Singapore Kitchen Equipment : Half Yearly Results

Table of Contents

Page

Condensed Interim Consolidated Statement of Profit or Loss

2

and Other Comprehensive Income

Condensed Interim Consolidated Statement of Financial Position

3

Condensed Interim Consolidated Statement of Cash Flows

4

Condensed Interim Statement of Changes of Equity

5-7

Notes to Condensed Interim Consolidated Financial Statements

8-12

Other information required by Appendix 7C of the Catalist Rules

13-18

The Group

Note

6 months ended

6 months ended

Increase/

30 June 2022

30 June 2021

(Decrease)

$'000

$'000

%

Turnover

4

15,764

12,687

24.3

Cost of sales

(11,068)

(8,498)

30.2

Gross Profit

4,696

4,189

12.1

Other Operating Income

Interest income

4

7

(42.9)

Other income

376

330

13.9

Operating Expenses

Distribution costs

(1,634)

(1,353)

20.8

Administrative expenses

(2,520)

(2,350)

7.2

Other expenses

(16)

(22)

(27.3)

Finance costs

(115)

(126)

(8.7)

Profit before taxation

5

791

675

17.2

Income tax expenses

(166)

(200)

(17.0)

Profit for the reporting period

625

475

31.6

Other Comprehensive Income

Items that may be classified

subsequently to profit and loss

Exchange differences arising from

translation of foreign operations

(7)

0

n.m

Total Comprehensive Income for the

reporting period

618

475

30.1

Profit attributable to :

-Equity Holders of the Company

618

475

30.1

-Non-controlling interests

-

-

Total Comprehensive Income

attributable to:

-Equity Holders of the Company

618

475

30.1

-Non-Controlling Interests

-

-

Earnings Per Share attributable to

equity holders of the company

- Basic (Cents)

6

0.40

0.31

29.0

- Diluted (Cents)

6

0.40

0.31

29.0

The Group

The Company

Note

As at

As at

30 June 2022

31 Dec 2021

30 June 2022

31 Dec 2021

$'000

$'000

$'000

$'000

Non-Current Assets

Property, plant and equipment

7,184

842

3

3

Intangible assets

20

26

-

-

Investment in subsidiaries

-

-

10

10

Rights of Use

872

905

-

-

8,076

1,773

13

13

Current Assets

Inventories

5,074

3,358

-

-

Trade and other receivables

9,312

9,996

2,733

2,781

Prepayments

214

92

7

1

Income tax recoverable

52

61

-

-

Pledged bank deposits

759

1,460

-

-

Cash and cash equivalents

12,351

14,977

945

1,163

27,762

29,944

3,685

3,945

TOTAL ASSETS

35,838

31,717

3,698

3,958

Current Liabilities

Contract liabilities

1,929

3,272

-

-

Trade and other payables

4,949

4,272

154

153

Provisions for others

63

85

-

-

Borrowings

8

2,768

2,511

-

-

Lease liabilities

681

677

-

-

Income tax payable

458

487

-

-

10,848

11,304

154

153

Non-Current Liabilities

Borrowings

8

6,847

2,902

-

-

Lease liabilities

799

785

-

-

Deferred tax liabilities

62

62

-

-

7,708

3,749

0

0

TOTAL LIABILITIES

18,556

15,053

154

153

NET ASSETS

17,282

16,664

3,543

3,805

Equity

Share capital

9

5,125

5,125

5,125

5,125

Other Reserves

1,168

1,175

-

-

Retained Earnings

10,989

10,364

(1,582)

(1,320)

TOTAL EQUITY

17,282

16,664

3,543

3,805

The Group

Note

6 months ended

6 months ended

30 June 2022

30 June 2021

$'000

$'000

Operating Activities

Profit before taxation

5

791

675

Adjustments for:

Depreciation of Property, Plant & Equipment

159

126

Ammortisation for Intangible Assets

13

13

Ammortisation of Right-Of-Use Assets

533

557

Write Back of Inventories

-

(66)

Finance Cost

115

126

Interest Income

(4)

(7)

Modification of Lease Term

8

-

Operating Cash Flows before Working Capital Changes

1,615

1,424

Working Capital Changes:

Inventories

(1,723)

391

Trade & Other Receivables

684

2,153

Prepayments

(123)

53

Contract Liabilities

(1,343)

563

Trade & Other Payables

668

(887)

Cash (Used In)/Generated From Operations

(222)

3,697

Income tax refund

9

-

Income tax paid

(194)

(184)

Net Cash (Used In)/Generated From Operating Activities

(407)

3,513

Investing Activities

Purchases of intangible assets

(7)

(5)

Purchases of property, plant and equipment

(6,516)

(32)

Interest received

4

7

Net Cash Used In Investing Activities

(6,519)

(30)

Financing Activities

Increase in pledged bank deposits

701

-

Proceeds from borrowings

7,588

4,323

Repayment of borrowings

(3,387)

(4,704)

Interest paid

(87)

(126)

Repayment of obligations under lease

(511)

(494)

Net Cash from Financing Activities

4,304

(1,001)

Net (Decrease)/Increase In Cash & Cash Equivalents

(2,622)

2,482

Cash and Cash Equivalents at Beginning of Financial Year

14,977

14,630

Effect of Exchange Rate Changes on Cash and Cash Equivalents

(4)

(2)

Cash & Cash Equivalents at end of financial year

12,351

17,110

Foreign Currency

Equity

Share

Merger

Translation

Retained

attributable to

Non-controlling

Total

Capital

Reserve

Reserve

Earnings

owners of the

Interest

Equity

The Group

Company

(S$'000)

(S$'000)

(S$'000)

(S$'000)

(S$'000)

(S$'000)

(S$'000)

Balance as at

1 January 2022

5,125

1,311

(136)

10,364

16,664

-

16,664

Profit for the financial

year

-

-

-

625

625

-

625

Other comprehensive

income:

Exchange differences on

translating foreign operations

-

-

(7)

-

(7)

-

(7)

Total comprehensive

(loss)/income for the financial

year

-

-

(7)

625

618

-

618

Balance as at

30 June 2022

5,125

1,311

(143)

10,989

17,282

-

17,282