GOLDEN AGRI-RESOURCES LTD Revenue | Full Year 2016 US$'000 | (Restated) Full Year 2015 US$'000 | Change % | 4th Qtr 2016 US$'000 | (Restated) 4th Qtr 2015 US$'000 | Change % |
7,208,849 | 6,510,051 | 10.7 | 2,137,870 | 1,551,709 | 37.8 | |
Gross Profit | 1,014,387 | 1,004,774 | 1.0 | 307,754 | 269,189 | 14.3 |
EBITDA1 | 571,660 | 541,664 | 5.5 | 178,680 | 140,179 | 27.5 |
Net profit attributable to owners of the Company | 399,619 | 10,352 | n.m. | 46,281 | 19,551 | 136.7 |
Earnings per share (USD cents) | 3.14 | 0.08 | n.m. | 0.36 | 0.15 | 136.7 |
Dividend per share (SGD cents) | 0.635 | 0.502 | 26.5 |
Notes:
Earnings before tax, non-controlling interests, interest on borrowings, depreciation and amortisation, net gain/(loss) from changes in fair value of biological assets, foreign exchange gain/(loss) and exceptional item.
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(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 YEAR ENDED 31 DECEMBER 2016 | ||||||||
Full Year 2016 US$'000 | (Restated) Full Year 2015 US$'000 | Change % | 4th Qtr 2016 US$'000 | (Restated) 4th Qtr 2015 US$'000 | Change % | |||
Revenue | 7,208,849 | 6,510,051 | 10.7 | 2,137,870 | 1,551,709 | 37.8 | ||
Cost of sales | (6,194,462) | (5,505,277) | 12.5 | (1,830,116) | (1,282,520) | 42.7 | ||
Gross Profit | 1,014,387 | 1,004,774 | 1.0 | 307,754 | 269,189 | 14.3 | ||
Operating expenses | ||||||||
Selling expenses | (533,479) | (537,782) | (0.8) | (152,818) | (152,747) | 0.0 | ||
General and administrative expenses | (305,305) | (294,656) | 3.6 | (77,807) | (75,531) | 3.0 | ||
Total operating expenses | (838,784) | (832,438) | 0.8 | (230,625) | (228,278) | 1.0 | ||
Operating profit | 175,603 | 172,336 | 1.9 | 77,129 | 40,911 | 88.5 | ||
Other income/(expenses) | ||||||||
Financial income | 28,906 | 31,754 | (9.0) | 10,544 | 7,323 | 44.0 | ||
Financial expenses | (131,346) | (132,039) | (0.5) | (34,995) | (31,889) | 9.7 | ||
Share of results of associated companies, net of tax | 794 | 968 | (18.0) | (267) | 1,204 | n.m. | ||
Share of results of joint ventures, net of tax | 7,101 | 7,827 | (9.3) | 641 | 2,098 | (69.4) | ||
Foreign exchange gain/(loss), net | 47,188 | (91,783) | n.m. | (3,285) | 7,156 | n.m. | ||
Other operating income/ (expenses), net | 46,325 | 10,196 | 354.3 | (17,880) | (9,515) | 87.9 | ||
(1,032) | (173,077) | (99.4) | (45,242) | (23,623) | 91.5 | |||
Exceptional item | (34,296) | - | n.m. | (34,296) | - | n.m. | ||
Profit/(Loss) before tax | 140,275 | (741) | n.m. | (2,409) | 17,288 | n.m. | ||
Tax | 262,544 | 10,746 | n.m. | 47,428 | 2,013 | n.m. | ||
Profit for the year/period | 402,819 | 10,005 | n.m. | 45,019 | 19,301 | 133.2 | ||
Attributable to: | ||||||||
Owners of the Company | 399,619 | 10,352 | n.m. | 46,281 | 19,551 | 136.7 | ||
Non-controlling interests | 3,200 | (347) | n.m. | (1,262) | (250) | 404.8 | ||
402,819 | 10,005 | n.m. | 45,019 | 19,301 | 133.2 | |||
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.
UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2016 | |||||||
Full Year 2016 US$'000 | (Restated) Full Year 2015 US$'000 | 4th Qtr 2016 US$'000 | (Restated) 4th Qtr 2015 US$'000 | ||||
Profit for the year/period | 402,819 | 10,005 | 45,019 | 19,301 | |||
Other comprehensive (loss)/income: | |||||||
Items that may be reclassified subsequently to profit or loss: | |||||||
Foreign currency translation differences on consolidation | (11,108) | (13,565) | (8,879) | (3,079) | |||
Share of other comprehensive gain/(loss) of a joint venture | 434 | (2,212) | (1,145) | 1,335 | |||
Changes in fair value of cash flow hedges | 1,740 | (740) | 247 | 1,020 | |||
Changes in fair value of available-for-sale financial assets | 2,527 | 2,292 | 740 | (4,990) | |||
Equity portion of bonds | - | 2 | - | 154 | |||
(6,407) | (14,223) | (9,037) | (5,560) | ||||
Items that will not be reclassified subsequently to profit or loss: | |||||||
Actuarial (loss)/gain on post-employment benefits | (2,440) | 10,236 | 11,274 | 9,799 | |||
Share of other comprehensive income of a joint venture | 12 | 4 | 12 | - | |||
Other comprehensive (loss)/income, net of tax | (8,835) | (3,983) | 2,249 | 4,239 | |||
Total comprehensive income for the year/period, net of tax | 393,984 | 6,022 | 47,268 | 23,540 | |||
Total comprehensive income/(loss) attributable to: | |||||||
Owners of the Company | 391,358 | 6,919 | 48,697 | 23,861 | |||
Non-controlling interests | 2,626 | (897) | (1,429) | (321) | |||
393,984 | 6,022 | 47,268 | 23,540 | ||||
Full Year 2016 US$'000 | (Restated) Full Year 2015 US$'000 | Change % | 4th Qtr 2016 US$'000 | (Restated) 4th Qtr 2015 US$'000 | Change % | |
Earnings before tax, non- controlling interests, interest on borrowings, depreciation and amortisation, net gain/(loss) from changes in fair value of biological assets and foreign exchange gain/(loss) and exceptional item ("EBITDA") | 571,660 | 541,664 | 5.5 | 178,680 | 140,179 | 27.5 |
Interest on borrowings | (128,893) | (128,600) | 0.2 | (33,766) | (30,732) | 9.9 |
Depreciation and amortisation | (349,175) | (310,748) | 12.4 | (93,062) | (84,756) | 9.8 |
Net gain/(loss) from changes in fair value of biological assets | 33,791 | (11,274) | n.m. | (16,680) | (14,559) | 14.6 |
Foreign exchange gain/(loss), net | 47,188 | (91,783) | n.m. | (3,285) | 7,156 | n.m. |
Exceptional item | (34,296) | - | n.m. | (34,296) | - | n.m. |
Profit/(Loss) before tax | 140,275 | (741) | n.m. | (2,409) | 17,288 | 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.
gar - Golden Agri-Resources Ltd. published this content on 24 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 February 2017 09:33:12 UTC.
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