VICOM LTD
Company Registration Number : 198100320K
Unaudited Condensed Interim Consolidated Financial Statements for the
Half year ended 30 June 2023 and Dividend Announcement
CONTENTS
Page | |
A. CONDENSED INTERIM GROUP INCOME STATEMENT | 1 |
B. CONDENSED INTERIM GROUP COMPREHENSIVE INCOME STATEMENT | 2 |
C. CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION | 3 |
D. CONDENSED INTERIM GROUP CASH FLOW STATEMENT | 4 |
E. CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY | 5 |
F. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL | 7 |
STATEMENTS | |
G. OTHER INFORMATION REQUIRED BY LISTING RULE APPENDIX 7.2 | 14 |
A CONDENSED INTERIM GROUP INCOME STATEMENT
Note | |
Revenue | 5 |
Staff costs | |
Depreciation and amortisation | |
Contract services | |
Materials and consumables | |
Premises costs | |
Repairs and maintenance costs | |
Utilities and communication costs | |
Other operating costs | |
Total operating costs | |
Operating Profit | |
Finance costs | |
Interest income | |
Profit before Taxation | |
Taxation | 7 |
Profit after Taxation | 8 |
Attributable to: | |
Shareholders of the Company | |
Non-Controlling Interests |
Page 1 of 16
1st Half | 1st Half | Incr/ |
2023 | 2022 | (Decr) |
$'000 | $'000 | % |
55,880 | 53,331 | 4.8 |
(26,602) | (24,720) | 7.6 |
(3,724) | (3,572) | 4.3 |
(1,156) | (1,460) | (20.8) |
(1,766) | (1,573) | 12.3 |
(985) | (964) | 2.2 |
(977) | (853) | 14.5 |
(1,432) | (1,530) | (6.4) |
(2,661) | (2,135) | 24.6 |
(39,303) | (36,807) | 6.8 |
16,577 | 16,524 | 0.3 |
(428) | (426) | 0.5 |
978 | 163 | 500.0 |
17,127 | 16,261 | 5.3 |
(2,981) | (2,963) | 0.6 |
14,146 | 13,298 | 6.4 |
13,932 | 13,106 | 6.3 |
214 | 192 | 11.5 |
14,146 | 13,298 | 6.4 |
Page 2 of 16 | |||
B | CONDENSED INTERIM GROUP COMPREHENSIVE INCOME STATEMENT | ||
Group | |||
1st Half | 1st Half | ||
2023 | 2022 | ||
$'000 | $'000 | ||
Profit after taxation | 14,146 | 13,298 | |
Items that may be reclassified subsequently to profit or loss | |||
Exchange differences arising on translation | |||
of foreign operations | (68) | (34) | |
Items that will not be reclassified subsequently to profit or loss | |||
Fair value adjustment on equity investments | 862 | 66 | |
Other comprehensive income for the period | 794 | 32 | |
Total comprehensive income for the period | 14,940 | 13,330 | |
Total comprehensive income attributable to: | |||
Shareholders of the Company | 14,726 | 13,138 | |
Non-controlling interests | 214 | 192 | |
14,940 | 13,330 | ||
Earnings per share for profit for the period attributable to the owners of the | |||
Company during the year : | |||
Basic and diluted (in cents) | 3.93 | 3.70 |
Page 3 of 16
C CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION
ASSETS
Current assets
Cash and cash equivalents Trade receivables
Other receivables and prepayments Inventories
Total current assets
Non-current assets Prepayments Subsidiaries Associate
Financial assets at fair value through other comprehensive income
Vehicles, premises and equipment Goodwill
Deferred tax assets* Total non-current assets
Total assets
LIABILITIES AND EQUITY
Group | Company | ||||||
30 Jun | 31 Dec | 30 Jun | 31 Dec | ||||
2023 | 2022 | 2023 | 2022 | ||||
Note | $'000 | $'000 | $'000 | $'000 | |||
(Restated) | (Restated) | ||||||
50,042 | 60,491 | 46,793 | 56,374 | ||||
13,929 | 12,161 | 2,354 | 2,264 | ||||
2,807 | 1,522 | 5,225 | 542 | ||||
46 | 10 | - | - | ||||
66,824 | 74,184 | 54,372 | 59,180 | ||||
- | 1,955 | - | - | ||||
- | - | 25,941 | 25,941 | ||||
25 | 25 | - | - | ||||
11 | 6,434 | 3,217 | 6,434 | 3,217 | |||
13 | 103,317 | 96,259 | 32,631 | 32,722 | |||
12 | 11,325 | 11,325 | - | - | |||
- | - | 1,269 | 1,260 | ||||
121,101 | 112,781 | 66,275 | 63,140 | ||||
187,925 | 186,965 | 120,647 | 122,320 |
Current liabilities | ||||||||
Trade and other payables | 21,342 | 24,130 | 6,078 | 6,951 | ||||
Due to subsidiaries | - | - | 19,098 | 30,595 | ||||
Provision for relocation costs | 306 | 306 | - | - | ||||
Lease liabilities | 14 | 1,098 | 944 | 641 | 624 | |||
Income tax payable | 5,780 | 5,425 | 3,263 | 3,113 | ||||
Total current liabilities | 28,526 | 30,805 | 29,080 | 41,283 | ||||
Non-current liabilities | ||||||||
Other payables | 720 | 720 | - | - | ||||
Deferred tax liabilities* | 151 | 93 | - | - | ||||
Lease liabilities | 14 | 30,229 | 30,216 | 24,006 | 23,929 | |||
Total non-current liabilities | 31,100 | 31,029 | 24,006 | 23,929 | ||||
Total liabilities | 59,626 | 61,834 | 53,086 | 65,212 | ||||
Capital, reserves and | ||||||||
non-controlling interests | ||||||||
Share capital | 15 | 36,284 | 36,284 | 36,284 | 36,284 | |||
Other reserves | 4,870 | 4,008 | 4,870 | 4,008 | ||||
Foreign currency translation reserve | (159) | (91) | - | - | ||||
Accumulated profits* | 86,176 | 84,016 | 26,407 | 16,816 | ||||
Equity attributable to | ||||||||
shareholders of the Company | 127,171 | 124,217 | 67,561 | 57,108 | ||||
Non-controlling interests* | 1,128 | 914 | - | - | ||||
Total equity | 128,299 | 125,131 | 67,561 | 57,108 | ||||
Total liabilities and equity | 187,925 | 186,965 | 120,647 | 122,320 |
*Following the amendment of SFRS(I) 1-12 effective from 1 Jan 2023, deferred tax assets, deferred tax liabilities, accumulated profits and non-controlling interests have been restated retrospectively. Please refer to paragraph 2 for further details.
Page 4 of 16
D | CONDENSED INTERIM GROUP CASH FLOW STATEMENT | ||||
Group | |||||
1st Half | 1st Half | ||||
2023 | 2022 | ||||
Note | $'000 | $'000 | |||
Operating activities | |||||
Profit before taxation | 17,127 | 16,261 | |||
Adjustments for: | |||||
Depreciation of property, plant and equipment | 3,724 | 3,572 | |||
Interest expense | 428 | 426 | |||
Interest income | (978) | (163) | |||
(Gain) Loss on disposal of vehicles, premises and equipment | (26) | 11 | |||
Write-back of allowance for expected credit losses | (175) | (607) | |||
Operating cash flows before movements in working capital | 20,100 | 19,500 | |||
Trade receivables | (1,593) | (1,011) | |||
Other receivables and prepayments | (1,320) | (818) | |||
Inventories | (36) | 2 | |||
Trade and other payables | (2,955) | (2,134) | |||
Cash generated from operations | 14,196 | 15,539 | |||
Interest paid | (428) | (426) | |||
Income tax paid | (2,568) | (2,886) | |||
Net cash from operating activities | 11,200 | 12,227 | |||
Investing activities | |||||
Purchase of vehicles, premises and equipment | 13 | (2,686) | (2,669) | ||
Purchases of unquoted equity instruments held at FVTOCI | (2,355) | - | |||
Proceeds from disposal of vehicles, premises and equipment | 26 | 37 | |||
Interest received | 1,013 | 137 | |||
Net cash used in investing activities | (4,002) | (2,495) | |||
Financing activities | |||||
Payments to non-controlling interests | - | (240) | |||
Payment of lease liabilities | (5,835) | (536) | |||
Dividends paid | 9 | (11,772) | (18,579) | ||
Net cash used in financing activities | (17,607) | (19,355) | |||
Net effect of exchange rate changes in consolidating | |||||
subsidiaries | (40) | (18) | |||
Net decrease in cash and cash equivalents | (10,449) | (9,641) | |||
Cash and cash equivalents at beginning of period | 60,491 | 75,360 | |||
Cash and cash equivalents at end of period | 50,042 | 65,719 | |||
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VICOM Ltd. published this content on 11 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2023 11:21:05 UTC.