DEL MONTE PACIFIC LI

D03
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REPL::Financial Statements and Related Announcement::First Quarter Results

09/10/2021 | 12:32am

Del Monte Pacific Limited and its Subsidiaries

Unaudited Interim Condensed Consolidated

Financial Statements

As of 31 July 2021

and for the Periods Ended 31 July 2021 and 2020

(With Comparative Audited Consolidated Statement of

Financial Position as at 30 April 2021)

Del Monte Pacific Limited and its Subsidiaries

Unaudited Interim Condensed Consolidated Financial Statements

As of 31 July 2021 and for the periods ended 31 July 2021 and 2020

Unaudited Interim Consolidated Statements of Financial Position

(With Comparative Audited Figures as at 30 April 2021)

Note

As at

As at

31 July 2021

30 April 2021

US$'000

US$'000

(Unaudited)

(Audited)

Noncurrent assets

Property, plant and equipment - net

6

534,804

544,776

Right-of-use assets

24

125,650

135,208

Investments in joint ventures

8

21,677

22,530

Intangible assets and goodwill

7

693,034

694,697

Deferred tax assets - net

128,089

130,538

Biological assets

10

2,634

2,655

Pension assets

7,147

7,889

Other noncurrent assets

9

22,243

25,325

1,535,278

1,563,618

Current assets

Biological assets

10

43,285

44,913

Inventories

11

681,878

557,602

Trade and other receivables

12, 18

184,953

185,049

Prepaid expenses and other current assets

13

42,840

37,286

Cash and cash equivalents

14, 18

19,582

29,435

Noncurrent assets held for sale

6

753

-

973,291

854,285

Total assets

2,508,569

2,417,903

Equity

Share capital

22

49,449

49,449

Share premium

478,339

478,339

Retained earnings

78,361

83,349

Reserves

(34,990)

(29,953)

Equity attributable to owners of the Company

571,159

581,184

Non-controlling interests

61,697

61,312

Total equity

632,856

642,496

Noncurrent liabilities

Loans and borrowings

15, 18

945,234

953,290

Lease liabilities

24

89,484

103,690

Employee benefits

31,861

31,866

Environmental remediation liabilities

265

7,429

Deferred tax liabilities - net

6,805

6,599

Other noncurrent liabilities

16

18,864

18,697

1,092,513

1,121,571

Current liabilities

Loans and borrowings

15, 18

378,036

332,453

Lease liabilities

24

26,580

25,113

Employee benefits

30,353

38,275

Trade and other current liabilities

17, 18

341,977

254,729

Current tax liabilities

6,254

3,266

783,200

653,836

Total liabilities

1,875,713

1,775,407

Total equity and liabilities

2,508,569

2,417,903

The accompanying notes form an integral part of these unaudited interim condensed

FS2

consolidated financial statements.

Del Monte Pacific Limited and its Subsidiaries

Unaudited Interim Condensed Consolidated Financial Statements

As of 31 July 2021 and for the periods ended 31 July 2021 and 2020

Unaudited Interim Consolidated Statements of Income

Three months ended

31

July

Note

2021

2020

US$'000

US$'000

Revenue

462,134

413,058

Cost of sales

(328,714)

(318,952)

Gross profit

133,420

94,106

Distribution and selling expenses

(42,818)

(37,642)

General and administrative expenses

21

(32,148)

(35,057)

Other expense - net

(1,681)

(757)

Results from operating activities

56,773

20,650

Finance income

1,726

2,513

Finance expense

(26,444)

(27,091)

Net finance expense

(24,718)

(24,578)

Share in net loss of joint ventures

4

(1,042)

(701)

Profit (loss) before taxation

31,013

(4,629)

Tax expense - current

(7,077)

(12,494)

Tax benefit - deferred

(1,856)

15,103

(8,933)

2,609

Profit (loss) for the period

22,080

(2,020)

Profit (loss) attributable to:

Non-controlling interest

3,758

1,229

Owners of the Company

18,322

(3,249)

Earnings / (loss) per share

Basic earnings (loss) per share (U.S. cents)

23

0.69

(0.42)

Diluted earnings (loss) per share (U.S. cents)

23

0.69

(0.42)

The accompanying notes form an integral part of these unaudited interim condensed

FS3

consolidated financial statements.

Del Monte Pacific Limited and its Subsidiaries

Unaudited Interim Condensed Consolidated Financial Statements

As of 31 July 2021 and for the periods ended 31 July 2021 and 2020

Unaudited Interim Consolidated Statements of Comprehensive Income

Three months ended

31 July

2021

2020

US$'000

US$'000

Profit (loss) for the period

22,080

(2,020)

Other comprehensive income (loss)

Items that will not be reclassified subsequently to

profit or loss

Share in remeasurement of retirement plans

24

3,673

Tax impact on share in remeasurement of

retirement plans

(3)

(894)

21

2,779

Items that may be reclassified subsequently to

profit or loss

Share in currency translation differences

(7,022)

4,213

Share in effective portion of changes in fair value

of cash flow hedges of a subsidiary

1,498

1,855

Tax impact on share in cash flow hedges

(367)

(455)

(5,891)

5,613

Other comprehensive income (loss)

for the period, net of tax

(5,870)

8,392

Total comprehensive income for the period

16,210

6,372

Total comprehensive income attributable to:

Owners of the Company

13,285

4,296

Non-controlling interests

2,925

2,076

16,210

6,372

The accompanying notes form an integral part of these unaudited interim condensed

consolidated financial statements.

FS4

Del Monte Pacific Limited and its Subsidiaries

Unaudited Interim Condensed Consolidated Financial Statements

As of 31 July 2021 and for the periods ended 31 July 2021 and 2020

Unaudited Interim Consolidated Statements of Changes in Equity

Three months ended 31 July 2021 and 2020

Fiscal Year 2022

At 1 May 2021

Total comprehensive income (loss) for the period

Profit for the period (Note 23)

Other comprehensive income

Currency translation differences Remeasurement of retirement plans Effective portion of changes in fair

value of cash flow hedges

Total other comprehensive income (loss)

Total comprehensive income (loss) for the period

<----------------------------------------------

Attributable to owners of the Company --------------------------------------

>

Remeasure -

Revalua-

ment of

Share

Reserve

Non-

Share

Share

Translation

tion

retirement

Hedging

option

for own

Retained

controlling

Total

capital

premium

reserve

reserve

plans

reserve

reserve

shares

earnings

Total

interests

equity

US$'000

US$'000 US$'000

US$'000

US$'000

US$'000

US$'000

US$'000

US$'000

US$'000

US$'000

US$'000

(Note 22)

(Note 22)

49,449

478,339

(81,971)

14,278

35,049

1,224

1,753

(286)

83,349

581,184

61,312

642,496

-

-

-

-

-

-

-

-

18,322

18,322

3,758

22,080

-

-

(6,115)

-

-

-

-

-

-

(6,115)

(907)

(7,022)

-

-

-

-

20

-

-

-

-

20

1

21

-

-

-

-

-

1,058

-

-

-

1,058

73

1,131

-

-

(6,115)

-

20

1,058

-

-

-

(5,037)

(833)

(5,870)

-

-

(6,115)

-

20

1,058

-

-

18,322

13,285

2,925

16,210

Transactions with owners of the Company

recognized directly in equity

Contributions by and distributions

to owners of the Company

Payment of dividends

-

-

-

-

-

-

-

-

(23,310)

(23,310)

(2,540)

(25,850)

Total contributions by and

distributions to owners

-

-

-

-

-

-

-

-

(23,310)

(23,310)

(2,540)

(25,850)

At 31 July 2021

49,449

478,339

(88,086)

14,278

35,069

2,282

1,753

(286)

78,361

571,159

61,697

632,856

The accompanying notes form an integral part of these unaudited condensed consolidated

FS5

interim financial statements.`

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Del Monte Pacific Limited published this content on 10 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 September 2021 04:31:04 UTC.

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