FSGL: Announcement on (i) Unaudited Third Quarter and Nine-Month Financial Statements for the period ended 30 September 2019; and (ii) Incorporation of subsidiaries and joint venture companies.”

Financial Statements and Related Announcement::Third Quarter Results

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FINANCIAL STATEMENTS AND RELATED ANNOUNCEMENT::THIRD QUARTER RESULTS

Issuer & Securities

Issuer/ Manager

FIRST SPONSOR GROUP LIMITED

Securities

FIRST SPONSOR GROUP LIMITED - KYG3488W1078 - ADN

Stapled Security

No

Announcement Details

Announcement Title

Financial Statements and Related Announcement

Date &Time of Broadcast

25-Oct-2019 06:54:37

Status

New

Announcement Sub Title

Third Quarter Results

Announcement Reference

SG191025OTHRX1FX

Submitted By (Co./ Ind. Name)

Neo Teck Pheng

Designation

Group Chief Executive Officer and Executive Director

Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)

Please see attached.

Additional Details

For Financial Period Ended

30/09/2019

Attachments

FSGL_-_3Q2019_Results_Announcement.pdf

FSGL_-_3Q2019_Press_Release.pdf

FSGL_-_3Q2019_Investor_Presentation.pdf

Total size =4934K MB

https://links.sgx.com/1.0.0/corporate-announcements/GVWFF7YC126T3YYB/6ad41c0deb7... 25/10/2019

FIRST SPONSOR GROUP LIMITED

(Incorporated in the Cayman Islands)

(Registration No. AT-195714)

__________________________________________________________________________________________

UNAUDITED THIRD QUARTER AND NINE-MONTH FINANCIAL STATEMENTS FOR THE

PERIOD ENDED 30 SEPTEMBER 2019

__________________________________________________________________________________________

PART I - INFORMATION REQUIRED FOR ANNOUNCEMENT OF QUARTERLY (Q1, Q2 & Q3), HALF YEAR AND FULL YEAR RESULTS

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

			The Group		The Group
			Third quarter ended	Incr /	9-month period ended	Incr /
			30 September	(Decr)	30 September	(Decr)
			2019	2018		2019	2018
			S$'000	S$'000	%	S$'000	S$'000	%
Revenue	44,596	53,493	(16.6)	169,371	145,409	16.5
Cost of sales		(16,148)	(20,519)	(21.3)	(54,564)	(53,901)	1.2
Gross profit	28,448	32,974	(13.7)	114,807	91,508	25.5
Administrative
	expenses	(8,334)	(5,697)	46.3	(28,512)	(19,410)	46.9
Selling expenses	(2,145)	(1,790)	19.8	(5,586)	(5,897)	(5.3)
Other income/
	(expenses) (net)	2,500	3,820	(34.6)	(8,022)	941	n.m.
Other gains (net)		1,512	1,683	(10.2)	6,171	1,683	266.7
Results from
	operating activities		21,981	30,990	(29.1)	78,858	68,825	14.6
Finance income	6,353	3,761	68.9	15,101	12,555	20.3
Finance costs		(6,120)	(2,504)	144.4	(14,654)	(7,297)	100.8
Net finance income		233	1,257	(81.5)	447	5,258	(91.5)
Share of after-tax
	results of associates
	and joint ventures		15,107	1,115	1,254.9	19,859	(3,165)	n.m.
Profit before tax	37,321	33,362	11.9	99,164	70,918	39.8
Tax expense		(4,768)	(7,711)	(38.2)	(27,656)	(15,878)	74.2
Profit for the period	32,553	25,651	26.9	71,508	55,040	29.9
Attributable to:
Equity holders of the
	Company	33,321	25,575	30.3	72,178	54,770	31.8
Non-controlling
	interests		(768)	76	n.m.	(670)	270	n.m.
Profit for the period	32,553	25,651	26.9	71,508	55,040	29.9
Earnings per share (cents)
-	basic	4.00	3.69	8.4	9.45	7.99	18.3
-	diluted		3.03	3.21	(5.6)	7.73	7.42	4.2

n.m.: not meaningful

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Consolidated Statement of Comprehensive Income
	The Group		The Group
	Third quarter ended		9-month period ended
	30 September		30 September
	2019	2018	2019	2018
	S$'000	S$'000		S$'000	S$'000
Profit for the period	32,553	25,651	71,508	55,040
Other comprehensive income
Items that are or may be
reclassified subsequently
to profit or loss:
Share of translation differences
on financial statements of
foreign associates and joint
ventures, net of tax	560	(341)		(4,820)	(937)
Translation differences on
financial statements of
foreign subsidiaries, net of
tax	12,034	(43,608)		(24,925)	(21,812)
Translation differences on
monetary items forming part
of net investment in foreign
subsidiaries, net of tax	236	(1,586)		(1,468)	(178)
Other comprehensive income
for the period, net of tax	12,830	(45,535)	(31,213)	(22,927)
Total comprehensive income
for the period	45,383	(19,884)	40,295	32,113
Total comprehensive income
attributable to:
Equity holders of the Company	44,750	(20,016)	41,882	31,886
Non-controlling interests	633	132	(1,587)	227
Total comprehensive income
for the period	45,383	(19,884)		40,295	32,113

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Notes to the Group's Income Statement:

Profit before tax includes the following:

		The Group		The Group
		Third quarter ended		9-month period ended
		30 September		30 September
		2019	2018	2019	2018
		S$'000	S$'000		S$'000	S$'000
Other gains/(losses) comprise:
Gain/(loss) on disposal of:
-	assets held-for-sale	1,203	5,349	6,128	5,349
-	investment properties	336	41	613	41
-	other investments	76	-	76	-
-	property, plant and
	equipment	(11)	-*	(11)	-*
Impairment loss on assets held-
	for-sale	-	(3,707)	-	(3,707)
Loss on deconsolidation of a
	subsidiary	(92)	-	(613)	-
Property, plant and equipment
	written off	-*	-	(22)	-
Profit before tax includes the
	following (expenses)/income:
Depreciation of property, plant
	and equipment	(2,211)	(1,477)	(4,735)	(5,344)
Depreciation of right-of-use
	("ROU") assets	(870)	-	(2,605)	-
Exchange (loss)/gain (net)	(21,643)	3,950	(30,285)	(12,616)
Fair value gain/(loss) on:
-	derivative assets/
	liabilities (net)	25,751	881	27,129	16,393
-	other investments	118	-	450	-
Hotel base stocks written off	15	-	(497)	-
Hotel pre-opening expenses	(178)	-		(779)	-

* Amount less than S$1,000

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