cresta marakanelo limited fy 2015 financial results
TRANSCRIPT
STATEMENT OF COMPREHENSIVE INCOME GROUP
COMPANY
2015
2014
2015
2014
P'000
P'000
P'000
P'000
Revenue 319,603
303,195
296,279
279,465
Cost of sales (190,482)
(177,519)
(178,475)
(165,635)
Gross profit 129,121
125,676
117,804
113,830
Other income 1,065
1,514
-
427
Other gains-net 39
27
39
27
Sales and distribution expenses (7,689)
(9,239)
(7,159)
(8,571)
Administration and operating expenses (81,448)
(83,119)
(69,830)
(69,259)
Operating profit 41,088
34,859
40,854
36,454
Finance income 1,933
614
2,899
2,424
Finance expense (6,798)
(3,170)
(1,152)
(1,774)
Profit before income tax 36,223
32,303
42,601
37,104
Income tax expense (9,462)
(8,245)
(9,462)
(8,245)
Profit for the year 26,761
24,058
33,139
28,859
Other comprehensive income:
Currency translation differences (subject to subsequent recycling through profit or loss) 2,199
40
-
-
Total comprehensive income for the year 28,960
24,098
33,139
28,859
Basic and diluted earnings per share (thebe) 16.01
13.32
18.32
15.63
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COMPANY
2015
2014
2015
2014
P'000
P'000
P'000
P'000
ASSETS Non-current assets
Property, plant and equipment 142,576
143,581
139,204
138,969
Intangible assets
Lease rights/Trade marks/Software 781
748
781
748
Goodwill 11,335
13,878
5,274
5,274
Investment in subsidiary -
-
7
7
Loan to subsidiary -
-
13,300
14,948
Loan receivable-Cresta Employee Staff Plan -
-
-
1,373
Deferred income tax assets 4,284
4,216
4,284
4,216
Total non-current assets 158,976
162,423
162,850
165,535
Currents assets
Inventories 2,853
2,919
2,540
2,411
Loan to subsidiary -
-
2,258
1,938
Trade and other receivables 20,959
18,015
20,216
17,529
Current income tax assets 479
11
470
-
Cash and cash equivalents 61,835
45,801
61,064
43,091
Total current assets 86,126
66,746
86,548
64,969
Total assets 245,102
229,169
249,398
230,504
EQUITY Capital and reserves
Stated capital 18,500
18,500
18,500
18,500
Treasury Shares (5,915)
(5,915)
(2,105)
(550)
Foreign currency translation reserve 2,231
32
-
-
Retained earnings 148,191
132,508
155,621
133,560
Total equity 163,007
145,125
172,016
151,510 LIABILITIES
Non-current liabilities
Deferred lease obligation 30,590
28,972
29,209
27,621
Borrowings 12,856
17,227
12,856
17,227 Total non-current liabilities 43,446
46,199
42,065
44,848
Current liabilities
Trade and other payables 31,276
29,699
28,134
26,423
Current income tax liabilities -
1,298
-
1,297
Borrowings 4,277
3,663
4,277
3,663
Deferred revenue 1,615
1,326
1,615
1,326 Deferred lease obligation 1,481
1,859
1,291
1,437
Total current liabilities 38,649
37,845
35,317
34,146 Total liabilities 82,095
84,044
77,382
78,994
Total equity and liabilities 245,102
229,169
249,398
230,504
STATEMENT OF CHANGES IN EQUITY
Ordinary
shares
Treasury Shares
Foreign currency
translation reserve
Retained
earnings
Total
equity
P'000
P'000
P'000
P'000
P'000
GROUP
Year ended 31 December 2014
Balance at 1 January 2014
18,500
(5,915)
(8)
117,510
130,087
Profit for the year
-
-
-
24,058
24,058
Comprehensive income for the year
-
-
40
-
40
Total comprehensive income for the year
-
-
40
24,058
24,098
Transaction with owners of the company
Gross dividends paid
-
-
-
(9,060)
(9,060)
-
-
-
(9,060)
(9,060)
Balance at 31 December 2014
18,500
(5,915)
32
132,508
145,125
Year ended 31 December 2015
Balance at 1 January 2015
18,500
(5,915)
32
132,508
145,125
Profit for the year
-
-
-
26,761
26,761
Comprehensive income for the year
-
-
2,199
-
2,199
Total comprehensive income for the year
-
-
2,199
26,761
28,960
Transaction with owners of the company
Gross dividends paid
-
-
-
(11,078)
(11,078)
-
-
-
(11,078)
(11,078)
Balance at 31 December 2015
18,500
(5,915)
2,231
148,191
163,007
COMPANY
Year ended 31 December 2014
Balance at 1 January 2014
18,500
(550)
-
113,933
131,883
Profit for the year
-
-
-
28,859
28,859
Comprehensive income for the year
-
-
-
-
-
Total comprehensive income for the year
-
-
-
28,859
28,859
Transaction with owners of the company
Gross dividends paid
-
-
-
(9,232)
(9,232)
-
-
-
(9,232)
(9,232)
Balance at 31 December 2014
18,500
(550)
-
133,560
151,510
Year ended 31 December 2015
Balance at 1 January 2015
18,500
(550)
-
133,560
151,510
Profit for the year
-
-
-
33,139
33,139
Comprehensive income for the year
-
-
-
-
-
Total comprehensive income for the year
-
-
-
33,139
33,139
Transaction with owners of the company
Gross dividends paid
-
-
-
(11,078)
(11,078)
Acquisition of treasury shares
-
(1,555)
-
-
(1,555)
-
(1,555)
-
(11,078)
(12,633)
Balance at 31 December 2015
18,500
(2,105)
-
155,621
172,016
STATEMENT OF CASH FLOWS
GROUP
COMPANY
2015
2014
2015
2014
P'000
P'000
P'000
P'000
Cash flows from operating activities
Cash generated from operations
67,729
71,570
65,508
69,874
Interest paid
(1,152)
(1,774)
(1,152)
(1,774)
Tax paid
(11,299)
(8,580)
(11,299)
(8,580)
Net cash generated from operating activities
55,278
61,216
53,057
59,520
Cash flows from investing activities
Purchase of property, plant and equipment
(25,910)
(19,233)
(23,958)
(18,383)
Purchase of computer software
(406)
(788)
(406)
(788)
Proceeds on disposal of plant and equipment
70
137
70
137
Loan repayments received from Employee Share Trust
-
-
103
85
Loan (provided to)/repayments received from subsidiary
-
-
1,328
(132)
Interest received (excluding capitalised portion of Employee Share Trust)
1,934
590
2,615
1,822
Net cash utilised in investing activities
(24,312)
(19,294)
(20,248)
(17,259)
Cash flows from financing activities
Repayment of borrowings
(3,858)
(7,166)
(3,858)
(7,166)
Dividends paid to company's shareholders
(11,078)
(9,060)
(11,078)
(9,232)
Net cash utilised in financing activities
(14,936)
(16,226)
(14,936)
(16,398)
Net increase in cash and cash equivalents
16,030
25,696
17,873
25,863
Cash and cash equivalents at beginning of year
45,801
20,312
43,091
17,228
Exchange loss
on cash and cash equivalents
(96)
(207)
-
-
Cash and cash equivalents at end of year
61,735
45,801
60,964
43,091
FINANCIAL HIGHLIGHTS
2015 2014 % change
P’000 P’000
Profit before tax
36,223 32,303 12% Total comprehensive income
28,960
24,098
20%
Operating profit
41,088
34,859
18%
Revenues
319,603
303,195
5.6%
Total Assets
245,102
229,169
7%
Cash and cash equivalents
61,835
45,801
35%
Earnings per Share(thebe)
16.01
13.32
20%