 | (Restated) 1st Half 2015 US$'000 | Change % | 2nd Qtr 2016 US$'000 | (Restated) 2nd Qtr 2015 US$'000 | Change % |
3,235,377 | 3,384,389 | (4.4) | 1,741,774 | 1,831,051 | (4.9) | |
Gross Profit | 425,627 | 458,294 | (7.1) | 163,259 | 254,688 | (35.9) |
EBITDA1 | 227,764 | 273,313 | (16.7) | 85,889 | 145,185 | (40.8) |
Net profit attributable to owners of the Company | 133,613 | 7,207 | 1,753.9 | 39,522 | 10,439 | 278.6 |
Net profit per share (USD cents) | 1.05 | 0.06 | 1,761.3 | 0.31 | 0.08 | 278.7 |
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).
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 30 JUNE 2016 | ||||||||
1st Half 2016 US$'000 | (Restated) 1st Half 2015 US$'000 | Change % | 2nd Qtr 2016 US$'000 | (Restated) 2nd Qtr 2015 US$'000 | Change % | |||
Revenue | 3,235,377 | 3,384,389 | (4.4) | 1,741,774 | 1,831,051 | (4.9) | ||
Cost of sales | (2,809,750) | (2,926,095) | (4.0) | (1,578,515) | (1,576,363) | 0.1 | ||
Gross profit | 425,627 | 458,294 | (7.1) | 163,259 | 254,688 | (35.9) | ||
Operating expenses | ||||||||
Selling expenses | (257,915) | (224,247) | 15.0 | (105,790) | (123,081) | (14.0) | ||
General and administrative expenses | (148,291) | (146,941) | 0.9 | (78,513) | (78,963) | (0.6) | ||
Total operating expenses | (406,206) | (371,188) | 9.4 | (184,303) | (202,044) | (8.8) | ||
Operating profit/(loss) | 19,421 | 87,106 | (77.7) | (21,044) | 52,644 | n.m. | ||
Other income/(expenses) | ||||||||
Financial income | 12,258 | 16,600 | (26.2) | 6,368 | 8,493 | (25.0) | ||
Financial expenses | (64,448) | (64,581) | (0.2) | (32,264) | (32,648) | (1.2) | ||
Share of results of associated companies, net of tax | (161) | (169) | (4.7) | (135) | (113) | 19.5 | ||
Share of results of joint ventures, net of tax | 5,366 | 4,393 | 22.1 | 1,839 | 2,614 | (29.6) | ||
Foreign exchange gain/(loss), net | 30,640 | (53,505) | n.m. | (21,243) | (18,545) | 14.5 | ||
Other operating income, net | 23,255 | 27,799 | (16.3) | 13,698 | 6,499 | 110.8 | ||
6,910 | (69,463) | n.m. | (31,737) | (33,700) | (5.8) | |||
Profit/(Loss) before tax | 26,331 | 17,643 | 49.2 | (52,781) | 18,944 | n.m. | ||
Tax | 110,844 | (11,116) | n.m. | 96,356 | (8,837) | n.m. | ||
Profit for the period | 137,175 | 6,527 | 2001.7 | 43,575 | 10,107 | 331.1 | ||
Attributable to: | ||||||||
Owners of the Company | 133,613 | 7,207 | 1753.9 | 39,522 | 10,439 | 278.6 | ||
Non-controlling interests | 3,562 | (680) | n.m. | 4,053 | (332) | n.m. | ||
137,175 | 6,527 | 2001.7 | 43,575 | 10,107 | 331.1 |
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.
1st Half 2016 US$' 0 0 0 | (Restated) 1st Half 2015 US$' 0 0 0 | 2nd Qtr 2016 US$' 0 0 0 | (Restated) 2nd Qtr 2015 US$' 0 0 0 | ||||
Profit for the period | 137,175 | 6,527 | 43,575 | 10,107 | |||
Other comprehensive income/(loss): | |||||||
Items that may be reclassified subsequently to profit or loss: | |||||||
Foreign currency translation differences on consolidation | (1,950) | (2,664) | (4,767) | 1,119 | |||
Share of other comprehensive income/(loss) of a joint venture | 1,210 | (1,549) | 155 | (441) | |||
Changes in fair value of cash flow hedges | 1,370 | (582) | 628 | 1,074 | |||
Changes in fair value of available-for-sale financial assets | 419 | 4,615 | 2,072 | (1,549) | |||
Equity portion of bonds | - | (264) | - | (264) | |||
1,049 | (444) | (1,912) | (61) | ||||
Items that will not be reclassified subsequently to profit or loss: | |||||||
Actuarial (loss)/gain on post-employment benefits | (10,558) | 441 | (10,558) | - | |||
Other comprehensive loss, net of tax | (9,509) | (3) | (12,470) | (61) | |||
Total comprehensive income for the period, net of tax | 127,666 | 6,524 | 31,105 | 10,046 | |||
Total comprehensive income/(loss) attributable to: | |||||||
Owners of the Company | 124,445 | 7,203 | 27,428 | 10,380 | |||
Non-controlling interests | 3,221 | (679) | 3,677 | (334) | |||
127,666 | 6,524 | 31,105 | 10,046 |
1st Half 2016 US$'000 | (Restated) 1st Half 2015 US$'000 | Change % | 2nd Qtr 2016 US$'000 | (Restated) 2nd Qtr 2015 US$'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") | 227,764 | 273,313 | (16.7) | 85,889 | 145,185 | (40.8) |
Interest on borrowings | (62,936) | (63,020) | (0.1) | (31,519) | (32,008) | (1.5) |
Depreciation and amortisation | (174,286) | (148,808) | 17.1 | (88,891) | (75,718) | 17.4 |
Net gain from changes in fair value of biological assets | 5,149 | 9,663 | (46.7) | 2,983 | 30 | n.m. |
Foreign exchange gain/(loss), net | 30,640 | (53,505) | n.m. | (21,243) | (18,545) | 14.5 |
Profit/(Loss) before tax | 26,331 | 17,643 | 49.2 | (52,781) | 18,944 | n.m. |
Notes:
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 POSITION | ||||||||||
Group | Company | |||||||||
(Restated) | (Restated) | |||||||||
As at | As at | As at | As at | As at | ||||||
30/6/2016 | 31/12/2015 | 31/12/2014 | 30/6/2016 | 31/12/2015 | ||||||
US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | ||||||
Assets | ||||||||||
Current Assets | ||||||||||
Cash and cash equivalents | 157,853 | 243,616 | 329,560 | 90 | 95 | |||||
Short-term investments | 229,657 | 258,882 | 261,166 | - | - | |||||
Trade receivables | 476,818 | 462,152 | 525,816 | - | - | |||||
Other current assets (note (a)) | 1,015,329 | 959,867 | 889,756 | 15 | 9 | |||||
Inventories | 888,995 | 740,918 | 850,723 | - | - | |||||
2,768,652 | 2,665,435 | 2,857,021 | 105 | 104 | ||||||
Non-Current Assets | ||||||||||
Long-term receivables and assets (note (b)) | 259,057 | 202,870 | 360,593 | - | - | |||||
Long-term investments | 828,094 | 815,252 | 804,318 | 333,300 | 323,550 | |||||
Subsidiary companies | - | - | - | 2,040,307 | 2,097,665 | |||||
Associated companies | 9,192 | 9,556 | 8,431 | - | - | |||||
Joint ventures | 61,384 | 55,771 | 56,167 | - | - | |||||
Investment properties | 1,059 | 1,113 | 1,227 | - | - | |||||
Property, plant and equipment | 2,840,550 | 2,842,292 | 2,551,664 | - | - | |||||
Bearer plants | 1,152,831 | 1,227,784 | 1,227,976 | - | - | |||||
Deferred tax assets | 192,306 | 56,523 | 27,036 | - | - | |||||
Intangible assets | 161,053 | 159,114 | 160,706 | - | - | |||||
5,505,526 | 5,370,275 | 5,198,118 | 2,373,607 | 2,421,215 | ||||||
Total Assets | 8,274,178 | 8,035,710 | 8,055,139 | 2,373,712 | 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 12 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 August 2016 01:32:07 UTC.
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