Promotion and Development Limited 1Q 2014

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Promotion and Development Limited 1Q 2014

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Promotion and Development Limited 1Q 2014

  1. 1. PROMOTION AND DEVELOPMENT LTD ABRIDGED UNAUDITED INTERIM FINANCIAL STATEMENTS 30 SEPTEMBER 2013 STATEMENTS OF FINANCIAL POSITION STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME THE GROUP UNAUDITED Restated 30 SEP 13 30 SEP 12 MRs 000 MRs 000 ASSETS Non-current assets Property, plant and equipment Investment property Intangible assets Investments in subsidiary companies Investments in associates Investments in available-for-sale financial assets Deferred tax assets AUDITED 30 JUN 13 MRs 000 THE COMPANY UNAUDITED Restated 30 SEP 13 30 SEP 12 MRs 000 MRs 000 AUDITED 30 JUN 13 MRs 000 Current assets 286,278 3,783,641 4,877 4,017,698 2,020,718 595 10,113,807 182,203 297,275 3,783,641 5,047 3,892,420 1,579,890 9,558,273 180,660 286,913 3,783,641 5,021 3,955,956 1,856,977 235 9,888,743 228,988 107,923 139,250 521 868,028 2,520,887 1,660,593 5,297,202 369,671 111,169 139,250 730 731,741 2,643,308 1,389,726 5,015,924 304,681 109,332 139,250 563 778,184 2,518,181 1,561,246 5,106,756 387,609 Total assets 10,296,010 9,738,933 10,117,731 5,666,873 5,320,605 5,494,365 Less: Treasury shares Equity attributable to owners of the parent Non-controlling interest 194,474 4,066,406 3,033,851 7,294,731 (18) 7,294,713 1,077,349 194,462 3,591,159 3,011,000 6,796,621 (131) 6,796,490 1,075,694 194,474 3,902,304 3,002,892 7,099,670 (18) 7,099,652 1,074,165 194,474 2,991,859 1,497,927 4,684,260 (18) 4,684,242 - 194,462 2,719,568 1,556,597 4,470,627 (131) 4,470,496 - 194,474 2,821,416 1,511,655 4,527,545 (18) 4,527,527 - Total equity 8,372,062 7,872,184 8,173,817 4,684,242 4,470,496 4,527,527 Current liabilities 821,448 167,114 36,583 1,025,145 898,803 890,956 163,755 38,556 1,093,267 773,482 838,825 167,545 35,726 1,042,096 901,818 350,000 1,498 22,403 373,901 608,730 350,000 498 25,128 375,626 474,483 350,000 2,770 21,794 374,564 592,274 Total liabilities 1,923,948 1,866,749 1,943,914 982,631 850,109 966,838 10,296,010 MRs 187.57 9,738,933 MRs 174.87 10,117,731 MRs 182.55 5,666,873 MRs 120.45 5,320,605 MRs 115.02 5,494,365 MRs 116.42 No. 38,891,075 No. 38,866,160 No. 38,891,075 No. 38,891,075 No. 38,866,160 Turnover Operating expenses No. 38,891,075 EQUITY AND LIABILITIES Capital and reserves Share capital Other reserves Retained earnings Liabilities Non-current liabilities Borrowings Deferred tax liabilities Retirement benefit obligations Total equity and liabilities Net assets per share Number of shares Profit on disposal of shares Finance income Finance costs Exceptional item Share of results of associates Gains on bargain purchases Profit/(loss) before taxation Taxation Profit/(loss) for the period/year Other comprehensive income: Items that will not be reclassified to profit or loss Remeasurement of defined benefit obligations Deferred tax on remeasurement of defined benefit obligations THE GROUP AUDITED Year to 30 JUN 13 MRs 000 530,404 (413,260) 117,144 594 219 (116,466) (7,738) 9,978 13,955 17,686 (7,775) 9,911 THE COMPANY UNAUDITED Restated 3 months to 3 months to 30 SEP 13 30 SEP 12 MRs 000 MRs 000 12,359 7,211 (13,863) (13,414) (1,504) (6,203) 1,007 1,721 490 (16,224) (14,157) (15,000) (19,870) 1,272 2,324 (13,728) (17,546) AUDITED Year to 30 JUN 13 MRs 000 141,842 (53,504) 88,338 594 3,369 (60,072) (37,213) (4,984) 820 (4,164) - - 5,119 (768) - - 5,119 (768) - 7,480 Items that may be reclassified subsequently to profit or loss Group's share of other comprehensive income of associates Movement on available-for-sale financial assets Fair value gains/(losses) on: -available-for-sale financial assets -subsidiaries -associates Currency translation differences Other comprehensive income for the period/year, net of tax 7,428 (1,012) (12,948) - 36,098 (550) (1,012) 146,442 13,388 166,246 (55,429) 4,182 (64,195) 256,843 (2,503) 294,239 95,436 89,844 (13,825) 170,443 (93,291) 32,097 (107,419) (168,613) 106,729 78,540 (265,179) (68,079) Total comprehensive income for the period/year 198,245 (66,531) 304,150 156,715 (186,159) (72,243) 28,815 3,184 31,999 (7,930) 5,594 (2,336) (6,315) 16,226 9,911 (13,728) (13,728) (17,546) (17,546) (4,164) (4,164) 195,061 3,184 198,245 (72,125) 5,594 (66,531) 287,924 16,226 304,150 156,715 156,715 (186,159) (186,159) (72,243) (72,243) MRe 0.74 MRe (0.20) MRe (0.16) Profit/(loss) for the period/year Attributable to: Owners of the parent Non-controlling interest Total comprehensive income for the period/year Attributable to: Owners of the parent Non-controlling interest Earnings/(loss) per share STATEMENTS OF CHANGES IN EQUITY THE GROUP UNAUDITED Restated 3 months to 3 months to 30 SEP 13 30 SEP 12 MRs 000 MRs 000 123,512 126,129 (100,590) (98,236) 22,922 27,893 1,007 55 809 (29,268) (29,659) 33,365 (658) 4,567 32,648 (1,615) (649) (721) 31,999 (2,336) STATEMENTS OF CASH FLOWS Share capital MRs 000 Attributable to owners of the parent Treasury Other Retained shares reserves earnings MRs 000 MRs 000 MRs 000 Total MRs 000 Non controlling interest MRs 000 THE GROUP UNAUDITED 3 months to 3 months to 30 SEP 13 30 SEP 12 MRs 000 MRs 000 Total equity MRs 000 At 1 July 2012 -As previously reported -Prior year adjustment -As restated Effect of increase in shareholding of subsidiary company (Loss)/profit for the period-restated Transfer Other comprehensive income for the period At 30 September 2012 194,462 194,462 194,462 (131) (131) (131) 3,705,742 (40,646) 3,665,096 (9,742) (64,195) 3,591,159 2,959,026 43,308 3,002,334 6,854 (7,930) 9,742 3,011,000 6,859,099 2,662 6,861,761 6,854 (7,930) (64,195) 6,796,490 1,055,906 24,579 1,080,485 (10,385) 5,594 1,075,694 7,915,005 27,241 7,942,246 (3,531) (2,336) (64,195) 7,872,184 At 1 July 2012 -As previously reported -Prior year adjustment -As restated Issue of shares Dividend Exercise of share options Effect of increase in shareholding of subsidiary company (Loss)/profit for the year Transfer Other comprehensive income for the year At 30 June 2013 194,462 194,462 12 194,474 (131) (131) (12) 125 (18) 3,705,742 (40,646) 3,665,096 1,314 (55,418) 291,312 3,902,304 2,959,026 43,308 3,002,334 (58,324) 6,852 (6,315) 55,418 2,927 3,002,892 6,859,099 2,662 6,861,761 (58,324) 1,439 6,852 (6,315) 294,239 7,099,652 1,055,906 24,579 1,080,485 (12,162) (10,384) 16,226 1,074,165 7,915,005 27,241 7,942,246 (70,486) 1,439 (3,532) 9,911 294,239 8,173,817 194,474 194,474 (18) (18) 3,902,304 (3,593) 167,695 4,066,406 3,002,892 28,815 3,593 (1,449) 3,033,851 7,099,652 28,815 166,246 7,294,713 1,074,165 3,184 1,077,349 8,173,817 31,999 166,246 8,372,062 Other reserves MRs 000 Retained earnings MRs 000 AUDITED Year to 30 JUN 13 MRs 000 THE COMPANY UNAUDITED 3 months to 3 months to 30 SEP 13 30 SEP 12 MRs 000 MRs 000 AUDITED Year to 30 JUN 13 MRs 000 Total MRs 000 Net cash generated from operating activities Net cash used in investing activities Net cash flow before financing activities Net cash used in financing activities Decrease in cash and cash equivalents Cash and cash equivalents at beginning of the year Effect of foreign exchange rate changes Cash and cash equivalents at end of the period/year THE COMPANY Share capital MRs 000 Treasury shares MRs 000 At 1 July 2012 -As previously reported -Prior year adjustment -As restated Loss for the period - restated Other comprehensive income for the period At 30 September 2012 194,462 194,462 194,462 (131) (131) (131) 2,894,101 (5,920) 2,888,181 (168,613) 2,719,568 1,570,400 3,743 1,574,143 (17,546) 1,556,597 194,462 194,462 12 194,474 (131) (131) (12) 125 (18) 2,894,101 (5,920) 2,888,181 1,314 (68,079) 2,821,416 1,570,400 3,743 1,574,143 (58,324) (4,164) 1,511,655 (18) (18) 2,821,416 170,443 2,991,859 1,511,655 (13,728) 1,497,927 46,792 (57,125) (16,150) 9,334 43,021 (978) 42,116 (40,959) 25,089 14,082 30,642 42,043 (67,170) (138,269) (83,615) (81,437) (123,145) (58,523) (42,081) (124,187) (52,973) (39,394) (121,988) (659,149) (535,007) (535,007) (536,979) (414,990) (414,990) (67,857) 18 (717,654) 9 45 (577,079) (659,149) 767 670 (577,846) (577,079) (659,819) (659,149) Shares MRs 000 Security MRs 000 3 (589,949) 1,157 2 (1) (454,382) (536,979) Bank and cash balances 596 (718,250) (717,654) 80 82 77 (590,029) (589,949) (454,464) (454,382) (537,056) (536,979) 4,658,832 (2,177) 4,656,655 (58,324) 1,439 (4,164) (68,079) 4,527,527 194,474 194,474 71,207 (8,397) 4,658,832 (2,177) 4,656,655 (17,546) (168,613) 4,470,496 At 1 July 2012 -As previously reported -Prior year adjustment -As restated Issue of shares Dividend Exercise of share options Loss for the year Other comprehensive income for the year At 30 June 2013 33,486 Analysis of cash and cash equivalents Bank overdrafts At 1 July 2013 Profit for the period Transfer Other comprehensive income for the period At 30 September 2013 37,858 (28,524) 4,527,527 (13,728) 170,443 4,684,242 At 1 July 2013 Loss for the period Other comprehensive income for the period At 30 September 2013 Notes - The abridged financial statements for the quarter ended 30 September 2013 are unaudited and have been prepared using the same accounting policies and methods of computation followed per the audited financial statements for the year ended 30 June 2013 and comply with IAS 34. - 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 upon request from the secretary, free of charge, at Promotion and Development Ltd ,8th Floor, Dias Pier Building, Le Caudan Waterfront, Port-Louis. Segment reporting Property MRs 000 Other MRs 000 Eliminations MRs 000 Total MRs 000 The earnings/(loss) per share has been calculated as follows: Profit/(loss) attributable to owners of the parent Weighted average number of shares in issue - UNAUDITED Restated 3 months to 30 SEP 12 MRs 000 3 months to 30 SEP 13 MRs 000 53,878 1,200 55,078 7,826 149 7,975 61,250 3,860 65,110 558 2,429 2,987 (7,638) (7,638) 123,512 123,512 Segment result 19,295 930 2,846 - (149) 22,922 30 September 2012 External sales Intersegment sales Total Revenues 57,505 1,200 58,705 1,928 1,928 66,144 4,171 70,315 552 3,276 3,828 (8,647) (8,647) 126,129 126,129 Segment result - Earnings/(loss) per share 30 September 2013 External sales Intersegment sales Total Revenues 26,567 (4,861) 6,187 - 229,365 4,800 234,165 38,561 87,997 126,558 260,262 16,883 277,145 2,216 13,265 15,481 (122,945) (122,945) 530,404 530,404 98,849 99,431 6,861 - (87,997) 117,144 AUDITED Year to 30 JUN 13 MRs 000 28,815 (7,930) (6,315) 38,891,075 38,866,160 38,874,465 Prior year adjustment The prior year adjustment is in respect of early adoption of IAS 19 (Revised), effect of IAS 12 with regard to the reversal of deferred tax recognised on undeveloped land in prior years and additional vat on recharges. 30 June 2013 External sales Intersegment sales Total Revenues Segment result These abridged financial statements were approved for issue by the Board of Directors on 15 November 2013. By order of the board Jocelyne Martin Secretary 15 November 2013 These abridged financial statements are issued pursuant to listing rule 12.20 and section 88 of the Securities Act 2005. The Board of Directors of Promotion and Development Ltd accepts full responsibility for the accuracy of the information contained in these abridged financial statements. Copies of the abridged financial statements are available upon request from the secretary, free of charge, at Promotion and Development Ltd, 8th Floor, Dias Pier Building, Le Caudan Waterfront, Port Louis. - 27,893

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