Gallant Venture : Financial Statements And Related Announcement - Full Yearly Results

Contents

Page

Financial Statements

(a)

Condensed interim consolidated statement of profit or loss

3

(b)

Condensed interim consolidated statement of comprehensive income

4

(c)

Condensed interim consolidated statement of financial position

6

(d)

Condensed interim consolidated statement of changes in equity

7

(e)

Condensed interim consolidated statement of cash flows

10

(f)

Notes to the condensed interim consolidated financial statements

12

Other information

(g)

Review of financial statements

37

(h)

Review of performance of the Group

37

(i)

Review of performance of the Group - Turnover and earnings for segments

39

(j)

Where a forecast, or a prospect statement, has been previously disclosed to shareholders,

39

any variance between it and the actual results

(k)

A commentary at the date of the announcement of the significant trends and competitive

39

conditions of the industry in which the group operates and any know factors or events that

may affect the group in the next reporting period and the next 12 months

(l)

Interested person transactions

40

(m)

Confirmation that the issuer has procured undertakings from all its directors and executive

40

officers

(n)

A breakdown of the total annual dividends (in dollar value) for the issuer's latest full year and

40

its previous year as follows: - (a) Ordinary, (b) Preference, and (c) Total

(o)

Disclosure of persons occupying managerial positions who are related to a director, CEO or

40

substantial shareholder

The Group

6 months

6 months

12 months

12 months

Ended 31

Ended 31

ended 31

ended 31

Note

December

December

Incr/

December

December

Incr/

2021

2020

(Decr)

2021

2020

(Decr)

$'000

$'000

%

$'000

$'000

%

Continuing operations

72,552

145,111

Revenue

5

66,671

9

138,199

5

Cost of sales

(57,774)

(55,254)

5

(111,300)

(113,770)

(2)

Gross profit

14,778

11,417

29

33,811

24,429

38

Other income/(expenses)

2,763

10,461

(74)

(827)

10,532

n.m

General and administrative

(7,948)

(15,597)

expenses

(8,734)

(9)

(18,245)

(15)

Other operating expenses

(14,273)

(12,358)

15

(25,749)

(24,251)

6

Share of associate companies'

(11,043)

(18,684)

results

(19,402)

(43)

(19,641)

(5)

Finance costs

(11,232)

(10,593)

6

(19,774)

(21,934)

(10)

Loss from continuing

operations, before tax

(26,955)

(29,209)

(8)

(46,820)

(49,110)

(5)

Taxation

6(b)

(6,878)

(6,819)

1

(13,682)

(12,816)

7

Loss from continuing

(33,833)

(60,502)

operations, net of tax

6(a)

(36,028)

(6)

(61,926)

(2)

Loss from discontinued

-

-

operations, net of tax

-

-

(642,735)

n.m

Loss for the period

(33,833)

(36,028)

(6)

(60,502)

(704,661)

(91)

Attributable to:

Equity holders of the Company

- Loss from continuing

(32,270)

(57,521)

operations, net of tax

(34,315)

(6)

(59,057)

(3)

- Loss from discontinued

-

-

operation, net of tax

-

-

(628,389)

n.m

Non-controlling

(32,270)

(34,315)

(6)

(57,521)

(687,446)

(92)

- Loss from continuing

(1,563)

(2,981)

operations, net of tax

(1,713)

(9)

(2,869)

4

- Loss from discontinued

-

-

operation, net of tax

-

-

(14,346)

n.m

Loss for the period

(1,563)

(1,713)

(9)

(2,981)

(17,215)

(83)

(33,833)

(36,028)

(6)

(60,502)

(704,661)

(91)

Loss per share

7

Cents

Cents

Cents

Cents

From continuing and

discontinued operations

0.593

1.057

-

Basic

0.633

12.672

-

Diluted

0.593

0.633

1.057

12.672

From continuing operations

0.593

1.057

-

Basic

0.633

1.089

-

Diluted

0.593

0.633

1.057

1.089

From discontinued operation

-

-

-

Basic

-

11.584

-

Diluted

-

-

-

11.584

The Group

6 months

6 months

12 months

12 months

ended 31

ended 31

ended 31

ended 31

Note

December

December

Incr/

December

December

Incr/

2021

2020

(Decr)

2021

2020

(Decr)

$'000

$'000

%

$'000

$'000

%

Loss for the period

(33,833)

(36,028)

(6)

(60,502)

(704,661)

(91)

Other comprehensive (loss)/

income after taxation:

Items that are/may be

reclassified subsequently to

profit or loss

Change in fair value of cash

-

-

flow hedges, net of tax

-

-

(6,712)

n.m

Currency translation

differences from foreign

(9)

(67)

subsidiaries

73

n.m

(8,001)

(99)

Realisation of reserves upon

-

-

deconsolidation of subsidiaries

-

-

32,514

n.m

Share of other comprehensive

loss of associates

- Currency translation

15,130

7,052

differences

(14,734)

n.m

(8,703)

n.m

- Fair value of cash flow

(3,992)

6,321

hedges

(10,355)

(61)

(6,956)

n.m

Items that will not be

reclassified subsequently to

profit or loss

Remeasurements of

defined

528

528

benefit plans

491

8

485

8

Share of other comprehensive

income of associates

- Change in fair value on

equity instruments at fair

value through other

29,452

-

24,896

comprehensive income

n.m

-

n.m

- Remeasurements of defined

1,536

(1,559)

benefit plans

405

279

114

n.m

Other comprehensive

income/

(loss) for the period after

42,645

37,171

n.m

taxation

(24,120)

n.m

2,741

Total comprehensive income/

(70)

(loss) for the period

8,812

(60,148)

n.m

(23,331)

(701,920)

The Group

6 months

6 months

12 months

12 months

ended 31

ended 31

ended 31

ended 31

Note

December

December

Incr/

December

December

Incr/

2021

2020

(Decr)

2021

2020

(Decr)

$'000

$'000

%

$'000

$'000

%

Total comprehensive income/

(loss) attributable to:

Equity holders of the Company

- Total comprehensive income/

(loss) from continuing

10,356

(20,367)

operations, net of tax

(58,395)

n.m

(73,911)

(72)

- Total comprehensive income/

(loss) from discontinued

-

-

operations, net of tax

-

-

(361,447)

n.m

Non-controlling interests

10,356

(58,395)

n.m

(20,367)

(435,358)

(70)

- Total comprehensive loss

from continuing operations,

(1,544)

(2,964)

net of tax

(1,753)

(12)

(2,907)

2

- Total comprehensive loss

from discontinued operation,

-

-

net of tax

-

-

(263,655)

n.m

(1,544)

(1,753)

(12)

(2,964)

(266,562)

(99)

8,812

(60,148)

n.m

(23,331)

(701,920)

(96)