Financial Management and Control
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PGBM01FinancialStatementsRatios-Copy1.xlsxBalance Sheet Kimly
| Statements of Financial Position As at 30 September 2020 | |||
| ( Amounts in Singapore Dollars) | |||
| Group | |||
| 2020 $'000 | 2019 $'000 | 2018 $'000 | |
| Assets | |||
| Non-current assets | |||
| Property, plant and equipment owned | 73,223 | 9,724 | 10,326 |
| Investment properties owned | 7,090 | - | - |
| Intangible assets | 4,409 | 5,961 | 4,297 |
| Right-of-use assets | 135,595 | - | - |
| Investment in subsidiaries | - | - | - |
| Investment in an associate and joint ventures | 9,733 | - | - |
| Deferred tax assets | 240 | 354 | 292 |
| Other receivables | 5,815 | 6,072 | 8,110 |
| 236,105 | 22,111 | 23,025 | |
| Current assets | |||
| Trade and other receivables | 13,381 | 8,409 | 19,281 |
| Inventories | 1,701 | 1,129 | 1,015 |
| Prepayments | 316 | 2,199 | 778 |
| Cash and cash equivalents | 68,324 | 87,189 | 71,669 |
| 83,722 | 98,926 | 92,743 | |
| Total assets | 319,827 | 121,037 | 115,768 |
| Current liabilities | |||
| Trade and other payables | 23,475 | 19,638 | 19,418 |
| Other liabilities | 15,408 | 7,619 | 7,126 |
| Interest-bearing loans and borrowings | 1,104 | - | - |
| Lease liabilities | 33,181 | - | - |
| Obligation under finance lease | - | 27 | 26 |
| Provision for restoration costs | 177 | 496 | 272 |
| Provision for taxation | 5,788 | 3,900 | 3,473 |
| 79,133 | 31,680 | 30,315 | |
| Net current assets | 4,589 | 67,246 | 62,428 |
| Non-current liabilities | |||
| Interest-bearing loans and borrowings | 24,410 | - | - |
| Lease liabilities | 103,953 | - | - |
| Obligation under finance lease | - | 20 | 46 |
| Deferred tax liabilities | 447 | 367 | 399 |
| Other payables | 963 | 693 | 804 |
| Provision for restoration costs | 716 | 384 | 618 |
| 130,489 | 1,464 | 1,867 | |
| Total liabilities | 209,622 | 33,144 | 32,182 |
| Net assets | 110,205 | 87,893 | 83,586 |
| Equity attributable to owners of the Company | |||
| Share capital | 297,141 | 287,141 | 287,141 |
| Treasury shares | -2,424 | -2,334 | -843 |
| Share-based compensation reserve | 140 | 34 | - |
| Other reserves | -120,123 | -120,123 | -120,123 |
| Premium paid on acquisition of non-controlling interests | -113,030 | -113,030 | -113,030 |
| Retained earnings | 48,501 | 36,205 | 30,441 |
| Total equity | 110,205 | 87,893 | 83,586 |
| Total equity and liabilities | 319,827 | 121,037 | 115,768 |
Income Statement Kimly
| Consolidated Statement of Comprehensive Income For the financial year ended 30 September 2020 | |||
| ( Amounts in Singapore Dollars) | |||
| 2020 $'000 | 2019 $'000 | 2018 $'000 | |
| Revenue | 210,773 | 208,299 | 202,213 |
| Cost of sales | -154,258 | -167,612 | -162,026 |
| Gross profit | 56,515 | 40,687 | 40,187 |
| Other items of income | |||
| Finance income | 985 | 1,583 | 645 |
| Other operating income | 3,266 | 2,903 | 2,972 |
| Other items of expense | |||
| Selling and distribution expenses | -7,611 | -5,258 | -4,022 |
| Administrative expenses | -18,058 | -15,384 | -13,973 |
| Finance costs | -3,671 | -4 | -156 |
| Other operating expenses | -1,779 | -584 | -584 |
| Share of profit of an associate and joint ventures | 49 | - | - |
| Profit before tax | 29,696 | 23,943 | 25,069 |
| Income tax expense | -4,471 | -3,890 | -3,186 |
| Profit for the year, representing total comprehensive income for the year and attributable to owners of the Company | 25,225 | 20,053 | 21,883 |
| Earnings per share (cents per share) | |||
| - Basic | 2.18 | 1.74 | 1.89 |
| - Diluted | 2.18 | 1.74 | 1.89 |
Cash Flows Statement Kimly
| Consolidated Statement of Cash Flows For the financial year ended 30 September 2020 | |||
| ( Amounts in Singapore Dollars) | |||
| 2020 $'000 | 2019 $'000 | 2018 $'000 | |
| Operating activities | |||
| Profit before tax | 29,696 | 23,943 | 25,069 |
| Adjustments for: | |||
| Finance costs | - | - | 156 |
| Amortisation of intangible assets | 807 | 573 | 335 |
| Depreciation of property, plant and equipment | 3,925 | 3,056 | 2,526 |
| Depreciation of right-of-use assets | 31,656 | - | - |
| Depreciation of investment properties | 40 | - | - |
| Gain on disposal of property, plant and equipment | - | -9 | - |
| Impairment loss on property, plant and equipment | 185 | - | - |
| Impairment loss on intangible assets | 777 | - | - |
| Interest expense on lease liabilities | 3,499 | - | - |
| Interest expense on loans and borrowings | 172 | 4 | - |
| Interest income arising from the discount implicit in non-current receivables | -214 | -455 | - |
| Interest income on short-term deposits | -771 | -1,128 | -645 |
| Share of profit of an associate and joint ventures | -49 | - | - |
| Share-based payments (Kimly Performance Share Plan) | 166 | 34 | - |
| Write-off of property, plant and equipment | 10 | 10 | 248 |
| Total adjustments | 40,203 | 2,085 | 2,620 |
| Operating cash flows before changes in working capital | 69,899 | 26,028 | 27,689 |
| Changes in working capital | |||
| (Increase)/decrease in trade and other receivables | -5,097 | 13,458 | -17,766 |
| Increase in inventories | -572 | -114 | 202 |
| Decrease/(increase) in prepayments | 68 | -1,770 | -488 |
| Increase in trade and other payables | 4,262 | 718 | -127 |
| Increase in other liabilities | 7,789 | 492 | -24 |
| Total changes in working capital | 6,450 | 12,784 | -18,203 |
| Cash flows from operations | 76,349 | 38,812 | 9,486 |
| Interest received | 925 | 1,034 | 663 |
| Interest paid | - | -4 | -1 |
| Income taxes paid | -2,389 | -3,412 | -2,913 |
| Net cash flows generated from operating activities | 74,885 | 36,430 | 7,235 |
| Investing activities | |||
| Invesment in an associate and joint ventures | -9,684 | - | - |
| Purchase of property, plant and equipment | -56,029 | -2,695 | -4,322 |
| Purchase of investment properties | -7,130 | - | - |
| Purchase of intangible assets | -90 | -2,438 | -2,537 |
| Proceeds from disposal of property, plant and equipment | - | 28 | - |
| Net cash outflow on acquisition of businesses | - | - | -1,820 |
| Net cash flows used in investing activities | -72,933 | -5,105 | -8,679 |
| Financing activities | |||
| Dividends paid on ordinary shares | -12,929 | -14,289 | -11,115 |
| Interest expenses on lease liabilities paid | -3,499 | - | - |
| Interest expense on loans and borrowings paid | -172 | - | - |
| Proceeds from loans and borrowings | 25,815 | - | - |
| Purchase of treasury shares | -150 | -1,491 | -843 |
| Repayment of lease liabilities | -29,581 | - | - |
| Repayment of loans and borrowings | -301 | - | - |
| Repayment of obligation under finance lease | - | -25 | -8 |
| Net cash flows used in financing activities | -20,817 | -15,805 | -11,966 |
| Net (decrese)/increase in cash and cash equivalents | -18,865 | 15,520 | -13,410 |
| Cash and cash equivalents at 1 October | 87,189 | 71,669 | 85,079 |
| Cash and cash equivalents at 30 September | 68,324 | 87,189 | 71,669 |
Gearing Ratios
| Gearing Ratios | Company | 2020 | 2019 | 2018 |
| Debt to Asset Ratio (%) = Total Liabilities/Total Assets *100 | Kimly | = 209622/319827 *100 = 65.5% | = 33144/121037 *100 = 27.4% | = 32182/115768 *100 = 27.8% |
| Jumbo | = (24886 + 13790)/96002 *100 = 40.3% | = (17987 + 370)/90334 *100 = 20.3% | = (18151 + 301)/87960 *100 = 21.0% | |
| Equity to Asset Ratio (%) = Total Equity/Total Assets *100 | Kimly | = 110205/319827 *100 = 34.5% | = 87893/121037 *100 = 72.6% | = 83586/115768 *100 = 72.2% |
| Jumbo | = 57326/96002 *100 = 59.7% | = 71977/90334 *100 = 79.7% | = 69508/87960 *100 = 79.0% | |
| Debt Equity Ratio (%) = Total Liabilities/Total Equity *100 | Kimly | = 209622/110205 *100 = 190.2% | = 33144/87893 *100 = 37.7% | = 32182/83586 *100 = 38.5% |
| Jumbo | = (24886 + 13790)/57326 *100 = 67.5% | = (17987 + 370)/71977 *100 = 25.5% | = (18151 + 301)/69508 *100 = 26.5% |
