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ABN 87 602 638 531
INTERIM FINANCIAL REPORT
FOR THE HALF YEAR ENDED
31 DECEMBER 2021
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useCorporate Directory
Appendix 4D
Review of Operation personalDirectors' Report
Consolidated Statement of Profit or Loss and Other Comprehensive Income
Consolidated Statement of Financial Position
Consolidated Statement of Changes in Equity
Consolidated Statement of Cash Flows
Condensed Notes to Consolidated Financial ForStatements
Directors' Declaration
Independent Auditor's Review Report
Auditor's Independence Declaration
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CORPORATE DIRECTORY
Directors
Mr Matthew Logan - Executive Director Mr Ben Talbot - Executive Director
Mr Berthus Budiman - Non-Executive Director Mr Anson Gan - Non-Executive Director
Company Secretary
Ms Natalie Teo
Principal Place of Business
15 McCabe Street
North Fremantle WA 6159
Telephone: +61 8 6558 0814
Website: www.baumart.com.au
Registered Office
15 McCabe Street
North Fremantle WA 6159
Telephone: +61 8 6558 0814
Share Registry
Advanced Share Registry Services Pty Ltd
110 Stirling Highway
Nedlands WA 6009
Telephone: | +61 8 9389 8033 |
Facsimile: | +61 8 9262 3723 |
Auditor
Stantons International Audit and Consulting Pty Ltd Level 2, 40 Kings Park Rd
West Perth WA 6005
Australian Securities Exchange
Australian Securities Exchange Limited
Level 40, Central Park,
152-158 St George's Terrace
Perth WA 6000
ASX Code: | BMH |
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A P P E N D I X 4 D
F O R T H E H A L F Y E A R E N D E D 3 1 D E C E M B E R 2 0 2 1
The following information is provided to the ASX under listing rule 4.2A.3
Company Name: | BauMart Holdings Limited (the Company) |
ABN: | 87 602 638 531 |
Reporting Period: | Half year ended 31 December 2021 |
Previous Reporting Period: | Half year ended 31 December 2020 |
RESULTS FOR ANNOUNCEMENT TO THE MARKET | |||
31 December | Change up/ | ||
31 December | |||
2021 | 2020 | (down) | |
% | |||
$ Revenue from Ordinary Activities ($'000) | 2,964 | 2,515 | 17.85% |
$ Profit (loss) from ordinary activities after tax ($'000) | 219 | 3,559 | -93.85% |
$ Net profit (loss) attributable to members ($'000) | 219 | 3,559 | -93.85% |
Net tangible assets per security | 0.0382 | 0.0383 | -0.26% |
DIVIDENDS
No dividends have been paid or declared by the Company since the beginning of the current reporting period. No dividends were paid for the previous reporting period.
FOREIGN ENTITIES | |
Foreign entities included in the Group are outlined below: | |
Country of | |
Entity | Incorporation |
Eco Pallets NZ Limited | New Zealand |
FOR FURTHER INFORMATION
The Independent Auditor's Review Report contains an emphasis of matter in relation to going concern.
Further information to assist in the understanding of the financial results presented above is provided throughout this Interim Financial Report.
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R EVIEW OF OPERAT IONS
F O R T H E H A L F Y E A R E N D E D 3 1 D E C E M B E R 2 0 2 1
GLOBAL SUPPLY CHAIN ISSUES
A concerning issue focusing our attention is the widely reported supply chain bottlenecks. Container shortages and shipping cost pressures have caused supply chain issues for our business divisions.
Production capacity challenges and rising inflation is affecting every import and distribution business in Australia and the rest of the world. The flow on effects of global stimulus packages has significantly increased demand for goods and services which has resulted in supply shortages.
This is a theme we see playing out during 2022 and we remain alert to the effect this will have on our division revenue.
GROUP OPERATIONS
Despite these challenges posed by the global supply chain issues, Group top line revenue grew to $2.96m for H1 FY22 (H1 FY21: $2.51m), an increase of 18%. The Group achieved a net profit of $219k (H1 FY21: $3.56m).
MATERIALS HANDLING UPDATE
Top line revenue from this division increased during the period to $2.83m (H1 FY21: $2.3m), an increase of 23%. Revenue captured has been significantly affected with shipping delays caused by global supply chain and peak season issues.
SOURCE & PROCURE UPDATE
The division continued to supply mining consumables, industrial equipment and personal protective equipment during the period. Top line revenue decreased by 92% to $12K (H1 FY21: $154K). Please see Note 21 for more details on progress updates subsequent to period end.
BUILDING MATERIALS UPDATE
Positive finish for the division under the new strategy of supplying through key distributor channels. Top line revenue totalled $123K (H1 FY21: $63K), an increase of 95%.
OTHER ACTIVITIES
The Group's management services contract provided modest recurrent income during the year. Please see Note 21 for more details on progress updates subsequent to period end.
STRATEGIC BUSINESS REVIEW
The strategic business review is ongoing with several key board changes during the half year. Subsequent to the end of the half year, Ben Talbot has joined the Company as an executive director and Michael Crichton has stepped down as a non-executive director. Berthus Budiman, previously an executive director, was being redesignated to a non-executive director role effective 1 February 2022 (see Note 21 for more details).
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Baumart Holdings Ltd. published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 21:58:25 UTC.