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GROUP
COMPANY
STATEMENT OF COMPREHENSIVE INCOME Unaudited
Unaudited
Audited
Unaudited
Unaudited
Audited
6 months
6 months
12 months
6 months
6 months
12 months
Jun-16
Jun-15
Dec-15
Jun-16
Jun-15
Dec-15
P'000
P'000
P'000
P'000
P'000
P'000
Revenue 159,939
150,110
319,603
147,975
137,990
296,279
Cost of sales
(102,713)
(96,603)
(190,482)
(93,149)
(86,969)
(178,475)
Gross profit 57,226
53,507
129,121
54,826
51,021
117,804
Other income
-
-
1,065
-
-
-
Other gains/(losses)
25
(4)
39
(25)
(4)
39
Sales and distribution expenses
(3,732)
(4,013)
(7,689)
(3,519)
(3,693)
(7,159)
Administration and operating expenses
(37,164)
(35,381)
(81,448)
(34,744)
(33,019)
(69,830)
Operating profit 16,355
14,109
41,088
16,538
14,305
40,854
Finance income 2,328
993
1,933
1,170
1,517
2,899
Finance expense
(444)
(2,787)
(6,798)
(444)
(637)
(1,152)
Profit before income tax 18,239
12,315
36,223
17,264
15,185
42,601
Income tax expense
(3,943)
(3,507)
(9,462)
(3,943)
(3,345)
(9,462)
Profit for the period 14,296
8,808
26,761
13,321
11,840
33,139
Other comprehensive income:
Currency translation differences (subject to subsequent recycling through profit or loss)
(1,210)
119
2,199
-
-
-
Other comprehensive income/(expense) for the period
(1,210)
119
2,199
-
-
-
Total comprehensive income for the period 13,086
8,927
28,960
13,321
11,840
33,139
Basic and diluted earnings per share (thebe) 7.23
4.93
16.01
7.36
6.54
18.32
{ Ç! Ç9 a 9 b Ç h C FINANCIAL POSITION Dwh Üt
COMPANY
Unaudited
Unaudited
Audited
Unaudited
Unaudited
Audited
Jun-16
Jun-15
Dec-15
Jun-16
Jun-15
Dec-15
P'000
P'000
P'000
P'000
P'000
P'000
ASSETS Non-current assets
Property, plant and equipment 146,704
140,251
142,576
143,563
137,229
139,204
Intangible assets Lease
rights/Trademarks/Software 950
875
781
836
875
781
Goodwill 11,456
12,905
11,335
5,274
5,274
5,274
Investment in subsidiary -
-
-
15,339
7
7
Loan to subsidiary -
-
-
-
13,987
13,300
Deferred income tax assets 2,244
2,827
4,284
2,244
2,827
4,284
Total non-current assets 161,354
156,858
158,976
167,256
160,199
162,850
Currents assets
Inventories 2,856
2,594
2,852
2,571
2,140
2,540
Loan to subsidiary -
-
-
-
2,148
2,258
Trade and other receivables 21,782
21,328
20,959
21,213
20,168
20,216
Current income tax assets 3,207
2,459
479
3,146
2,448
470
Cash and cash equivalents 58,862
49,204
61,835
57,978
48,129
61,064
Total current assets 86,707
75,585
86,125
84,908
75,033
86,548
Total assets 248,061
232,443
245,101
252,164
235,232
249,398
EQUITY Capital and reserves
Stated capital 18,500
18,500
18,500
18,500
18,500
18,500
Treasury shares (5,915)
(5,915)
(5,915)
(2,105)
(2,105)
(2,105)
Foreign currency translation reserve
1,021
151
2,231
-
-
-
Retained earnings 149,563
130,238
148,191
156,018
134,322
155,621
Total equity 163,169
142,974
163,007
172,413
150,717
172,016
LIABILITIES Non-current liabilities
Deferred lease obligation 29,429
30,244
30,589
27,784
28,935
29,209
Borrowings 10,679
15,055
12,856
10,679
15,055
12,856
Total non-current liabilities 40,108
45,299
43,445
38,463
43,990
42,065
Current liabilities
Trade and other payables 35,197
35,821
31,276
31,764
32,625
28,134
Current income tax liabilities -
44
-
-
17
-
Borrowings 4,989
5,023
4,277
4,989
5,023
4,277
Deferred revenue 1,822
1,423
1,615
1,822
1,423
1,615
Deferred lease obligation 2,776
1,859
1,481
2,713
1,437
1,291
Total current liabilities 44,784
44,170
38,649
41,288
40,525
35,317
Total liabilities 84,892
89,469
82,094
79,751
84,515
77,382
Total equity and liabilities 248,061
232,443
245,101
252,164
235,232
249,398
STATEMENT OF CHANGES IN EQUITY
Ordinary shares
Treasury shares
Foreign currency
translation reserve
Retained earnings
Total equity
P'000
P'000
P'000
P'000
P'000
GROUP Year ended 31 December 2015
Balance at 1 January 2015
18,500
(5,915)
32
132,508
145,125
Profit for the period
-
-
-
26,761
26,761
Other comprehensive income for the year
-
-
2,199
-
2,199
Total comprehensive income for the year
-
-
2,199
26,761
28,960
Transaction with owners of the company:
Gross dividends paid
-
-
-
(11,078)
(11,078)
-
-
-
(11,078)
(11,078)
Balance at 31 December 2015
18,500
(5,915)
2,231
148,191
163,007
Period ended 30 June 2016
Balance at 1 January 2016
18,500
(5,915)
2,231
148,191
163,007
Profit for the period
-
-
-
14,296
14,296
Other comprehensive income for the period
-
-
(1,210)
-
(1,210)
Total comprehensive income for the period
-
-
(1,210)
14,296
13,086
Transaction with owners of the company:
Gross dividends paid
-
-
-
(12,924)
(12,924)
-
-
-
(12,924)
(12,924)
Balance at 30 June 2016
18,500
(5,915)
1,021
149,563
163,169
COMPANY Year ended 31 December 2015
Balance at 1 January 2015
18,500
(550)
-
133,560
151,510
Profit for the year
-
-
-
33,139
33,139
Other comprehensive income for the year
-
-
-
-
-
Total comprehensive income for the year
-
-
-
33,139
33,139
Transaction with owners of the company:
Gross dividends paid
-
-
-
(11,078)
(11,078)
Acquisition of treasury shares
-
(1,555)
-
(1,555)
-
(1,555)
-
(11,078)
(12,633)
Balance at 31 December 2015
18,500
(2,105)
-
155,621
172,016
Period ended 30 June 2016
Balance at 1 January 2016
18,500
(2,105)
-
155,621
172,016
Profit for the period
-
-
-
13,321
13,321
Other comprehensive income for the period
-
-
-
-
-
Total comprehensive income for the period
-
-
-
13,321
13,321
Transaction with owners of the company:
Gross dividends paid
-
-
-
(12,924)
(12,924)
-
-
-
(12,924)
(12,924)
Balance at 30 June 2016
18,500
(2,105)
-
156,018
172,413
GROUP
COMPANY
STATEMENT OF CASHFLOWS Unaudited
Unaudited
Audited
Unaudited
Unaudited
Audited
6 months
6 months
12 months
6 months
6 months
12 months
Jun-16
Jun-15
Dec-15
Jun-16
Jun-15
Dec-15
P'000
P'000
P'000
P'000
P'000
P'000
Cash flows from operating activities
Cash generated from operations 30,803
30,659
67,730
29,907
30,502
65,508
Interest paid
(444)
(637)
(1,152)
(444)
(637)
(1,152)
Tax paid
(4,410)
(5,741)
(11,299)
(4,410)
(5,741)
(11,299)
Net cash generated from operating activities 25,949
24,281
55,279
25,053
24,124
53,057
Cash flows from investing activities
Purchase of property, plant and equipment
(14,935)
(9,420)
(25,910)
(14,747)
(9,048)
(23,958)
Purchase of computer software
(410)
(305)
(406)
(277)
(305)
(406)
Proceeds on disposal of plant and equipment
75
16
70
17
16
70
Loan repayments received from Employee Share Trust
-
-
-
-
103
102
Loan repayments received from subsidiary
-
-
-
226
751
1,328
Interest received 876
993
1,934
1,031
1,233
2,615
Net cash utilised in investing activities
(14,394)
(8,716)
(24,312)
(13,750)
(7,250)
(20,249)
Cash flows from financing activities
Repayment of borrowings
(2,061)
(1,813)
(3,857)
(2,061)
(1,813)
(3,857)
Dividends paid to company's shareholders
(12,924)
(11,078)
(11,078)
(12,924)
(11,078)
(11,078)
Net cash utilised in financing activities
(14,985)
(12,891)
(14,935)
(14,985)
(12,891)
(14,935)
Net (decrease)/increase in cash and cash equivalents
(3,430)
2,674
16,032
(3,682)
3,983
17,873
Cash and cash equivalents at beginning of year 61,735
45,801
45,801
60,964
43,091
43,091
Exchange loss on cash and cash equivalents
(139)
(326)
(98)
-
-
-
Cash and cash equivalents at end of year 58,166
48,149
61,735
57,282
47,074
60,964
Disclosed as follows;
Cash at bank
58,862
49,204
61,835
57,978
48,129
61,064
Bank overdraft
(696)
(1,055)
(100)
(696)
(1,055)
(100)
58,166
48,149
61,735
57,282
47,074
60,964
CLb ! b / L! [ I LDI [ LDI Ç{
WΡŧ ś 2016 WΡŧ ś ���� % change
P’000 P’000
Profit before tax
18,239 12,315 48%
Total comprehensive income 13,086 8,927 47%
Operating profit
16,355 14,109 16%
Revenues
159,939 150,110 7%
Total Assets
248,061 232,443 7%
Cash and cash equivalents 58,862 49,204 20%
Earnings per Share(thebe)
7.23 4.93 47%
GROUP
