Your SlideShare is downloading. ×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

BlueLife Limited HY 2014 results

82

Published on

BlueLife Limited HY 2014 results

BlueLife Limited HY 2014 results

Published in: Investor Relations
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
82
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. ABRIDGED STATEMENTS OF FINANCIAL POSITION THE GROUP THE COMPANY Audited as at December 31, 2013 Audited as at June 30, 2013 Audited as at December 31, 2013 Audited as at June 30, 2013 Rs’000 Rs’000 Rs’000 Rs’000 ASSETS Non-current assets 5,237,579 650,872 3,283,733 575,000 Current Assets 1,145,546 4,946 249,237 4,946 Total Assets 6,383,125 655,818 3,532,970 579,946 EQUITY AND LIABILITIES Capital and reserves Owners' interest 3,758,147 655,408 3,029,590 579,536 Non-controlling interests 227,788 - - - Total equity 3,985,935 655,408 3,029,590 579,536 Non-current liabilities 1,159,920 - 142,350 - Current liabilities 1,237,270 410 361,030 410 Total equity and liabilities 6,383,125 655,818 3,532,970 579,946 Share capital Retained earnings/(deficit) Total Rs’000 Rs’000 Rs’000 THE COMPANY Balance at July 1, 2013 580,015 (479) 579,536 Issue of share capital 2,447,283 - 2,447,283 Dividends - - - Profit for the period - 2,771 2,771 Other comprehensive income for the period - - - Balance at December 31, 2013 3,027,298 2,292 3,029,590 Balance at July 1, 2012 5,000 - 5,000 Issue of share capital 575,015 - 575,015 Dividends - - - Loss for the year (479) (479) Balance at June 30, 2013 580,015 (479) 579,536 SEGMENT INFORMATION - THE GROUP December 31, 2013 Land Development Property Hotel Service Total Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Segment assets 4,078,081 873,619 1,428,799 2,626 6,383,125 Segment liabilities 1,164,608 362,526 869,398 658 2,397,190 June 30, 2013 Land Development Property Hotel Service Total Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Segment assets 655,818 - - - 655,818 Segment liabilities 410 - - - 410 BlueLife Limited’s reportable segments are strategic business units that offer different services. The accounting policies of the operating segments are the same as those described in the statutory financial statements of the group for the period ended December 31, 2013 except for the adoption of relevant amendments to published standards, standards and Interpretations issued. No segment information has been provided for profit or loss as BlueLife Limited was an investment holding until December 31, 2013 when it amalgamated with Indian Ocean Real Estate Company Ltd with BlueLife Limited remaining as the amalgamated company. ABRIDGED STATEMENTS OF CHANGES IN EQUITY Attributable to owners of the parent Share capital Other reserves Retained earnings Total Non-controlling interests Total Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 THE GROUP Balance at July 1, 2013 580,015 13,200 62,193 655,408 - 655,408 Issue of share capital 2,447,283 - - 2,447,283 - 2,447,283 Profit for the period - - 629,216 629,216 - 629,216 Non-controlling interests - - - - - - arising on business combinations - - - - 227,788 227,788 Movement in reserves of joint venture - 26,240 - 26,240 - 26,240 Transfer to retained earnings - (39,440) 39,440 - - - Balance at December 31, 2013 3,027,298 - 730,849 3,758,147 227,788 3,985,935 Balance at July 1, 2012 5,000 - (99) 4,901 - 4,901 Issue of share capital 575,015 - - 575,015 - 575,015 Profit for the year - - 62,280 62,280 - 62,280 Movement in reserves of joint venture - 13,200 12 13,212 - 13,212 Balance at June 30, 2013 580,015 13,200 62,193 655,408 - 655,408 ABRIDGED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME THE GROUP THE COMPANY Audited six months to December 31, 2013 Audited year ended June 30, 2013 Audited six months to December 31, 2013 Audited year ended June 30, 2013 Rs’000 Rs’000 Rs’000 Rs’000 Other income - 2,000 6,000 2,000 Operating (loss)/profit (2,505) (314) 3,495 (314) Share of profit of joint venture 23,975 62,759 - - Gain on bargain purchase 23,799 - - - Fair value arising on business combinations 584,671 - - - Profit/(loss) before taxation 629,940 62,445 3,495 (314) Income tax expense (724) (165) (724) (165) Profit /(loss) for the period/year 629,216 62,280 2,771 (479) Other comprehensive income for the period/year net of tax - - - - Total comprehensive income for the period/year 629,216 62,280 2,771 (479) Profit/(loss) attributable to: Owners of the parent 629,216 62,280 2,771 (479) Non-controlling interests - - - - 629,216 62,280 2,771 (479) Total comprehensive income attributable to: Owners of the parent 629,216 62,280 2,771 (479) Non-controlling interests - - - - 629,216 62,280 2,771 (479) Earnings/(loss) per share (Rs/cs) -basic 4.267 0.428 0.019 (0.003) ABRIDGED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME THE GROUP THE COMPANY Audited six months to December 31, 2013 Audited twelve months to June 30, 2013 Audited six months to December 31, 2013 Audited twelve months to June 30, 2013 Rs’000 Rs’000 Rs’000 Rs’000 Continuing operations Basic earnings per share 4.267 0.428 0.019 (0.003) (Rupees & cents) Diluted earnings per share (Rupees & cents) Weighted average number of shares 147,451,024 145,439,639 147,451,024 145,439,639 Net Assets per share 8.836 4.468 7.123 3.951 (Rupees & cents) Number of ordinary shares 425,342,317 146,687,586 425,342,317 146,687,586 ABRIDGED STATEMENTS OF CASH FLOW THE GROUP THE COMPANY Six months to December 31, 2013 Year ended June 30, 2013 Six months to December 31, 2013 Year ended June 30, 2013 Rs’000 Rs’000 Rs’000 Rs’000 Operating activities Net cash used in operating activities (2,511) (2,354) (2,511) (2,354) Investing activities Net cash used in investing activities (349,844) - (124,381) - Decrease in cash and cash equivalents (352,355) (2,354) (126,892) (2,354) Movement in cash and cash equivalents At July 1, 2,646 5,000 2,646 5,000 Decrease (352,355) (2,354) (126,892) (2,354) At December 31, (349,709) 2,646 (124,246) 2,646 NOTES TO THE ABRIDGED AUDITED ANNUAL FINANCIAL STATEMENTS The abridged audited annual financial statements have been prepared in accordance with International Financial Reporting Standards. ACTIVITY Since the amalgamation of BlueLife Limited (the “Company”) with Indian Ocean Real Estate Company Ltd (“IOREC”), which became effective on December 31, 2013, the main activity of the company shifted from a simple investment holding company to holding real estate properties, including the operation of two hotels, and engaging in property development projects. With effect from December 31, 2013, the share capital of the Company was increased from Rs 580,015,338 to Rs 3,027,298,338, following the amalgamation. As a result of the amalgamation, the accounting year end was changed from June 30 to December 31. The goodwill of Rs 280.1 m for the Company and of Rs 510.6 m for the Group arose with respect to the amalgamation. Goodwill is attributable to acquired customer base and economies of scale, as well as synergies expected from combining the operations of the Group. Haute Rive Holdings Limited (“HRHL”), which was a joint venture holding the Azuri project (http://www.azuri.mu/) and sole investment of the Company, became a fully-owned subsidiary as from the date of the amalgamation. The Company ended with a profit of Rs 2.7m, since the amalgamation only became effective on the last day of the financial period. At Group level, the results reflect the share of profits from HRHL for the period as well as exceptional items of Rs 608m relating mainly to the accounting of business combination on amalgamation. The Group is expected to increase its net assets by developing its existing land bank and through the management of new projects for both local and regional markets. By Order of the Board GML Management Ltée Company Secretary March 26, 2014 Copies of the statement of direct and indirect interests of Officers pursuant to Rule 8(2)(m) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007 and of these abridged audited annual financial statements are available, free of charge, upon request made to the Company Secretary, at the registered office of the Company, 4th Floor, IBL House, Caudan Waterfront, Port Louis. The above abridged audited annual financial statements are issued pursuant to Listing 12.14 and the Securities Act 2005. The Board of Directors of BlueLife Limited accepts full responsibility for the accuracy of the information contained in these abridged audited annual financial statements. BLUELIFE LIMITED Business Registration Number: C07050411 ABRIDGED AUDITED ANNUAL FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2013

×