Download - Cresta Marakanelo Limited HY 2016 financial results

GROUP

COMPANY

STATEMENT OF COMPREHENSIVE INCOME Unaudited

Unaudited

Audited

Unaudited

Unaudited

Audited

6 months

6 months

12 months

6 months

6 months

12 months

Jun-16

Jun-15

Dec-15

Jun-16

Jun-15

Dec-15

P'000

P'000

P'000

P'000

P'000

P'000

Revenue 159,939

150,110

319,603

147,975

137,990

296,279

Cost of sales

(102,713)

(96,603)

(190,482)

(93,149)

(86,969)

(178,475)

Gross profit 57,226

53,507

129,121

54,826

51,021

117,804

Other income

-

-

1,065

-

-

-

Other gains/(losses)

25

(4)

39

(25)

(4)

39

Sales and distribution expenses

(3,732)

(4,013)

(7,689)

(3,519)

(3,693)

(7,159)

Administration and operating expenses

(37,164)

(35,381)

(81,448)

(34,744)

(33,019)

(69,830)

Operating profit 16,355

14,109

41,088

16,538

14,305

40,854

Finance income 2,328

993

1,933

1,170

1,517

2,899

Finance expense

(444)

(2,787)

(6,798)

(444)

(637)

(1,152)

Profit before income tax 18,239

12,315

36,223

17,264

15,185

42,601

Income tax expense

(3,943)

(3,507)

(9,462)

(3,943)

(3,345)

(9,462)

Profit for the period 14,296

8,808

26,761

13,321

11,840

33,139

Other comprehensive income:

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

(1,210)

119

2,199

-

-

-

Other comprehensive income/(expense) for the period

(1,210)

119

2,199

-

-

-

Total comprehensive income for the period 13,086

8,927

28,960

13,321

11,840

33,139

Basic and diluted earnings per share (thebe) 7.23

4.93

16.01

7.36

6.54

18.32

{ Ç! Ç9 a 9 b Ç h C FINANCIAL POSITION Dwh Üt

COMPANY

Unaudited

Unaudited

Audited

Unaudited

Unaudited

Audited

Jun-16

Jun-15

Dec-15

Jun-16

Jun-15

Dec-15

P'000

P'000

P'000

P'000

P'000

P'000

ASSETS Non-current assets

Property, plant and equipment 146,704

140,251

142,576

143,563

137,229

139,204

Intangible assets Lease

rights/Trademarks/Software 950

875

781

836

875

781

Goodwill 11,456

12,905

11,335

5,274

5,274

5,274

Investment in subsidiary -

-

-

15,339

7

7

Loan to subsidiary -

-

-

-

13,987

13,300

Deferred income tax assets 2,244

2,827

4,284

2,244

2,827

4,284

Total non-current assets 161,354

156,858

158,976

167,256

160,199

162,850

Currents assets

Inventories 2,856

2,594

2,852

2,571

2,140

2,540

Loan to subsidiary -

-

-

-

2,148

2,258

Trade and other receivables 21,782

21,328

20,959

21,213

20,168

20,216

Current income tax assets 3,207

2,459

479

3,146

2,448

470

Cash and cash equivalents 58,862

49,204

61,835

57,978

48,129

61,064

Total current assets 86,707

75,585

86,125

84,908

75,033

86,548

Total assets 248,061

232,443

245,101

252,164

235,232

249,398

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)

(2,105)

(2,105)

Foreign currency translation reserve

1,021

151

2,231

-

-

-

Retained earnings 149,563

130,238

148,191

156,018

134,322

155,621

Total equity 163,169

142,974

163,007

172,413

150,717

172,016

LIABILITIES Non-current liabilities

Deferred lease obligation 29,429

30,244

30,589

27,784

28,935

29,209

Borrowings 10,679

15,055

12,856

10,679

15,055

12,856

Total non-current liabilities 40,108

45,299

43,445

38,463

43,990

42,065

Current liabilities

Trade and other payables 35,197

35,821

31,276

31,764

32,625

28,134

Current income tax liabilities -

44

-

-

17

-

Borrowings 4,989

5,023

4,277

4,989

5,023

4,277

Deferred revenue 1,822

1,423

1,615

1,822

1,423

1,615

Deferred lease obligation 2,776

1,859

1,481

2,713

1,437

1,291

Total current liabilities 44,784

44,170

38,649

41,288

40,525

35,317

Total liabilities 84,892

89,469

82,094

79,751

84,515

77,382

Total equity and liabilities 248,061

232,443

245,101

252,164

235,232

249,398

STATEMENT OF CHANGES IN 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 2015

Balance at 1 January 2015

18,500

(5,915)

32

132,508

145,125

Profit for the period

-

-

-

26,761

26,761

Other comprehensive income for the year

-

-

2,199

-

2,199

Total comprehensive income for the year

-

-

2,199

26,761

28,960

Transaction with owners of the company:

Gross dividends paid

-

-

-

(11,078)

(11,078)

-

-

-

(11,078)

(11,078)

Balance at 31 December 2015

18,500

(5,915)

2,231

148,191

163,007

Period ended 30 June 2016


18,500

(5,915)

2,231

148,191

163,007


-

-

-

14,296

14,296

Other comprehensive income for the period

-

-

(1,210)

-

(1,210)

Total comprehensive income for the period

-

-

(1,210)

14,296

13,086



-

-

-

(12,924)

(12,924)

-

-

-

(12,924)

(12,924)

Balance at 30 June 2016

18,500

(5,915)

1,021

149,563

163,169

COMPANY Year ended 31 December 2015


18,500

(550)

-

133,560

151,510

Profit for the year

-

-

-

33,139

33,139

Other comprehensive income for the year

-

-

-

-

-

Total comprehensive income for the year

-

-

-

33,139

33,139



-

-

-

(11,078)

(11,078)

Acquisition of treasury shares

-

(1,555)

-

(1,555)

-

(1,555)

-

(11,078)

(12,633)

Balance at 31 December 2015

18,500

(2,105)

-

155,621

172,016

Period ended 30 June 2016


18,500

(2,105)

-

155,621

172,016


-

-

-

13,321

13,321

Other comprehensive income for the period

-

-

-

-

-

Total comprehensive income for the period

-

-

-

13,321

13,321



-

-

-

(12,924)

(12,924)

-

-

-

(12,924)

(12,924)

Balance at 30 June 2016

18,500

(2,105)

-

156,018

172,413

GROUP

COMPANY

STATEMENT OF CASHFLOWS Unaudited

Unaudited

Audited

Unaudited

Unaudited

Audited

6 months

6 months

12 months

6 months

6 months

12 months

Jun-16

Jun-15

Dec-15

Jun-16

Jun-15

Dec-15

P'000

P'000

P'000

P'000

P'000

P'000

Cash flows from operating activities

Cash generated from operations 30,803

30,659

67,730

29,907

30,502

65,508

Interest paid

(444)

(637)

(1,152)

(444)

(637)

(1,152)

Tax paid

(4,410)

(5,741)

(11,299)

(4,410)

(5,741)

(11,299)

Net cash generated from operating activities 25,949

24,281

55,279

25,053

24,124

53,057

Cash flows from investing activities

Purchase of property, plant and equipment

(14,935)

(9,420)

(25,910)

(14,747)

(9,048)

(23,958)

Purchase of computer software

(410)

(305)

(406)

(277)

(305)

(406)

Proceeds on disposal of plant and equipment

75

16

70

17

16

70

Loan repayments received from Employee Share Trust

-

-

-

-

103

102

Loan repayments received from subsidiary

-

-

-

226

751

1,328

Interest received 876

993

1,934

1,031

1,233

2,615

Net cash utilised in investing activities

(14,394)

(8,716)

(24,312)

(13,750)

(7,250)

(20,249)

Cash flows from financing activities

Repayment of borrowings

(2,061)

(1,813)

(3,857)

(2,061)

(1,813)

(3,857)

Dividends paid to company's shareholders

(12,924)

(11,078)

(11,078)

(12,924)

(11,078)

(11,078)

Net cash utilised in financing activities

(14,985)

(12,891)

(14,935)

(14,985)

(12,891)

(14,935)

Net (decrease)/increase in cash and cash equivalents

(3,430)

2,674

16,032

(3,682)

3,983

17,873

Cash and cash equivalents at beginning of year 61,735

45,801

45,801

60,964

43,091

43,091

Exchange loss on cash and cash equivalents

(139)

(326)

(98)

-

-

-

Cash and cash equivalents at end of year 58,166

48,149

61,735

57,282

47,074

60,964

Disclosed as follows;

Cash at bank

58,862

49,204

61,835

57,978

48,129

61,064

Bank overdraft

(696)

(1,055)

(100)

(696)

(1,055)

(100)

58,166

48,149

61,735

57,282

47,074

60,964

CLb ! b / L! [ I LDI [ LDI Ç{

WΡŧ ś 2016 WΡŧ ś �� % change

P’000 P’000

Profit before tax

18,239 12,315 48%

Total comprehensive income 13,086 8,927 47%

Operating profit

16,355 14,109 16%

Revenues

159,939 150,110 7%

Total Assets

248,061 232,443 7%

Cash and cash equivalents 58,862 49,204 20%

Earnings per Share(thebe)

7.23 4.93 47%

GROUP