UNITED PLANTATIONS First Quarter Report 2022
UNITED PLANTATIONS BERHAD
(Company Registration No. 191701000045 (240 A))
Jendarata Estate 36009 Teluk Intan Perak Darul Ridzuan Malaysia
Condensed Consolidated Statement of Comprehensive Income for the
Three Months Ended 31 March 2022
(The figures have not been audited)
--------------- Quarter ended 31 March ---------------(RM'000)
Changes 2022 2021 (%)
Revenue | 642,908 | 399,654 | 60.9% |
Operating expenses | (586,730) | (311,783) | 88.2% |
Other operating income | 20,401 | 4,677 | 336.2% |
Finance costs | (46) | (6) | 666.7% |
Interest income | 1,060 | 1,196 | -11.4% |
Share of results of joint venture | (842) | (1,826) | -53.9% |
Profit before taxation | 76,751 | 91,912 | -16.5% |
Income tax expense | (15,141) | (16,202) | -6.5% |
Profit after taxation | 61,610 | 75,710 | -18.6% |
Profit for the period | 61,610 | 75,710 | -18.6% |
Net profit attributable to: | |||
Equity holders of the parent | 59,693 | 74,825 | -20.2% |
Non-controlling interests | 1,917 | 885 | 116.6% |
61,610 | 75,710 | -18.6% | |
Earnings per share | |||
(i) Basic - based on an average 414,784,984 | |||
(2021:414,784,984) ordinary shares (sen) | 14.39 | 18.04 | -20.2% |
(ii) Fully diluted (not applicable) | - | - | - |
The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the accompanying notes and the Annual Audited Financial Statements for the year ended 31 December 2021.
United Plantations Berhad
Condensed Consolidated Statement of Comprehensive Income for the
Three Months Ended 31 March 2022
(The figures have not been audited)
-------------- Quarter ended 31 March --------------
Changes
(RM'000) | 2022 | 2021 | (%) |
Profit for the period | 61,610 | 75,710 | -18.6% |
Other comprehensive income: | |||
Items that will be reclassified subsequently | |||
to profit or loss: | |||
Currency translation differences | |||
arising from consolidation | 1,289 | (796) | 261.9% |
Cash flow hedge | |||
- changes in fair value | (222,263) | (44,586) | 398.5% |
- transfers to profit or loss | 150,076 | 54,877 | 173.5% |
Total Comprehensive (loss)/income | (9,288) | 85,205 | -110.9% |
Total comprehensive (loss)/income attributable to: | |||
Equity holders of the parent | (11,266) | 84,359 | -113.4% |
Non-controlling interests | 1,978 | 846 | 133.8% |
(9,288) | 85,205 | -110.9% |
The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the accompanying notes and the Annual Audited Financial Statements for the year ended 31 December 2021.
United Plantations Berhad l First Quarter Report 2022 l 2/16
Condensed Consolidated Statement of Financial Position as at 31 March 2022
(The figures have not been audited)
31 March | 31 December | |
(RM'000) | 2022 | 2021 |
ASSETS | ||
Non-Current Assets | ||
Property, plant and equipment | 1,211,145 | 1,209,944 |
Right-of-use assets | 395,414 | 395,415 |
Associated company | 50 | 50 |
Joint Venture | 39,359 | 40,201 |
Goodwill | 356,856 | 356,856 |
Other receivables | 5,196 | 5,196 |
Deferred tax assets | 1,774 | 2,705 |
Total non-current assets | 2,009,794 | 2,010,367 |
Current Assets | ||
Biological assets | 65,714 | 48,044 |
Inventories | 254,001 | 139,269 |
Trade & other receivables | 628,327 | 437,386 |
Prepayments | 3,787 | 7,420 |
Tax recoverable | 25,446 | 21,989 |
Derivatives | 36,519 | 10,837 |
Cash and bank balances | 222,523 | 299,662 |
Short term funds | 1,576 | 178,170 |
Total current assets | 1,237,893 | 1,142,777 |
Total assets | 3,247,687 | 3,153,144 |
EQUITY AND LIABILITIES | ||
Equity attributable to equity holders of the parent | ||
Share capital | 390,054 | 390,054 |
Treasury shares | (18,668) | (18,668) |
Other reserves | (174,921) | (103,962) |
Retained profits | 2,467,073 | 2,407,380 |
2,663,538 | 2,674,804 | |
Non-controlling interests | 12,647 | 10,669 |
Total equity | 2,676,185 | 2,685,473 |
Non-Current Liabilities | ||
Deferred tax liabilities | 95,209 | 136,671 |
Retirement benefit obligations | 14,145 | 13,908 |
Derivatives | 82,763 | 22,898 |
Total non-current liabilities | 192,117 | 173,477 |
Current Liabilities | ||
Trade & other payables | 159,553 | 121,556 |
Tax payable | 36,385 | 48,476 |
Retirement benefit obligations | 2,341 | 2,341 |
Derivatives | 181,106 | 121,820 |
Bank borrowings | - | 1 |
Total current liabilities | 379,385 | 294,194 |
Total liabilities | 571,502 | 467,671 |
Total equity and liabilities | 3,247,687 | 3,153,144 |
Net assets per share (RM) | 6.42 | 6.44 |
The Condensed Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes and the Annual Audited Financial Statements for the year ended 31 December 2021.
United Plantations Berhad
Condensed Statement of Changes in Equity for the Three Months Ended 31 March 2022
(The figures have not been audited)Attributable to Equity Holders of the ParentS h a r e C a p it a l
T r e a s u r y s h a r e s
R e t a i n e d p r o fit s
C a s h fl o w h e d g e r e s e r v e
C a p it a l r e s e r v e
T r a n s l a ti o n r e s e r v e
T o t al
N o n - c o n t r o lli n g i n t e r e s t s
T o t a l e q u it y
(RM'000)Balance at
1 January 2022 Total comprehensive
390,054
(18,668)
2,407,380
(109,825) 21,798
income for the period Balance at
- 390,054
-
59,693 2,467,073
(72,187) -(15,935)
2,674,804
10,669 2,685,473
1,228
(11,266)
1,978 (9,288)
31 March 2022
(18,668)
(182,012)
21,798
(14,707)
2,663,538
12,647 2,676,185
Balance at
1 January 2021 Total comprehensive
390,054
(18,668)
2,288,440
(40,476)
21,798
(21,176)
2,619,972
10,931 2,630,903
income for the period Balance at
- 390,054
-
74,825 2,363,265
10,291
- 21,798
(757)
84,359 2,704,331
846 85,205
31 March 2021
(18,668)
(30,185)
(21,933)
11,777 2,716,108
The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes and the Annual Audited Financial Statements for the year ended 31 December 2021.
United Plantations Berhad l First Quarter Report 2022 l 4/16
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United Plantation Berhad published this content on 26 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2022 09:39:09 UTC.
