Report of the directors 3 - 4
Statement of directors 5
Independent auditors' review report 6 - 8
Condensed consolidated interim statement of financial position 9 - 10
Condensed consolidated interim statement of comprehensive income 11 - 12
Condensed consolidated interim statement of changes in equity 13
Condensed consolidated interim statement of cash flows 14 - 15
Notes to the condensed consolidated interim financial statements 16 - 30
Supplementary appendix 4D information 31
Percentage change |
Amount | |||
% |
US$'000 | |||
Revenue from ordinary activities |
Up |
20 |
To |
9,746 |
Loss from ordinary activities after tax attributable to members |
Down |
71 |
To |
(191) |
Net loss for the period attributable to members (30 June 2012: including profit on discontinued operations of US$4,557,000) |
Up |
105 |
To |
(191) |
The introduction of GensupenTM (an insulin injection syringe patented by our ultimate holding company) and pentips, have boosted the Group's product portfolio, accounting for a major part of the increased revenue in Thailand. Overall, medical devices (GensupenTM and pentips) expanded by 278% from the corresponding period of preceding year.
The Group remains committed on sales of core products of recombinant human insulin (SciLinTM) and human growth hormones (SciTropin ATM and OmnitropeTM), where combined revenue of both products for the six- month period expanded at a rate of 10%.
Profit sharing income from our ultimate holding company further enhanced revenue by US$588,000 for the period, driven by a surge in sales of insulin to their partners in China and India. The unprecedented quantum of profit sharing income for first six-months is comparable to entire year of 2012 and is anticipated to exceed US$1 million this year as sales to China and India remain robust.
1
In the preceding year, the gain from disposal of a subsidiary in Israel, SciGen (I.L.) Ltd including the operating income and expenses for the period was classified as discontinued operations at US$4,557,000. Without such gain in the current period, results attributable to members decreased from a net profit of US$3,898,000 in previous year to a net loss of US$191,000.
been paid, declared or proposed since the end of the Company's preceding financial year.
2
1 DIRECTORS
The directors of the Company in office at the date of this report are: Mr. Slawomir Ziegert
Mr. Adam Tomasz Polonek
Ms. Jenny Low
Mr. Mateusz Patryk Kosecki
Mr. Kenneth Gross
Mr. Adam Wilczega
Ms. Joanna Szymanska-Bulska
Mr. Marcin Dukaczewski
Mr. Amol Jashvant Shah
2 REVIEW OF OPERATIONS
A summary of consolidated revenues and results for the six months by significant geographical segments is set out below:
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