Innodis Ltd Group HY 2014 financial results #Mauritius

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Innodis Ltd Group HY 2014 financial results #Mauritius

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Innodis Ltd Group HY 2014 financial results #Mauritius

  1. 1. L ’ E X I G E N C E Q U A L I T É INNODIS LTD GROUP CONDENSED UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2013 COMMENTS CONDENSED STATEMENTS OF CHANGES IN EQUITY Group turnover for the half year ended 31 December 2013 reached Rs2.28 billion, representing an increase of 4.9% over the corresponding period in 2012 (Rs2.17 billion). Inspite of the competitive environment, end-of-year sales were satisfactory. We had a positive response for our DairyVale probiotic yoghurt, re-launched with a new packaging in November 2013. The new products introduced during the last quarter also performed well. Investment in modern equipment and the streamlining of our operational structure also enabled us to achieve gains in productivity in our manufacturing operations. Our positive results have mitigated the temporary loss in revenue of Moçambique Farms Limitada, due to the planned reduction in the production of chicken during the modernisation of our farms. The upgrading exercise was completed in December 2013, and our broiler farm houses are now operating at current full capacity. We are now proceeding with the next phase of our expansion programme. Earnings per share (EPS) for the 6 months stood at Rs2.48 as compared to Rs2.18 in 2012. An interim dividend of Rs0.85 per share was declared in December 2013 and payable on 14 February 2014. By order of the Board a Box Office Ltd Corporate Secretary 12th Feb 2014 Copies of this report are available free of charge at the registered office of the Company. The statement of direct and indirect interests of insiders pursuant to rule 8 (2)(m) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007 is available free of charge, at the registered office of Innodis Ltd. This report is pursuant to Listing Rule 12.20 and Securities Act 2005. The Board of Directors of Innodis Ltd accepts full responsibility for the accuracy of the information contained in this communiqué. At 01 Jul 2012 Total comprehensive income for the year Dividend Revaluation reserve released Changes in ownership interest: Acquisition of subsidiary with non-controlling interest Disposal of subsidiary with non-controlling interest At 30 Jun 2013 Total comprehensive income for the period Dividend Revaluation reserve realised At 31 Dec 2013 GROUP At 01 Jul 2012 Total comprehensive income for the year Dividend Revaluation reserve realised At 30 Jun 2013 Total comprehensive income for the period Revaluation reserve realised Dividend At 31 Dec 2013 COMPANY CONDENSED STATEMENTS OF PROFIT OR LOSS Revenue Profit from operating activities Net finance expense Share of profit of equity accounted investees Share of tax of equity accounted investees Profit before income tax Income tax expense Profit for the period/year Profit attributable to: Owners of the company Non-controlling interests Number of shares Earnings per share (Rs) 2,275,835 152,893 (27,987) 170 (26) 125,050 (24,779) 100,271 91,072 9,199 100,271 36,730,266 2.48 2,169,161 150,971 (23,960) 112 (19) 127,104 (22,054) 105,050 80,014 25,036 105,050 36,730,266 2.18 4,155,701 275,452 (27,511) 615 (55) 248,501 (48,638) 199,863 162,607 37,256 199,863 a a 36,730,266 4.43 1,490,247 120,733 (23,527) - - 97,206 (16,525) 80,680 80,680 - 80,680 GROUP Year Ended 30 Jun 13 Audited Rs’000 GROUP Half Year Ended 31 Dec 12 Unaudited Rs’000 GROUP Half Year Ended 31 Dec 13 Unaudited Rs’000 1,437,691 108,144 (21,059) - - 87,085 (14,804) 72,281 72,281 - 72,281 COMPANY Half Year Ended 31 Dec 12 Unaudited Rs’000 COMPANY Half Year Ended 31 Dec 13 Unaudited Rs’000 2,805,965 226,160 (39,226) - - aa 186,934 (32,297) 154,637 154,637 - 154,637 COMPANY Year Ended 30 Jun 13 Audited Rs’000 1,233,486 81,882 (17,013) 85 (13) 64,941 (14,239) 50,702 1,197,118 77,823 (15,441) 29 (5) 62,406 (11,845) 50,561 GROUP Quarter Ended 31 Dec 13 Unaudited Rs’000 802,649 72,722 (16,397) - - 56,325 (9,575) 46,750 COMPANY Quarter Ended 31 Dec 13 Unaudited Rs’000 GROUP Quarter Ended 31 Dec 12 Unaudited Rs’000 800,304 62,853 (13,779) - - aa 49,074 (8,176) 40,898 COMPANY Quarter Ended 31 Dec 12 Unaudited Rs’000 CONDENSED STATEMENTS OF CASH FLOWS Net cash from/(used in) operating activities Net cash from/(used in) investing activities Net cash from/(used in) financing activities Net increase/(decrease) in cash and cash equivalents Effects of exchange rate change on cash and cash equivalents Cash and cash equivalents at beginning of period/year Cash and cash equivalents at end of period/year 25,450 2,192 27,629 55,271 (252) (248,718) (193,699) 181,499 (172,000) (40,874) (31,375) 208 (217,551) (248,718) (83,576) (27,326) 26,060 (84,842) 216 (217,551) (302,177) (12,334) 18,549 85,003 91,218 - (331,801) (240,583) GROUP Year Ended 30 Jun 13 Audited Rs’000 GROUP Half Year Ended 31 Dec 12 Unaudited Rs’000 GROUP Half Year Ended 31 Dec 13 Unaudited Rs’000 COMPANY Half Year Ended 31 Dec 13 Unaudited Rs’000 (103,536) (26,646) 33,598 (96,584) - (267,095) (363,679) COMPANY Half Year Ended 31 Dec 12 Unaudited Rs’000 50,774 (45,889) (69,591) (64,706) - (267,095) (331,801) COMPANY Year Ended 30 Jun 13 Audited Rs’000 CONDENSED STATEMENTS OF COMPREHENSIVE INCOME Profit for the period/year Other comprehensive income Items that will never be classified to profit or loss Revaluation of property, plant & equipment Deferred tax arising on revaluation reserve Actuarial gain on unfunded retirement obligation Items that are or may be reclassified to profit or loss Foreign currency translation difference Other comprehensive income for the period/year Total comprehensive income for the period/year Total comprehensive income for the period/year: Owners of the company Non-controlling interests 100,271 - (918) - (918) 745 (173) 100,098 90,775 9,323 100,098 199,863 230,699 (8,613) 2,475 224,561 28,073 252,634 452,497 417,315 35,182 452,497 105,050 - (413) - (413) 12,373 11,960 117,010 91,974 25,036 117,010 80,680 - (410) - (410) - (410) 80,270 80,270 - 80,270 GROUP Year Ended 30 Jun 13 Audited Rs’000 GROUP Half Year Ended 31 Dec 12 Unaudited Rs’000 GROUP Half Year Ended 31 Dec 13 Unaudited Rs’000 COMPANY Half Year Ended 31 Dec 13 Unaudited Rs’000 72,281 - (364) - (364) - (364) 71,917 71,917 - 71,917 COMPANY Half Year Ended 31 Dec 12 Unaudited Rs’000 154,637 66,375 (7,595) - 58,780 - 58,780 213,417 213,417 - 213,417 COMPANY Year Ended 30 Jun 13 Audited Rs’000 367,303 - - - 367,303 - - 367,303 - - - 367,303 5,308 - - - 5,308 - - 5,308 - - - 5,308 Share capital Rs’000 Share premium Rs’000 Foreign exchange translation reserve Rs’000 Retained earnings Rs’000 Total Rs’000 367,303 - - - 367,303 - - - 367,303 5,308 - - - 5,308 - - - 5,308 286,844 58,780 - (4,850) 340,774 - (2,736) - 338,038 735,566 154,637 (66,115) 4,850 828,938 80,270 2,736 (31,221) 880,723 1,395,021 213,417 (66,115) - 1,542,323 80,270 - (31,221) 1,591,372 - - - - - - - - - 317,115 222,086 - (4,850) 534,351 - - 534,351 (918) - (2,736) 530,697 (35,412) 30,147 - - (5,265) - - (5,265) 745 - - (4,520) 754,188 165,082 (66,115) 4,850 858,005 10,345 59,440 927,790 87,628 (31,221) - 984,197 1,408,502 417,315 (66,115) - 1,759,702 10,345 59,440 1,829,487 87,455 (31,221) (2,736) 1,882,985 265,967 35,182 (29,909) - 271,240 (19,080) (77,127) 175,033 9,323 (7,350) - 177,006 1,674,469 452,497 (96,024) - 2,030,942 (8,735) (17,687) 2,004,520 96,778 (38,571) (2,736) 2,059,991 Revaluation reserve Rs’000 Non Controlling Interest Rs’000 Total Shareholders’ Equity Rs’000 CONDENSED STATEMENTS OF FINANCIAL POSITION Shareholder’s equity Owners’ interest Non-controlling interest Total shareholder’s equity Non-current liabilities Current liabilities Total equity and liabilities ASSETS EQUITY AND LIABILITIES Property, plant and equipment Investment property Bearer of Biological assets Intangible assets Investments Other non-current assets Current assets Total assets COMPANY Half Year Ended 31 Dec 12 Unaudited Rs’000 COMPANY Half Year Ended 31 Dec 13 Unaudited Rs’000 GROUP Year Ended 30 Jun 13 Audited Rs’000 1,683,372 2,620 42,744 8,227 6,100 17,376 1,961,653 3,722,092 COMPANY Year Ended 30 Jun 13 Audited Rs’000 864,199 - 37,845 - 279,634 151,014 1,342,559 2,675,253 813,175 - 39,550 5,014 272,094 153,953 1,537,246 2,821,032 872,359 - 42,744 476 279,594 145,480 1,411,733 2,752,386 1,829,487 175,033 2,004,520 164,841 1,552,731 3,722,092 1,591,372 - 1,591,372 155,259 928,623 2,675,253 1,435,718 - 1,435,718 453,789 931,525 2,821,032 1,542,323 - 1,542,323 132,929 1,077,134 2,752,386 GROUP Half Year Ended 31 Dec 12 Unaudited Rs’000 GROUP Half Year Ended 31 Dec 13 Unaudited Rs’000 1,732,337 2,385 37,845 7,281 5,839 16,948 1,963,515 3,766,150 1,394,667 2,856 40,348 13,393 5,914 18,073 2,068,193 3,543,444 1,882,985 177,006 2,059,991 166,084 1,540,075 3,766,150 1,461,905 291,003 1,752,908 489,142 1,301,394 3,543,444

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