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.