Challenger Technologies Limited |
FULL YEAR FINANCIAL STATEMENT |
AND DIVIDEND ANNOUNCEMENT |
FOR THE FINANCIAL YEAR ENDED |
31 DECEMBER 2016 |
Co Reg No: 198400182 K |
CHALLENGER TECHNOLOGIES LIMITED | ||||||||
FULL YEAR FINANCIAL STATEMENT AND DIVIDEND ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2016 | ||||||||
1(a) | A consolidated statement of comprehensive income (for the group) together with a comparative statement for the corresponding | |||||||
period of the immediately preceding financial year | ||||||||
Consolidated Statement of Comprehensive Income | ||||||||
Group | ||||||||
3 months ended | Change | 12 months ended | Change | |||||
31.12.2016 | 31.12.2015 | 31.12.2016 | 31.12.2015 | |||||
$'000 | $'000 | % | $'000 | $'000 | % | |||
Revenue 83 | ,413 | 95,588 | (13) | 339,441 | 352,245 | (4) | ||
Other Items of Income | ||||||||
Interest Income | 101 | 78 | 29 | 505 | 372 | 36 | ||
Other Gains [note (A)] | 365 | 306 | 19 | 1,168 | 1,303 | (10) | ||
Other Items of Expense | ||||||||
Changes in Inventories of Finished Goods (1 | ,232) | (1,783) | (31) | (449) | 3,259 | (114) | ||
Purchase of Goods and Consumables (64 | ,193) | (71,394) | (10) | (268,359) | (282,133) | (5) | ||
Other Consumables Used | (210) | (64) | 228 | (724) | (530) | 37 | ||
Depreciation Expense | (979) | (1,078) | (9) | (4,256) | (4,274) | (0) | ||
Employee Benefits Expense (6 | ,291) | (5,845) | 8 | (25,212) | (23,127) | 9 | ||
Other Expenses [Note (B)] (5 | ,823) | (6,964) | (16) | (24,355) | (25,280) | (4) | ||
Other Losses [Note (A)] (1 | ,448) | (68) | 2,029 | (2,843) | (100) | 2,743 | ||
Profit Before Tax from Continuing Operations 3 | ,703 | 8,776 | (58) | 14,916 | 21,735 | (31) | ||
Income Tax Expense | (646) | (1,277) | (49) | (2,786) | (3,449) | (19) | ||
Profit from Continuing Operations, Net of Tax 3 | ,057 | 7,499 | (59) | 12,130 | 18,286 | (34) | ||
Other Comprehensive Income / (Loss): | ||||||||
Items that May Be Reclassified Subsequently to Profit or Loss: | ||||||||
Exchange Differences on Translating Foreign Operations, | ||||||||
Net of tax | 28 | (164) | (117) | (47) | (375) | (87) | ||
Gain on Available-for-sale Financial Assets, | ||||||||
Reclassified from Equity to Profit or Loss | ||||||||
as a Reclassification Adjustment | - | - | N.M. | 37 | - | N.M. | ||
Available-for-sale Financial Assets, Net of tax | 12 | (118) | (110) | 12 | (118) | (110) | ||
Other Comprehensive Income / (Loss) for the | ||||||||
Period, Net of Tax | 40 | (282) | (114) | 2 | (493) | (100) | ||
Total Comprehensive Income 3 | ,097 | 7,217 | (57) | 12,132 | 17,793 | (32) | ||
Profit Attributable to Owners of the Parent, | ||||||||
Net of Tax 3 | ,017 | 7,648 | (61) | 12,285 | 18,248 | (33) | ||
Profit Attributable to Non-Controlling Interests, | ||||||||
Net of Tax | 40 | (149) | (127) | (155) | 38 | (508) | ||
3,057 | 7,499 | (59) | 12,130 | 18,286 | (34) | |||
Total Comprehensive Income Attributable to | ||||||||
Owners of the Parent 3 | ,057 | 7,366 | (58) | 12,287 | 17,755 | (31) | ||
Total Comprehensive Income Attributable to | ||||||||
Non-Controlling Interests | 40 | (149) | (127) | (155) | 38 | (508) | ||
Total Comprehensive Income 3 | ,097 | 7,217 | (57) | 12,132 | 17,793 | (32) | ||
Note: | ||||||||
Profit before income tax is arrived after charging/ (crediting) the followings: | ||||||||
Note (A) - Other (Losses) / Gains | ||||||||
Foreign exchange adjustment gains | 70 | 146 | (52) | 65 | 447 | (85) | ||
Sundry income | 295 | 153 | 93 | 1,103 | 849 | 30 | ||
Losses on disposal of plant and equipment | (81) | - | N.M. | (300) | (32) | 838 | ||
Losses on disposal of available-for-sale financial assets | - | - | N.M. | (12) | - | N.M. | ||
Provision for impairment on other financial assets (1 | ,139) | - | N.M. | (2,303) | - | N.M. | ||
Inventories written off | (175) | (68) | 157 | (175) | (68) | 157 | ||
Allowance / Reversal for inventories | (53) | 7 | (857) | (53) | 7 | (857) | ||
(1,083) | 238 | (555) | (1,675) | 1,203 | (239) | |||
Presented in profit or loss as: | ||||||||
Other Gains | 365 | 306 | 19 | 1,168 | 1,303 | (10) | ||
Other Losses (1 | ,448) | (68) | 2,029 | (2,843) | (100) | 2,743 | ||
(1,083) | 238 | (555) | (1,675) | 1,203 | (239) | |||
Note (B) - Other Expenses | ||||||||
Rental expenses (3 | ,751) | (4,311) | (13) | (15,723) | (16,928) | (7) | ||
Other operating expenses (1 | ,086) | (1,552) | (30) | (4,650) | (4,432) | 5 | ||
Selling and distribution costs | (986) | (1,101) | (10) | (3,982) | (3,920) | 2 | ||
(5,823) | (6,964) | (16) | (24,355) | (25,280) | (4) | |||
N.M. = not meaningful |
CHALLENGER TECHNOLOGIES LIMITED | |||||
FULL YEAR FINANCIAL STATEMENT AND DIVIDEND ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2016 | |||||
1(b)(i) | A statement of financial position (for the issuer and group), together with a comparative statement as at the end of the | ||||
immediately preceding financial year | |||||
Statement of Financial Position | |||||
Group | Company | ||||
31.12.2016 31 | .12.2015 | 31.12.2016 | 31.12.2015 | ||
$'000 | $'000 | $'000 | $'000 | ||
ASSETS | |||||
Non-Current Assets | |||||
Investment in Associate | - | - | - | - | |
Investments in Subsidiaries | - | - | 8,072 | 5,153 | |
Other Financial Assets | 6,134 | 8,749 | 5,825 | 6,288 | |
Property, Plant and Equipment | 10,547 | 12,834 | 10,382 | 12,482 | |
Total Non-Current Assets | 16,681 | 21,583 | 24,279 | 23,923 | |
Current Assets | |||||
Cash and Cash Equivalents | 52,273 | 41,653 | 41,950 | 33,430 | |
Trade and Other Receivables | 5,772 | 5,780 | 6,602 | 6,555 | |
Other Assets | 5,019 | 4,961 | 4,860 | 4,799 | |
Inventories | 37,160 | 37,662 | 36,837 | 37,597 | |
Total Current Assets | 100,224 | 90,056 | 90,249 | 82,381 | |
Total Assets | 116,905 | 111,639 | 114,528 | 106,304 | |
EQUITY AND LIABILITIES | |||||
Equity attributable to Owners of the Parent | |||||
Share Capital | 18,775 | 18,775 | 18,775 | 18,775 | |
Retained Earnings | 60,567 | 57,430 | 63,876 | 58,028 | |
Other Reserves | (242) | (244) | (71) | (120) | |
Equity, Attributable to Owners of the Parent | 79,100 | 75,961 | 82,580 | 76,683 | |
Non-Controlling Interests | 408 | 704 | - | - | |
Total Equity | 79,508 | 76,665 | 82,580 | 76,683 | |
Non-Current Liabilities | |||||
Deferred Tax Liabilities | 22 | 22 | - | - | |
Provisions | 1,736 | 1,892 | 1,736 | 1,892 | |
Other Liabilities, Non-Current | 2,684 | 2,805 | 1,000 | 992 | |
Total Non-Current Liabilities | 4,442 | 4,719 | 2,736 | 2,884 | |
Current Liabilities | |||||
Trade and Other Payables | 22,221 | 18,344 | 20,380 | 16,968 | |
Income Tax Payable | 3,510 | 3,395 | 3,153 | 3,022 | |
Other Liabilities, Current | 7,224 | 8,516 | 5,679 | 6,747 | |
Total Current Liabilities | 32,955 | 30,255 | 29,212 | 26,737 | |
Total Liabilities | 37,397 | 34,974 | 31,948 | 29,621 | |
Total Equity and Liabilities | 116,905 | 111,639 | 114,528 | 106,304 | |
1(b)(ii) | Aggregate amount of group's borrowings and debt securities | ||||
Amount repayable in one year or less, or on demand | |||||
Nil. | |||||
Amount repayable after one year | |||||
Nil. | |||||
Details of any collateral | |||||
Nil. |
FULL YEAR FINANCIAL STATEMENT AND DIVIDEND ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2016
1(c) A statement of cash flow (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial yearConsolidated Cash Flow Statement
Cash Flows From Operating Activities 3 months ended 12 months ended31.12.2016 31.12.2015 31.12.2016 31.12.2015
$'000 $'000 $'000 $'000
Profit Before Tax 3,703 8,776 14,916 21,735
Adjustments for:
Depreciation of Property, Plant and Equipment 979 1,078 4,256 4,274
Losses on Disposal of Plant and Equipment 81 - 300 32
Allowance for Impairment on Available-for-Sale Financial Assets 1,139 - 2,303 -
Losses on Disposal of Available-for-Sale Financial Assets - - 12 -
Interest Income (101) (78) (505) (372)
Net Effect of Exchange Rate Changes in Consolidating Foreign Operations 28 (164) (47) (375)
Operating Cash Flows Before Working Capital Changes | 5,829 | 9,612 | 21,235 | 25,294 |
Trade and Other Receivables | 983 | 872 | 8 | (76) |
Other Assets | 259 | 314 | (58) | 50 |
Inventories | 1,285 | 1,780 | 502 | (3,182) |
Trade and Other Payables | 4,793 | (4,005) | 3,876 | (11,470) |
Other Liabilities | 15 (2,339) (1,413) (2,171) | |||
Net Cash Flows From Operations | 13,164 6,234 24,150 8,445 | |||
Income Taxes Refund / (Paid) | 330 (421) (2,671) (3,429) | |||
Net Cash Flows From Operating Activities | 13,494 5,813 21,479 5,016 | |||
Cash Flows From Investing Activities Interest Received | 101 | 78 | 505 | 372 |
Increase in Available-for-Sale Financial Assets | - | (2,461) | (152) | (5,216) |
Proceeds from Disposal of Plant and Equipment | 11 | - | 11 | - |
Proceeds from Disposal of Available-for-Sale Financial Assets | - | - | 501 | - |
Purchase of Plant and Equipment (447) (617) (2,416) (3,124)
Net Cash Flows Used in Investing Activities (335) (3,000) (1,551) (7,968)
Cash Flows From Financing Activities | |||
Dividends Paid to Equity Owners | - - | (9,148) | (8,112) |
Dividends Paid to Non-Controlling Interests | - - | (300) | (300) |
Investment in a subsidiary by non-controlling interests | - 396 | 160 | 396 |
Repayment of Finance Lease (18) - (20) -
Net Cash Flows (Used) in / From Financing Activities (18) 396 (9,308) (8,016)
Net Increase / (Decrease) in Cash and Cash Equivalents | 13,141 | 3,209 | 10,620 | (10,968) |
Cash and Cash Equivalents, Consolidated Statement of Cash Flows, Beginning Balanc | 39,132 | 38,444 | 41,653 | 52,621 |
Cash and Cash Equivalents, Consolidated Statement of Cash Flows, |
Ending Balance 52,273 41,653 52,273 41,653
Challenger Technologies Ltd. published this content on 22 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 February 2017 01:07:02 UTC.
Original documenthttp://www.challengerasia.com/2017 Updates/FEB 2017/SGXNET FY2016.pdf
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