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

AMOS GROUP LIMITED

(Company Registration Number: 201004068M)

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

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

	2nd Half Year	Group
	6 Months Ended	Incr/
	Ended
	30/09/2021	30/09/2020	(decr)
	Note	S$'000	S$'000	%
Revenue	4	49,368	57,617	(14.3)
Cost of sales		(39,538)	(46,802)	(15.5)
Gross profit		9,830	10,815	(9.1)
Distribution costs		(4,660)	(4,091)	13.9
Administrative expenses		(11,151)	(10,773)	3.5
Other operating income		1,302	678	92.0
Other operating expenses		(1,311)	(4,265)	(69.3)
Finance cost		(714)	(853)	(16.3)
Loss before income tax	6			(21.0)
(6,704)	(8,489)
Income tax credit (expense)	7	46	(44)	NM
Loss for the period				(22.0)
	(6,658)	(8,533)
Other comprehensive income
Items that will not be reclassified to profit or loss:
Revaluation of Property, plant and equipment		6,212	-	NM
Items that are or may be reclassified subsequently to profit or loss:
Translation gain arising on consolidation		38	208	(81.7)
Other comprehensive income for the
	6,250	208	NM
period, net of tax
Total comprehensive income for the
	(408)	(8,325)	(95.1)
period
Loss attributable to:
Owners of the Company		(6,589)	(8,498)	(22.5)
Non-controlling interests		(69)	(35)	97.1
		(6,658)	(8,533)	(22.0)
Total comprehensive income attributable to:
Owners of the Company		(338)	(8,287)	(95.9)
Non-controlling interests		(70)	(38)	84.2
		(408)	(8,325)	(95.1)
Gross profit margin		19.9%	18.8%	5.9
Net loss margin		-13.5%	-14.8%	(8.9)
EBITDA(1) (S$'000)		(1,583)	786	NM
EBITDA margin		-3.2%	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

1

B	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		3,968	4,499	248	296
	Income tax receivables		-	40	-	-
	Inventories		38,450	41,404		-	-
	Total current assets		83,709	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		163,729	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		103,779	91,213		175,758	163,644

2

B	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
	Capital, reserves and non-controlling interests	Note
	Share capital	13	179,230	166,256	179,230	166,256
	Accumulated losses		(82,987)	(76,398)	(3,472)	(2,612)
	Translation reserve		953	914	-	-
	Other reserve		6,810	598		-	-
	Equity attributable to owners of the Company		104,006	91,370	175,758	163,644
	Non-controlling interests		(227)	(157)		-	-
	Total equity		103,779	91,213	175,758	163,644
	Total liabilities and equity		163,729	163,107	179,718	169,317

3

C	CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS
		Group
		6 Months Ended
		30/09/2021	30/09/2020
		S$'000	S$'000
	Operating activities
	Loss before income tax	(6,704)	(8,489)
	Adjustments for :
	Interest expense	714	853
	Interest income	(2)	(8)
	Depreciation of property, plant and equipment	3,174	3,388
	Depreciation - right of use assets	816	1,156
	Amortization of intangible assets	408	291
	Impairment of trade receivables	108	489
	Doubtful trade receivables recovered	(209)	(127)
	Trade receivables written off	23	-
	Other receivables written off	22	31
	(Gain) Loss on disposal of plant and equipment	(196)	2
	Impairment of assets held for sales	-	959
	Loss on modification of ROU	9	-
	Loss on disposal of club membership	27	-
	Trade payables written off	(579)	-
	Net foreign exchange gain- unrealized	(69)	(48)
	Operating cash flows before movements in working capital	(2,458)	(1,503)
	Trade receivables	2,809	4,811
	Other receivables and prepayments	428	(430)
	Contract assets	(1,030)	829
	Inventories	3,021	4,497
	Trade payables	(3,985)	(6,351)
	Other payables	(2,128)	(3,007)
	Contract liabilities	(1,639)	(28)
	Cash used in operations	(4,982)	(1,182)
	Interest received	2	8
	Income tax paid	56	(149)
	Net cash used in operating activities	(4,924)	(1,323)

4

C	CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS (continued)
		Group
		6 Months Ended
		30/09/2021	30/09/2020
		S$'000	S$'000
	Investing activities
	Proceeds from disposal of plant and equipment	551	304
	Purchase of plant and equipment	(319)	(936)
	Additions to intangible asset	(1)	(56)
	Fixed deposits placement	48	10
	Net cash generated from (used in) investing activities	279	(678)
	Financing activities
	Interest paid for other borrowings	(626)	(744)
	Repayment of obligations under lease liabilities	(1,426)	(1,080)
	New bank loans obtained	1,178	-
	Repayment of bank loans	(473)	(1,649)
	Proceeds from issue of shares of the Company	13,149	-
	Payment of share issue expenses	(175)	-
	Restricted cash at bank	11	416
	Net cash generated from (used in) financing activities	11,638	(3,057)
	Net decrease in cash and cash equivalents	6,993	(5,058)
	Effect of exchange rate changes on cash and cash equivalents	29	(85)
	Cash and cash equivalents at beginning of the period	6,278	13,978
	Cash and cash equivalents at end of the period	13,300	8,835
	Cash and cash equivalents comprise the following:
	Cash and bank balances	14,303	12,805
	Fixed deposit	(10)	(48)
	Restricted cash at bank	(993)	(1,269)
	Bank overdraft	-	(2,653)
		13,300	8,835

5