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Cordlife Ltd
ABN 48 108 051 529
Condensed Half-Year Financial Report
Period Ended 31 December 2012
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Cordlife Ltd
1
Half-year Financial Report for the period ended 31 December 2012
Page Number Directors’ Report 2 Auditor’s Independence Declaration 5 Independent Review Report 6 Directors’ Declaration 8 Consolidated Statement of Comprehensive Income 9 Consolidated Statement of Financial Position 10 Consolidated Statement of Cash Flows 11 Consolidated Statement of Changes in Equity 12 Notes to the Financial Statements 14
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Cordlife Ltd Directors’ Report
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The directors of Cordlife Ltd submit herewith their report and the consolidated financial report of the Company for the
half-year ended 31 December 2012.
The names and particulars of the Company’s directors in office during the half-year and until the date of this report are as
below. Directors were in office for this entire period unless otherwise stated.
Name Particulars
Kam Yuen Chairman (non-executive)
Simon Hoo
Executive Director, Interim Chief Executive Officer (appointed 19 November 2012)
and Chief Financial Officer
Simon Lee
Executive Director
Samuel Kong
Non-executive Director
Mark Benedict Ryan
Non-executive Director
Voiron Chor Non-executive Director
Steven Fang Chief Executive Officer (resigned 3 October 2012), Non-executive Director (resigned
19 November 2012)
The Company Secretary is Andrew Lord (BSc, LLB).
Review and results of operations
The consolidated revenue and net profit for the period attributable to members represents the results of operations of
Cordlife Ltd and its controlled entities for the period from 1 July 2012 to 31 December 2012. Details of controlled entities
are set out in note 11 to the half-year financial statements for the period ended 31 December 2012.
Revenue from cord blood banking services was $5,327,000 for the half-year ended 31 December 2012 as compared
to $3,197,000 for the half-year ended 31 December 2011 (an increase of 66%). Increase is mainly due to higher sign-
up rate in India and Philippines.
Interest and other sundry income was $232,000 for the half-year ended 31 December 2012 as compared to $270,000
for the half-year ended 31 December 2011 (a decrease of 14%). This is largely due to decrease in interest income
generated from the placement of fixed deposit with favourable interest.
Marketing expenses were $1,532,000 for the half-year ended 31 December 2012 as compared to $1,351,000 for the
half-year ended 31 December 2011 (an increase of 13%).
Administration expenses were $2,843,000 for the half-year ended 31 December 2012 as compared to $3,132,000 for
the half-year ended 31 December 2011 (a decrease of 9%). The decrease is mainly due to several cost-cutting
measures implemented by the Company.
Borrowing costs were $209,000 for the half-year ended 31 December 2012 as compared to $1,561,000 for the half-
year ended 31 December 2011 (a decrease of 87%). The borrowing cost pertains to the interest expense incurred on
the convertible bond issued in prior year and interest expenses incurred on the loan facility.
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Cordlife Ltd Directors’ Report
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Net loss attributable to members for the half-year ended 31 December 2012 was $1,323,000, a decrease of 67% over the
net loss attributable to members of $4,029,000 for the half-year ended 31 December 2011.
Information on revenue and results of the different operating segments are set out in note 12 to the half-year financial
statements. Details of significant costs are set out in note 2.2.
Cash and cash equivalents, net of bank overdrafts, as at 31 December 2012 was $1,104,000.
Trade and other receivables at 31 December 2012 was $2,241,000 as compared to $2,180,000 at 30 June 2012. This
was mainly due to increase in other receivables. Increase in other receivables was due to increase in marketing
commission income earned during the period.
Plant and equipment at 31 December 2012 was $483,000 as compared to $548,000 at 30 June 2012. The decrease
was due to the depreciation of fixed asset, partially offset by new acquisitions of equipment.
During the period, Cordife Ltd has made a draw-down of S$2,000,000 (equivalent to A$1,582,000) from the loan
facility secured from City Challenge Global Limited for working capital purposes. The facility has a draw down limit
of $4,728,000.
Trade and other payables at 31 December 2012 was $4,413,000, as compared to $2,927,000 at 30 June 2012. The
increase is mainly due to increase in other payables. Increase in other payables was due to amount owing to Cordlife
Group Limited for payments made and collections received on behalf of the Company, interest payables on loans and
borrowings.
For further information on the activities and development of the Group, please refer to previously released market
announcements of the Company during the half-year ended 31 December 2012 and until the date of this report.
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Cordlife Ltd Directors’ Report
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Auditor’s independence declaration In accordance with section 307C of the Corporations Act 2001, we have obtained a declaration of independence from our
auditors Ernst and Young, a copy of which follows this Report.
Rounding of amounts to nearest thousand dollars The amounts contained in this report and in the financial report have been rounded to the nearest $1,000 (unless otherwise
stated) under the option available to the Company under ASIC Class Order 98/0100. The Company is an entity to which
the Class Order applies.
This report is made in accordance with a resolution of the directors.
On behalf of the Board
Simon Hoo
Singapore
28 February 2013
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Cordlife Ltd Directors’ Declaration
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In accordance with a resolution of the directors of Cordlife Ltd, I state that:
In the opinion of the directors:
a) The financial statements and notes of the consolidated entity for the financial period ended 31 December 2012 are in
accordance with the Corporations Act 2001, including:
(i) giving a true and fair view of the financial position as at 31 December 2012 and the performance for the half-year
ended on that date of the consolidated entity; and
(ii) complying with Australian Accounting Standard AASB 134 “Interim Financial Reporting” and the Corporations
Regulations 2001
b) There are reasonable grounds to believe that the company will be able to pay its debts as and when they become due
and payable.
On behalf of the Board
Simon Hoo
Singapore
28 February 2013
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Cordlife Ltd Consolidated Statement of Comprehensive Income
for the half-year ended 31 December 2012
The above statement should be read in conjunction with the accompanying notes.
9
Half-year ended 31 December
2012
$’000
Half-year ended 31 December
2011
$’000
Note
Revenue 2.1(a) 5,462 3,460
Cost of sales (2,378) (1,533)
Gross profit 3,084 1,927
Other income
- Sundry income 2.1(b) 209 18
Marketing expenses (1,532) (1,351)
Administration expenses (2,843) (3,132)
Borrowing costs (209) (1,561)
Loss before income tax (1,291) (4,099)
Income tax expense (62) (9)
Loss after income tax (1,353) (4,108)
Net loss for the period (1,353) (4,108)
Other comprehensive income/(losses)
Items that may be reclassified subsequently to profit or loss
Foreign currency translation losses 43 (135)
Fair value adjustments 203 -
Total comprehensive losses for the period, net of
tax (1,107) (4,243)
Loss after income tax attributable to:
Non-controlling interests (30) (79)
Members of parent (1,323) (4,029)
(1,353) (4,108)
Total comprehensive losses attributable to:
Non-controlling interests (73) (36)
Members of parent (1,034) (4,207)
(1,107) (4,243)
Loss per share attributable to the
ordinary share equity holders of the company:
Basic loss per share (cents per share) 7 (0.77) (2.67)
Diluted loss per share (cents per share) 7 (0.77) (2.67)For
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Cordlife Ltd Consolidated Statement of Financial Position
as at 31 December 2012
The above statement should be read in conjunction with the accompanying notes.
10
31 December 2012 $’000
30 June 2012 $’000
Note
Current assets
Cash and cash equivalents 1,104 1,441
Trade and other receivables 3 2,241 2,180
Prepayments 436 236
Assets classified as held for sale 9 8,340 -
Inventories 197 136
Total current assets 12,318 3,993
Non-current assets
Plant and equipment 483 548
Trade and other receivables 3 4,107 2,562
Available for sale financial asset 9 - 7,992
Deferred tax assets 5 6
Total non-current assets 4,595 11,108
Total assets 16,913 15,101
Current liabilities
Trade and other payables 4,413 2,927
Provisions 76 287
Deferred revenue 331 322
Loans and borrowings 10 1,582 -
Income tax payables 5 10
Total current liabilities 6,407 3,546
Non-current liabilities
Deferred revenue 1,182 1,145
Convertible bonds 8 1,161 1,140
Total non-current liabilities 2,343 2,285
Total liabilities 8,750 5,831
Net assets 8,163 9,270
Equity
Contributed equity 5 71,177 71,177
Foreign currency translation reserve (117) (203)
Other reserve (1,878) (1,878)
Employee equity benefits reserve 3,206 3,206
Convertible bond reserve 3,326 3,326
Fair value adjustment reserve 203 -
Accumulated losses (67,371) (66,048)
Attributable to equity holders of the parent 8,546 9,580
Non-controlling interests (383) (310)
Total equity 8,163 9,270
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Cordlife Ltd Consolidated Statement of Cash Flows
for the half-year ended 31 December 2012
The above statement should be read in conjunction with the accompanying notes.
11
Half-year ended
31 December 2012
$’000
Half-year ended
31 December 2011
$’000
Cash flows from operating activities
Receipts from customers 4,177 3,360
Payments to suppliers and employees (5,667) (5,975)
Interest received 12 223
Interest paid (85) (15)
Tax paid (16) -
Net cash flows used in operating activities (1,579) (2,407)
Cash flows from investing activities
Purchase of plant and equipment (123) (124)
Proceeds from disposal of equity investment 75 -
Release of other financial assets (restricted cash) - 7,412
Payment for refundable deposit - (5,897)
Net cash flows (used in)/from investing activities (48) 1,391
Cash flows from financing activities
Proceeds from borrowings 1,581 -
Repayments of borrowings (332) (305)
Net cash flows from/(used in) financing activities 1,249 (305)
Net decrease in cash and cash equivalents held (378) (1,321)
Cash and cash equivalents at the beginning of the
financial period 4 1,441 5,322
Effects of exchange rate changes on the balance of
cash held in foreign currencies 41 (39)
Cash and cash equivalents at the end of the
financial period 4 1,104 3,962
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Cordlife Ltd Consolidated Statement of Changes in Equity
for the half-year ended 31 December 2012
The above statement should be read in conjunction with the accompanying notes.
12
Attributable to equity holders of the parent
Non-
controlling
interests
Total
Equity
Contributed
equity
$’000
Foreign
currency
translation
reserve
$’000
Accumulated
losses
$’000
Employee
equity
benefits
reserve
$’000
Converti-
ble bond
reserves
$’000
Other
reserves
$’000
Fair value
reserves
S$’000
Total
$’000 $’000 $’000
At 1 July 2012
71,177
(203)
(66,048)
3,206
3,326
(1,878)
-
9,580
(310)
9,270
Loss for the period - - (1,323) - - - - (1,323) (30) (1,353)
Other comprehensive income - 86 - - - - 203 289 (43) 246
Total comprehensive losses for the half-
year, net of tax
- 86 (1,323) - - - 203 (1,034) (73) (1,107)
Transactions with owners in their
capacity as owners
- - - - - - - - - -
At 31 December 2012 71,177 (117) (67,371) 3,206 3,326 (1,878) 203 8,546 (383) 8,163
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Cordlife Ltd Consolidated Statement of Changes in Equity
for the half-year ended 31 December 2011
The above statement should be read in conjunction with the accompanying notes.
13
Attributable to equity holders of the parent Non-
controlling
interests
Total Equity
Contributed
equity
$’000
Foreign
currency
translation
reserve
$’000
Accumulated
losses
$’000
Employee
equity
benefits
reserve
$’000
Converti-
ble bond
reserves
$’000
Other
reserves
$’000
Total
$’000 $’000 $’000
At 1 July 2011
64,707
(61)
(58,428)
3,206
2,651
(1,878)
10,197
(237)
9,960
Loss for the period - - (4,029) - - - (4,029) (79) (4,108)
Other comprehensive losses - (178) - - - - (178) 43 (135)
Total comprehensive losses for the half-year,
net of tax
- (178) (4,029) - - - (4,207) (36) (4,243)
Transactions with owners in their capacity
as owners
- - - - - - - - -
At 31 December 2011 64,707 (239) (62,457) 3,206 2,651 (1,878) 5,990 (273) 5,717
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Cordlife Ltd Notes to the Financial Statements
for the half-year ended 31 December 2012
14
For the half-year ended 31 December 2012
1. Corporate information
The condensed half-year consolidated financial statements of the Company for the six months ended 31
December 2012 were authorised for issue in accordance with a resolutions of the directors on 28 February 2013.
Cordlife Ltd is a company limited by shares, incorporated in Australia and currently trading in Australia and
Asia. The shares of the Company are publicly traded on the Australian Securities Exchange.
The Company and its controlled entities’ (“consolidated entity”) principal activities were the provision of human
umbilical cord blood banking and cord tissue banking services, which involves the processing and storage of
stem cells.
2. Basis of preparation and changes to the Group’s accounting policies
Basis of preparation
This financial report for the half-year ended 31 December 2012 is a general purpose condensed financial report
prepared in accordance with AASB 134 Interim Financial Reporting and the Corporations Act 2001.
The half-year financial report does not include all notes of the type normally included within the annual financial
report and therefore cannot be expected to provide as full an understanding of the financial performance,
financial position and financing and investing activities of the consolidated entity as the full financial report.
It is recommended that the half-year financial report should be read in conjunction with the annual report for the
year ended 30 June 2012 and considered together with any public announcements made by Cordlife Ltd and its
controlled entities during the half-year ended 31 December 2012 in accordance with the continuous disclosure
obligations of the ASX listing rules.
Accounting policies
The accounting policies adopted in the preparations of the interim condensed consolidated financial statements
are consistent with those followed in the preparation of the Company’s annual financial statements for the year
ended 30 June 2012
From 1 July 2012, the Group has adopted all Australian Accounting Standards and Interpretations, mandatory for
annual periods beginning on or after 1 July 2012.
AASB 2010-8 Amendments to Australian Accounting Standards - Deferred Tax: Recovery of Underlying
Assets [AASB 112]
AASB 2011-9 Amendments to Australian Accounting Standards -Presentation of Other Comprehensive
Income [AASB 1, 5, 7, 101, 112, 120, 121, 132, 133, 134, 1039 & 1049]
Adoption of these standards and interpretations did not have an effect on the financial position or performance of
the Group.
The Group has elected not to early adopt any new standards or amendments that are issued but not yet effective.
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Cordlife Ltd Notes to the Financial Statements
for the half-year ended 31 December 2012
15
Half-year ended
31 December 2012
$’000
Half-year ended
31 December 2011
$’000
2.1 Revenue
(a) Revenue
Revenue from the rendering of services 5,327 3,197
5,327 3,197
Other revenue
Interest income 5 199
Interest income on long-term trade receivables 130 64
135 263
Total revenue 5,462 3,460
(b) Other income
Sundry income 21 7
Gain on disposal of fixed assets 1 -
Gain on disposal of other investment 75 -
Foreign exchange gain 112 11
209 18
Total revenue and other income 5,671 3,478
2.2 Losses before income tax
Losses before income tax includes the following items of expense:
Half-year ended
31 December 2012
$’000
Half-year ended
31 December 2011
$’000
Depreciation of property, plant and equipment 164 164
Operating lease expenses – rental expenses 191 186
Staff costs 1,951 1,859
Other expenses:
Legal and professional fees 248 304
Business travel 353 552
Consultancy 50 425
Advertising and promotion 420 311
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Cordlife Ltd Notes to the Financial Statements
for the half-year ended 31 December 2012
16
31 December 2012 $’000
30 June 2012 $’000
3 Trade and other receivables
Current
Trade receivables
1,351 1,574
Goods and services tax recoverable 104 70
Interest and other receivables 678 536
Deposits 108 -
2,241 2,180
Non-current trade receivables 4,107 2,562
4,107 2,562
Total trade and other receivables 6,348 4,742
4 Notes to statement of cash flows
For the purpose of the statement of
cash flows, cash includes cash on hand
and in banks. Cash at the end of the
financial period as shown in the
statement of cash flows is reconciled to
the related items in the balance sheet as
follows:
Cash at bank and in hand 1,133 1,371
Bank overdraft (29) -
Term deposits with banks - 70
1,104 1,441
31 December 2012
$’000
30 June 2012
$’000
5 Contributed equity
Balance at beginning of the period 71,177 64,707
Issue of shares during the period - 6,470
Balance at end of the period 71,177 71,177
6 Non-controlling interests
Non-controlling interests represent the interests in Cordlife Sciences (India) Pvt Ltd and PT Cordlife Indonesia
not held by the Group.
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Cordlife Ltd Notes to the Financial Statements
for the half-year ended 31 December 2012
17
Half-year ended
31 December 2012
Half-year ended
31 December 2011
7 Loss per share
Net loss for the period attributable to members $(1,323,000) $(4,029,000)
Weighted average number of ordinary shares for
basic and diluted loss per share
172,687,354 150,887,354
Basic and diluted loss per share (cents) (0.77) (2.67)
Total options considered anti-dilutive, which could be dilutive in the future, amounts to Nil as 31 December 2012
(June 2012: Nil). This does not include the estimated 869,000 shares potentially issuable by the subsidiary company,
CS Cell Technologies Pte Ltd, on conversion of the 2012 convertible bond disclosed in note 8.
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Cordlife Ltd Notes to the Financial Statements
for the half-year ended 31 December 2012
18
8 Convertible bonds
2011 Bond Agreement
On 14 May 2011, Cordlife Ltd issued Bonds to City Challenge Global Limited (“the bond holder”) to
secure additional funding of A$7,412,000 under a Bond Agreement, which was used for the continued
development of the developing businesses of the Group. Under the terms of the Bond Agreement, Cordlife
Ltd granted the bond holder options to subscribe to 21,800,000 shares with an exercise price of A$0.40 per
share.
During the 2012 financial year, pursuant to the Bond Agreement, a trigger event, being the admission of
Cordlife Singapore Pte Ltd to the Singapore Stock Exchange, occurred resulting in the exercise of the share
options by the bond holder.
Under the Bond Agreement, the exercise of the options by the bond holder was deemed to be a redemption
notice by the bond holder. As a result, the Bonds were redeemed at the issue price of A$7,412,000 plus a
yield of 15% per annum up to the redemption notice date.
In accordance with the Bond Agreement, this was applied against the exercise price of the options
($8,720,000), resulting in a net receipt of A$474,150 by Cordlife Ltd during the year ended 30 June 2012.
2012 CS Cell Technologies Pte Ltd Convertible Bond
In March 2012, Cordlife Ltd’s wholly owned subsidiary, CS Cell Technologies Pte Ltd issued convertible
bonds of S$1,500,000 (equivalent to A$1,161,000) to Cordlife Group Limited, an unrelated entity listed on
the Singapore Stock Exchange, to fund the Group’s expansion of the Indian operations.
The bond has a redemption value of S$2,160,000 (equivalent to A$1,671,840), an actual and implied yield
of 20% per annum with a maturity period of 2 years. The bond holder has the option to convert the bond
into ordinary shares of CS Cell Technologies Pte Ltd at any time on or after falling 6 months from 7 March
2012 (the "issue date”).
Upon conversion of the option by the bond holder or on maturity date (“conversion date”), the aggregate of
the principal amount of the convertible bond and the interest accreted thereon from the issue date to the
conversion date will be divided by the contracted conversion price to derive the number of shares which the
bond holder is entitled to receive. By mutual agreement, the number of shares on issue has been fixed over
the term of the bond.
At conversion date, the bond holder will acquire an equity stake in CS Cell Technologies Pte Ltd not
exceeding 30%.
The fair value of the liability portion of the convertible bond on initial recognition was estimated using an
equivalent interest rate for the issuer for an instrument with similar terms but without the conversion option.
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Cordlife Ltd Notes to the Financial Statements
for the half-year ended 31 December 2012
19
9 Financial assets
On 31 March 2012, Cordlife Ltd’s wholly owned subsidiary, Cordlife Services (S) Pte Ltd acquired 17% stake in
Favorable Fort Limited, which owns a 24% equity stake in Shandong Qilu. This gives Cordlife an effective 4.08%
interest in Shandong Qilu. The purchase consideration was US$8,160,000 (equivalent to A$7,992,000 at the time).
Shandong Qilu is the only cord blood banking operator authorised to conduct business in Shandong province by
China’s Ministry of Health.
On 6 December 2012, Cordlife Ltd has entered into a conditional Share Purchase Agreement to sell its interest in
Favorable Fort Limited for US$ 8,650,000 (A$8,340,000) (“the Shandong sale”). Based on this transaction, the
carrying value of the investment has been revised upwards by $203,000 through Other Reserves to $8,340,000.
The sale would be effected by way of a share repurchase by Favorable Fort, pursuant to which Cordlife Ltd will
effectively be selling its entire interest in Favorable Fort ( and as a result, its interest in the Shandong Cord Blood
Bank). In January 2013, the Shandong sale was approved by shareholders at an Extraordinary General Meeting
and completed on 7 February 2013. The disposal will be reflected in the second half of the 2013 financial year.
10 Loans and borrowings
During the period, Cordife Ltd has made draw down of S$2,000,000 (equivalent to A$1,582,000) from the loan
facility secured from City Challenge Global Limited for working capital purposes.
The loan is repayable within two years after the date of loan agreement. Interest is payable on quarterly basis at
12% p.a. The facility is secured by 1,700 shares representing 17% of the issued share capital of Favorable Fort
Limited. It has been classified as short-term because the Company may be required to repay this loan upon
disposal of 17% shareholdings in Favorable Fort Limited within 12 months.
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Cordlife Ltd Notes to the Financial Statements
for the half-year ended 31 December 2012
20
11 Controlled entities
The consolidated financial statements include the financial statements of Cordlife Ltd and the
subsidiaries listed in the following table.
Name of entity Country of
incorporation
Ownership interest
Ownership interest
31/12/2012 %
30/6/2012 %
Parent entity
Cordlife Ltd Australia
Controlled entities
Cordlife International Pte Ltd Singapore 100 100
Cordlife Services (S) Pte Ltd Singapore 100 100
Cordlife Pty Ltd Australia 100 100
Cordlife Stem Cell Technology
Limited
Hong Kong 100 100
Cordlife Sciences Ltd Thailand 100 100
Cygenics (Thailand) Ltd* Thailand 49 49
Cordlife Sciences (India) Pvt Ltd India 85 85
PT Cordlife Indonesia Indonesia 65 65
Cordlife Medical Phils Inc Philippines 100 100
CLS Services B.V.@ Netherlands 100 100
CS Cell Technologies Pte Ltd+ Singapore 100 100
* Cygenics (Thailand) Ltd is considered a controlled entity as Cordlife Ltd has 99% of the voting
rights and share of profits
@ Under liquidation
+ Investment held by Cordlife Services (S) Pte Ltd
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Cordlife Ltd Notes to the Financial Statements
for the half-year ended 31 December 2012
21
12 Segment information
The Group has identified its operating segments based on the internal reports that are reviewed and used by
the executive management team (the chief operating decision makers) in assessing performance and in
determining the allocation of resources.
The operating segments are identified by management based on the manner in which the product is sold, the
nature and similarity of services provided, the method of service delivery, gross margin, types of customers
and risks associated with the geographical market, as these are the sources of the Group’s major risks and
has the most effect on the rates of return. Discrete financial information of each of these operating segments
is reported to the executive management team on at least a monthly basis.
Based on the above, management has identified Indonesia, India and Philippines as reportable segments.
All segments are in the business of providing cord blood banking services, which involves the processing
and storage of stem cells to their respective locations.
The following items and associated assets and liabilities are not allocated to operating segments as they are
not considered part of the core operations of any segment:
Corporate costs
Share of losses and impairment losses of associates
Interest income excluding interest income on long-term trade receivables
Net gains and losses on disposal of subsidiary
Interest expense
Share-based payments
Income tax expense
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Cordlife Ltd Notes to the Financial Statements
for the half-year ended 31 December 2012
22
Half-year ended 31 December 2012
Half- year ended 31 December 2011
Indonesia
$'000
India
$'000
Philippines
$'000
Others
$'000
Total
$'000
Revenue from external customers 551 1,442 680 264 2,937
Commission revenue 251 - 9 - 260
Interest income on long-term trade
receivables 36 24 4 - 64 Subtotal 838 1,466 693 264 3,261
Unallocated revenue:
Interest income^ 199
Total consolidated revenue 3,460
^$35,000 of interest income was derived in the Group’s country of domicile, Australia.
12 Segment information (continued)
(a) Segment revenue
Indonesia
$'000
India
$'000
Philippines
$'000
Others
$'000
Total
$'000
Revenue from external customers 687 2,204 1,295 819 5,005
Commission revenue 307 - 15 - 322
Interest income on long-term trade
receivables 50 67 13 - 130 Subtotal 1,044 2,271 1,323 819 5,457
Unallocated revenue:
Interest income 5
Total consolidated revenue 5,462
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Cordlife Ltd Notes to the Financial Statements
for the half-year ended 31 December 2012
23
12 Segment information (continued)
(b) Segment results
Half-year ended
31 December
2012
Half-year ended
31 December
2011
$'000 $'000
Segment profits/(losses):
- India (182) (524)
- Philippines 259 (170)
- Indonesia (58) (396)
- Other 436 (199) 455 (1,289)
Unallocated income/ (expense):
Interest income 5 6
Interest expense (209) (1,561)
Corporate costs (1,481) (1,435)
Unallocated (61) (180) Loss from continuing operations before income tax expense (1,291) (4,099)
Income tax expense – current tax (62) (9) Loss from continuing operations after income tax expense (1,353) (4,108)
Assets Liabilities
$'000 $'000
Segment assets and liabilities
31 December 2012
Segment assets and liabilities:
- India 3,326 4,419
- Philippines 2,117 3,660
- Indonesia 2,321 6,330
- Other 1,343 1,236 Eliminations (1,391) (12,297)
Corporate assets/ liabilities 8,510 2,814
Unallocated 687 2,588 Consolidated 16,913 8,750 Segment assets and liabilities
30 June 2012
Segment assets and liabilities:
- India 2,513 3,563
- Philippines 1,616 3,278
- Indonesia 2,180 5,834
- Other 784 1,120 Eliminations (268) (10,180)
Corporate assets/ liabilities 8,375 1,166
Unallocated (99) 1,050 Consolidated 15,101 5,831
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Cordlife Ltd Notes to the Financial Statements
for the half-year ended 31 December 2012
24
13 Subsequent events
Other than the approval and completion of the Shandong sale (refer note 9), there has not been any matter or
circumstance that has arisen since the end of the half-year period that has significantly affected, or may
significantly affect, the operations of the consolidated entity, the results of those operations, or the state of
affairs of the consolidated entity in future financial periods.
14
Contingent liabilities and contingent assets
Since the last annual reporting date, there have been no material changes in contingent assets or liabilities.
15 Options and Performance Rights Plan
During the financial period no options were granted.
16 Dividends
The company did not pay any dividends during the half-year period. The Directors do not recommend the
payment of a dividend in respect of the half-year period.
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Appendix 4D
Half Year Report
25
Appendix 4D
Half Year Report
1. Company details
Name of entity
Cordlife Ltd
ABN Half year ended
48 108 051 529 31 December 2012
The previous corresponding period refers to the comparative amounts for the half-year period
ended 31 December 2011.
2. Results for announcement to the market A$’000
2.1 Total revenues : up 58% to 5,462
2.2 Net loss for the period attributable
to members : down 67% to (1,323)
2.3 Dividends : Nil
Refer to the Review and results of operations in the Directors Report
3. Net tangible assets backing per ordinary security
As at 31 December 2012 : 4.7 cents
As at 31 December 2011 : 3.8 cents
4. Control gained or lost over entities
Please refer to note 11 of the Condensed Half-Year Financial Report
5. Dividends
No dividend was paid during the half-year period. The Directors do not recommend the
payment of a dividend in respect of the half-year period.
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Appendix 4D
Half Year Report
26
6. Dividend reinvestment plans
Not applicable
7. Details of associates and joint venture entities
Not applicable
8. Foreign entities
Please refer to note 11 of the Condensed Half-Year Financial Report.
9. Review of the half year financial report
This report is based on accounts which have been reviewed.
Sign here:
Simon Hoo
Singapore
28 February 2013
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