AMOS : Unaudited Full Year Financial Statements And Related Announcement For The Period Ended 31 March 2021

AMOS GROUP LIMITED

(Company Registration Number: 201004068M)

UNAUDITED FULL YEAR FINANCIAL STATEMENTS AND RELATED ANNOUNCEMENT FOR THE PERIOD ENDED 31 MARCH 2021

PART I - INFORMATION REQUIRED FOR ANNOUNCEMENTS OF HALF-YEAR AND FULL YEAR RESULTS

1(a)(i) An income statement and statement of comprehensive income, or a statement of comprehensive income, for the group, together with a comparative statement for the corresponding period of the immediately preceding financial year

CONSOLIDATED INCOME STATEMENT
	Group		Group
	2nd Half Year Ended	Incr/	Financial Year Ended	Incr/
	31/03/2021	31/03/2020	(decr)	31/03/2021	31/03/2020	(decr)
	S$'000	S$'000	%	S$'000	S$'000	%
Revenue	50,904	61,874	(17.7)	108,521	128,622	(15.6)
Cost of sales	(42,748)	(53,981)	(20.8)	(89,550)	(107,905)	(17.0)
			3.3			(8.4)
Gross profit	8,156	7,893	18,971	20,717
Distribution costs	(4,589)	(5,484)	(16.3)	(8,680)	(11,605)	(25.2)
Administrative expenses	(11,725)	(13,050)	(10.2)	(22,498)	(27,526)	(18.3)
Other operating income	1,345	10,275	(86.9)	1,813	14,737	(87.7)
Other operating expenses	(4,124)	(3,584)	15.1	(8,179)	(5,442)	50.3
Finance cost	(780)	(1,007)	(22.5)	(1,633)	(2,166)	(24.6)
			136.4			79.1
Loss before income tax	(11,717)	(4,957)	(20,206)	(11,285)
Income tax expense	(21)	63	NM	(65)	62	NM
			139.8			80.6
Loss for the year	(11,738)	(4,894)	(20,271)	(11,223)
Loss attributable to:
Owners of the Company	(11,713)	(4,840)	142.0	(20,211)	(11,085)	82.3
Non-controlling interests	(25)	(54)	(53.7)	(60)	(138)	(56.5)
	(11,738)	(4,894)	139.8	(20,271)	(11,223)	80.6
Gross profit margin	16.0%	12.8%	25.6	17.5%	16.1%	8.5
Net loss margin	-23.1%	-7.9%	191.5	-18.7%	-8.7%	114.1
EBITDA(1) (S$'000)	(2,007)	(4,399)	(54.4)	(1,221)	(7,709)	(84.2)
EBITDA margin	-3.9%	-7.1%	(44.5)	-1.1%	-6.0%	(81.2)

1. : Denotes earnings before finance cost, taxes, other operating (expenses) income, provision for inventory adjustment to market price, depreciation and amortisation

NM: Not meaningful

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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
	Group		Group
	2nd Half Year Ended	Incr/	Financial Year Ended	Incr/
	31/03/2021	31/03/2020	(decr)	31/03/2021	31/03/2020	(decr)
	S$'000	S$'000	%	S$'000	S$'000	%
Loss for the year	(11,738)	(4,894)	139.8	(20,271)	(11,223)	80.6
Other comprehensive income
Items that are or may be reclassified subsequently to profit or loss:
Translation gain (loss) arising on consolidation	65	(259)	NM	273	(428)	NM
Other comprehensive income for the year, net
65	(259)	NM	273	(428)	NM
of tax
Total comprehensive income for the period	(11,673)	(5,153)	126.5	(19,998)	(11,651)	71.6
Total comprehensive income attributable to:
Owners of the Company	(11,649)	(5,101)	128.4	(19,936)	(11,513)	73.2
Non-controlling interests	(24)	(52)	(53.8)	(62)	(138)	(55.1)
	(11,673)	(5,153)	126.5	(19,998)	(11,651)	71.6

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1(a)(ii) Loss before income tax is arrived at after charging/(crediting) the following:

	Group		Group
	2nd Half Year Ended	Incr/	Financial Year Ended	Incr/
	31/03/2021	31/03/2020	(decr)	31/03/2021	31/03/2020	(decr)
	S$'000	S$'000	%	S$'000	S$'000	%
Acquisition and restructuring cost	607	2,213	(72.6)	1,178	3,572	(67.0)
Amortization of intangible assets	397	97	309.3	688	97	609.3
Depreciation	3,415	3,691	(7.5)	6,803	7,231	(5.9)
Depreciation - Right of use assets (ROU)	1,132	755	49.9	2,288	1,678	36.4
Foreign exchange loss / (gain)	479	(775)	NM	1,609	(510)	NM
Impairment of trade receivables	605	1,551	(61.0)	1,094	1,523	(28.2)
Interest expense	780	1,007	(22.5)	1,633	2,166	(24.6)
Gain on disposal of assets held for sale	(6)	(10,019)	(99.9)	(6)	(14,411)	(100.0)
Inventory adjustment to market price	1,207	1,699	(29.0)	1,207	1,699	(29.0)
Impairment of assets held for sales	-	109	(100.0)	959	109	779.8

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1(b)(i) A statement of financial position (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year

STATEMENTS OF FINANCIAL POSITION

	Group		Company
	31/03/2021	31/03/2020	31/03/2021	31/03/2020
	S$'000	S$'000		S$'000	S$'000
ASSETS
Current assets
Cash and bank balances	10,137	18,881	229	564
Trade receivables	26,238	32,056	2,683	-
Contract assets	2,368	1,859	1,095	2,860
Other receivables	4,548	4,818	296	405
Income tax receivables	40	62	-	-
Inventories	41,404	53,333		-	-
	84,735	111,009	4,303	3,829
Assets held for sale	-	3,323		-	-
Total current assets	84,735	114,332	4,303	3,829
Non-current assets
Property, plant and equipment	66,603	73,121	58	130
Right of use assets	7,927	7,339	8	41
Club membership	27	27	-	-
Intangible assets	3,774	3,245	3,775	3,245
Deferred tax assets	329	326	-	-
Subsidiary	-	-	160,940	161,617
Associates	42	42		-	-
Total non-current assets	78,702	84,100		164,781	165,033
Total assets	163,437	198,432	169,084	168,862
LIABILITIES AND EQUITY
Current liabilities
Trade payables	15,812	27,226	-	-
Contract liabilities	3,691	909	-	-
Other payables	10,470	12,153	2,491	1,935
Provision	408	408	-	-
Current portion of bank borrowings	30,259	13,896	-	-
Current portion of lease liabilities	3,052	2,207	1,497	889
Income tax payable	6	131		-	-
Total current liabilities	63,698	56,930	3,988	2,824
Non-current liabilities
Bank borrowings	-	22,178	-	-
Lease liabilities	8,108	7,694	1,452	1,467
Deferred tax liabilities	20	21	-	-
Total non-current liabilities	8,128	29,893		1,452	1,467
Total liabilities	71,826	86,823		5,440	4,291
Net assets	91,611	111,609	163,644	164,571

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STATEMENTS OF FINANCIAL POSITION - continued
	Group		Company
	31/03/2021	31/03/2020	31/03/2021	31/03/2020
	S$'000	S$'000		S$'000	S$'000
Capital, reserves and non-controlling interests
Share capital	166,256	166,256	166,256	166,256
Accumulated losses	(76,026)	(55,815)	(2,612)	(1,685)
Translation reserve	914	639	-	-
Other reserve	598	598	-	-
Equity attributable to owners of the Company	91,742	111,678	163,644	164,571
Non-controlling interests	(131)	(69)	-	-
Total equity	91,611	111,609	163,644	164,571
Total liabilities and equity	163,437	198,432	169,084	168,862

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