AMOS : Amended Condensed Interim Financial Statements For The Six Months Ended 30 September 2021

AMOS GROUP LIMITED

(Company Registration Number: 201004068M)

AMENDED CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2021

• CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

		Group		Group
		2nd Half Year	Incr/	6 Months Ended	Incr/
		Ended
		30/09/2021	(decr)	30/09/2021	30/09/2020	(decr)
Note	S$'000	%	S$'000	S$'000	%
Revenue	4	50,904	(17.7)	49,368	57,617	(14.3)
Cost of sales		(42,797)	(20.7)	(38,351)	(46,802)	(18.1)
Gross profit		8,107	2.7	11,017	10,815	1.9
Distribution costs		(4,589)	(16.3)	(4,660)	(4,091)	13.9
Administrative expenses		(11,725)	(10.2)	(11,151)	(10,773)	3.5
Other operating income		1,352	(86.8)	1,302	678	92.0
Other operating expenses		(4,130)	15.2	(1,311)	(4,265)	(69.3)
Finance cost		(780)	(22.5)	(714)	(853)	(16.3)
Loss before income tax	6	(11,765)	137.3	(5,517)	(8,489)	(35.0)
Income tax credit (expense)	7	(370)	NM	46	(44)	NM
Loss for the period		(12,135)	148.0	(5,471)	(8,533)	(35.9)
Other comprehensive income
Items that will not be reclassified to profit or loss:
Revaluation of Property, plant and equipment		-	NM	6,212	-	NM
Items that are or may be reclassified subsequently to profit or loss:
Translation gain arising on consolidation		65	NM	38	208	(81.7)
Other comprehensive income for the		65	NM	6,250	208	NM
period, net of tax
Total comprehensive income for the		(12,070)	134.2	779	(8,325)	NM
period
Loss attributable to:
Owners of the Company		(12,086)	149.7	(5,402)	(8,498)	(36.4)
Non-controlling interests		(50)	(7.4)	(69)	(35)	97.1
		(12,136)	148.0	(5,471)	(8,533)	(35.9)
Total comprehensive income attributable to:
Owners of the Company		(12,022)	135.7	849	(8,287)	NM
Non-controlling interests		(50)	(3.8)	(70)	(38)	84.2
		(12,072)	134.3	779	(8,325)	NM
Gross profit margin		15.9%	24.8	22.3%	18.8%	18.7
Net loss margin		-23.8%	201.4	-11.1%	-14.8%	(25.1)
EBITDA(1) (S$'000)		(3,263)	(25.8)	(396)	786	NM
EBITDA margin		-6.4%	(9.8)	-0.8%	1.4%	NM

1. : Denotes earnings before finance cost, taxes, other operating (expenses) income, provision for inventory adjustment to market price, depreciation and amortisation

NM: Not meaningful

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• CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION

		Group	Company
		30/09/2021	31/03/2021	30/09/2021	31/03/2021
		S$'000	S$'000	S$'000	S$'000
ASSETS	Note
Current assets
Cash and bank balances		14,303	10,137	7,169	229
Trade receivables		23,722	26,405	1,834	2,683
Contract assets		3,266	2,228	1,108	1,095
Other receivables		4,225	4,499	248	296
Income tax receivables		-	40	-	-
Inventories		39,380	41,404	-	-
Total current assets		84,896	84,713	10,359	4,303
Non-current assets
Property, plant and equipment ("PPE")	11	69,388	66,603	43	58
Right of use assets		7,202	7,927	116	8
Intangible assets	10	3,368	3,802	3,368	3,775
Deferred tax assets		20	20	-	-
Subsidiary		-	-	165,832	161,173
Associates		42	42	-	-
Total non-current assets		80,020	78,394	169,359	165,014
Total assets		164,916	163,107	179,718	169,317
LIABILITIES AND EQUITY
Current liabilities
Trade payables		12,184	16,179	-	-
Contract liabilities		1,700	3,351	-	-
Other payables		8,256	10,470	1,652	2,724
Provision		-	408	-	-
Current portion of bank borrowings	12	15,021	30,259	-	-
Current portion of lease liabilities	12	3,248	3,052	1,418	1,497
Income tax payable		38	6	-	-
Total current liabilities		40,447	63,725	3,070	4,221
Non-current liabilities
Bank borrowings	12	13,040	-	-	-
Lease liabilities	12	6,463	8,108	890	1,452
Deferred tax liabilities		-	61	-	-
Total non-current liabilities		19,503	8,169	890	1,452
Total liabilities		59,950	71,894	3,960	5,673
Net assets		104,966	91,213	175,758	163,644

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• CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION (continued)

		Group	Company
		30/09/2021	31/03/2021	30/09/2021	31/03/2021
		S$'000	S$'000	S$'000	S$'000
	Note
Capital, reserves and non-controlling interests
Share capital	13	179,230	166,256	179,230	166,256
Accumulated losses		(81,800)	(76,398)	(3,472)	(2,612)
Translation reserve		953	914	-	-
Other reserve		6,810	598	-	-
Equity attributable to owners of the Company		105,193	91,370	175,758	163,644
Non-controlling interests		(227)	(157)	-	-
Total equity		104,966	91,213	175,758	163,644
Total liabilities and equity		164,916	163,107	179,718	169,317

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• CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS

	Group	Group
	2nd Half Year Ended	6 Months Ended
	30/09/2021	30/09/2020	30/09/2021	30/09/2020
	S$'000	S$'000	S$'000	S$'000
Operating activities
Loss before income tax	(11,766)	(4,957)	(5,517)	(8,489)
Adjustments for :
Interest expense	780	1,007	714	853
Interest income	(13)	(22)	(2)	(8)
Depreciation of property, plant and equipment	3,415	3,691	3,174	3,388
Depreciation - right of use assets	1,132	755	816	1,156
Amortization of intangible assets	397	97	408	291
Impairment of trade receivables	605	1,551	108	489
Doubtful trade receivables recovered	(422)	(39)	(209)	(127)
Trade receivables written off	(6)	253	23	-
Other receivables written off	(1,589)		22	31
(Gain) Loss on disposal of plant and equipment	(31)	42	(196)	2
Impairment of assets held for sales	(7)	109	-	959
Loss on modification of ROU	179	6	9	-
Loss on disposal of club membership			27	-
Trade payables written off	-	-	(579)	-
Net foreign exchange gain- unrealized	279	120	(69)	(48)
Operating cash flows before movements in working capital	(5,840)	(5,498)	(1,271)	(1,503)
Trade receivables	62	921	2,809	4,811
Other receivables and prepayments	2,248	(870)	171	(430)
Contract assets	(1,202)	986	(1,030)	829
Inventories	5,861	(943)	2,091	4,497
Trade payables	(4,131)	2,385	(3,985)	(6,351)
Other payables	3,021	(1,222)	(2,128)	(3,007)
Contract liabilities	2,490	212	(1,639)	(28)
Cash used in operations	2,509	(4,096)	(4,982)	(1,182)
Interest received	13	22	2	8
Income tax paid	(16)	(94)	56	(149)
Net cash used in operating activities	2,506	(4,169)	(4,924)	(1,323)

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• CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS (continued)

	Group	Group
	2nd Half Year Ended	6 Months Ended
	30/09/2021	30/09/2020	30/09/2021	30/09/2020
	S$'000	S$'000	S$'000	S$'000
Investing activities
Proceeds from disposal of plant and equipment	219	130	551	304
Purchase of plant and equipment	(939)	(2,848)	(319)	(936)
Additions to intangible asset	(205)	60	(1)	(56)
Fixed deposits placement	(10)	835	48	10
Net cash generated from (used in) investing activities	1,436	13,058	279	(678)
Financing activities
Interest paid for other borrowings	(796)	(1,021)	(626)	(744)
Repayment of obligations under lease liabilities	(2,112)	(1,066)	(1,426)	(1,080)
New bank loans obtained	-	18,000	1,178	-
Repayment of bank loans	(3,865)	(24,125)	(473)	(1,649)
Proceeds from issue of shares of the Company	-	-	13,149	-
Payment of share issue expenses	-	-	(175)	-
Restricted cash at bank	265	874	11	416
Net cash generated from (used in) financing activities	(6,508)	(7,588)	11,638	(3,057)
Net decrease in cash and cash equivalents	(2,566)	1,301	6,993	(5,058)
Effect of exchange rate changes on cash and cash equivalents	9	81	29	(85)
Cash and cash equivalents at beginning of the period	8,835	12,596	6,278	13,978
Cash and cash equivalents at end of the period	6,278	13,978	13,300	8,835
Cash and cash equivalents comprise the following:
Cash and bank balances	14,303	18,881	14,303	12,805
Fixed deposit	(10)	(58)	(10)	(48)
Restricted cash at bank	(993)	(1,685)	(993)	(1,269)
Bank overdraft	-	(3,160)	-	(2,653)
	13,300	13,978	13,300	8,835

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