Download - Cresta Marakanelo Limited HY 2015 financial results

GROUP

COMPANY

STATEMENT OF COMPREHENSIVEINCOME Unaudited

Unaudited

Audited

Unaudited

Unaudited

Audited

6 months

6 months

12 months

6 months

6 months

12 months

Jun-15

Jun-14

Dec-14

Jun-15

Jun-14

Dec-14

P'000

P'000

P'000

P'000

P'000

P'000

Revenue 150,110

139,793

303,195

137,990

130,475

279,465

Cost of sales (96,603)

(87,805)

(177,520)

(86,969)

(82,766)

(165,635)

Gross profit 53,507

51,988

125,675

51,021

47,709

113,830

Other income

-

709

1,514

-

-

427

Other (losses)/gain-net (4)

(62)

27

(4)

-

27

Sales and distribution expenses (4,013)

(4,765)

(9,239)

(3,693)

(4,493)

(8,571)

Administration and operating expenses (35,381)

(37,249)

(83,119)

(33,019)

(31,448)

(69,259)

Operating profit 14,109

10,621

34,858

14,305

11,768

36,454

Finance income 993

199

614

1,517

1,080

2,424

Finance expense (2,787)

(3,271)

(3,170)

(637)

(1,039)

(1,774)

Profit before income tax 12,315

7,549

32,302

15,185

11,809

37,104

Income tax expense (3,507)

(2,555)

(8,246)

(3,345)

(2,555)

(8,247)

Profit for the year 8,808

4,994

24,056

11,840

9,254

28,857

Other comprehensive income:

Currency translation differences (subject to subsequent recycling through profit or loss) 119

63

40

-

-

-

Other comprehensive income/(expense) for the year 119

63

40

-

-

-

Total comprehensive income for the year 8,927

5,057

24,096

11,840

9,254

28,857

Basic and diluted earnings per share (thebe)

4.93

2.79

13.32

6.54

5.01

15.63

STATEMENT OF CASH FLOWS GROUP

COMPANY

Unaudited

Unaudited

Audited

Unaudited

Unaudited

Audited

6 months

6 months

12 months

6 months

6 months

12 months

Jun-15

Jun-14

Dec-14

Jun-15

Jun-14

Dec-14

P'000

P'000

Jan-15

P'000

P'000

P'000

Cash flows from operating activities Cash generated from operations 30,659

28,142

71,570

30,502

28,225

69,874

Interest paid (637)

(1,039)

(1,774)

(637)

(1,039)

(1,774)

Tax paid (5,741)

(4,329)

(8,580)

(5,741)

(4,329)

(8,580)

Net cash generated from operating activities 24,281

22,774

61,216

24,124

22,857 59,520

Cash flows from investing activities

Purchase of property, plant and equipment (9,420)

(12,450)

(19,233)

(9,048)

(12,047)

(18,383)

Purchase of computer software (305)

139

(788)

(305)

139

(788)

Proceeds on disposal of plant and equipment 16

-

137

16

86

137 Loan repayments received from Employee Share Trust

-

-

-

103

911

85

Loan (provided to)/repayments received from subsidiary

-

199

-

751

784

(132)

Interest received (excluding capitalised portion of Employee Share Trust) 993

-

590

1,233

-

1,822

Net cash utilised in investing activities (8,716)

(12,112)

(19,294)

(7,250)

(10,127) (17,259)

Cash flows from financing activities

Repayment of borrowings (1,813)

(3,363)

(7,166)

(1,813)

(3,363)

(7,166)

Dividends paid to company's shareholders (11,078)

(9,060)

(9,060)

(11,078)

(9,232)

(9,232)

Net cash utilised in financing activities (12,891)

(12,423)

(16,226)

(12,891) (12,595) (16,398)

Net increase in cash and cash equivalents 2,674

(1,761)

25,696

3,983

135

25,863

Cash and cash equivalents at beginning of year 45,801

20,312

20,312

43,091

17,228

17,228

Exchange (loss)/gain on cash and cash equivalents (326)

(331)

(207)

-

-

-

Changes in cash and cash equivalents 2,674

(1,761)

25,696

3,983

135

25,863 Cash and cash equivalents at end of year 48,149

18,220

45,801

47,074

17,363 43,091

Disclosed as follows;

Cash at bank

49,204

20,178

45,801

48,129

19,322

43,091

Bank overdraft

(1,055)

(1,958)

-

(1,055)

(1,959)

-

48,149

18,220

45,801

47,074

17,363

43,091

{ Ç! Ç9 a 9 b Ç h C / I ! b D9 { Lb EQUITY

Ordinary shares

Treasury Shares

Foreign currency

translation reserve

Retained earnings

Total equity

P'000

P'000

P'000

P'000

P'000

GROUP Year ended 31 December 2014

Balance at 1 January 2014

18,500

(5,915)

(8)

117,512

130,089

Total comprehensive income for the year

-

-

40

24,056

24,096

Gross dividends paid

-

-

-

(9,060)

(9,060)

Balance at 31 December 2014

18,500

(5,915)

32

132,508

145,125

Period ended 30 June 2015


18,500

(5,915)

32

132,508

145,125

Total comprehensive income for the period

-

-

119

8,808

8,927


-

-

-

(11,078)

(11,078)

Balance at 30 June 2015

18,500

(5,915)

151

130,238

142,974

COMPANY Year ended 31 December 2014


18,500

(550)

-

113,935

131,885

Total comprehensive income for the year

-

-

-

28,857

28,857


-

-

-

(9,232)

(9,232)

Balance at 31 December 2014

18,500

(550)

-

133,560

151,510

Period ended 30 June 2015


18,500

(550)

-

133,560

151,510

Purchase of treasury shares -

(1,555)

-

-

(1,555)

Total comprehensive income for the period

-

-

-

11,840

11,840


-

-

-

(11,078)

(11,078)

Balance at 30 June 2015

18,500

(2,105)

-

134,322

150,717

CLb ! b / L! [ I LDI [ LDI Ç{

WΡŧ -15 WΡŧ -14

% change

Profit before tax (P'000) 12,315 7,549

63%

Profit after tax (P'000) 8,808 4,994

76% Revenue (P'000) 150,110 139,793

7%

Earnings per share (thebe) 4.9 2.8

77%

Total Assets (P'000)

232,443

213,653

9%

Cash and Cash equivalents(P’000)

49,204

20,178

144%

STATEMENT OF FINANCIAL POSITION

GROUP

COMPANY

Unaudited

Unaudited

Audited

Unaudited

Unaudited

Audited

Jun-15

Jun-14

Dec-14

Jun-15

Jun-14

Dec-14

ASSETS

P'000

P'000

P'000

P'000

P'000

P'000

Non-current assets

Property, plant and equipment

140,251

148,693

143,581

137,229

143,765

138,969

Intangible assets

Lease

rights/Trade marks/Software

875

192

748

875

192

748

Goodwill

12,905

13,948

13,878

5,274

5,274

5,274

Investment in subsidiary

-

-

-

7

7

7

Loan to subsidiary

-

-

-

13,987

13,942

14,948

Loan receivable-Cresta Employee Staff Plan

-

-

-

-

1,338

1,373

Deferred income tax assets

2,827

4,768

4,216

2,827

4,785

4,216

Total non-current assets

156,858

167,601

162,423

160,199

169,303

165,535

Currents assets

Inventories

2,594

2,507

2,919

2,140

2,066

2,411

Loan to subsidiary

-

-

-

2,148

1,901

1,938

Trade and other receivables

21,328

23,355

18,015

20,168

23,216

17,529

Current income tax assets

2,459

12

11

2,448

-

-

Cash and cash equivalents

49,204

20,178

45,801

48,129

19,322

43,091

Total current assets

75,585

46,052

66,746

75,033

46,505

64,969

Total assets

232,443

213,653

229,169

235,232

215,808

230,504

-

EQUITY

Capital and reserves

Stated capital

18,500

18,500

18,500

18,500

18,500

18,500

Treasury Shares

(5,915)

(5,915)

(5,915)

(2,105)

(550)

(550)

Foreign currency translation reserve

151

55

32

-

-

-

Retained earnings

130,238

113,443

132,508

134,322

113,954

133,560

Total equity

142,974

126,083

145,125

150,717

131,904

151,510

LIABILITIES

Non-current liabilities

Deferred lease obligation

32,103

28,596

30,831

30,372

27,119

29,058

Borrowings

15,055

15,235

17,227

15,055

15,235

17,227

Total non-current liabilities

47,158

43,831

48,058

45,427

42,354

46,285

Current liabilities

Trade and other payables

35,821

31,789

29,699

32,625

29,600

26,423

Current income tax liabilities

44

531

1,297

17

531

1,297

Borrowings

5,023

11,419

3,663

5,023

11,419

3,663

Deferred revenue

1,423

-

1,327

1,423

-

1,326

Total current liabilities

42,311

43,739

35,986

39,088

41,550

32,709

Total liabilities

89,469

87,570

84,044

84,515

83,904

78,994

Total equity and liabilities 232,443 213,653 229,169 235,232 215,808 230,504