GENERAL ANNOUNCEMENT::ANNOUNCEMENT BY SUBSIDIARY COMPANY, MILLENNIUM & COPTHORNE HOTELS NEW ZEALAND LIMITED
Issuer & Securities
Issuer/ Manager
CITY DEVELOPMENTS LIMITED
Securities
CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09
Stapled Security
No
Announcement Details
Announcement Title
General Announcement
Date &Time of Broadcast
08-Aug-2023 20:38:10
Status
New
Announcement Sub Title
Announcement by Subsidiary Company, Millennium & Copthorne Hotels New Zealand Limited
Announcement Reference
SG230808OTHRX4NS
Submitted By (Co./ Ind. Name)
Enid Ling Peek Fong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Please refer to the Announcement released by Millennium & Copthorne Hotels New Zealand Limited on 8 August 2023 relating to (i) Half Year Results ended 30 June 2023; and (ii) Investor presentation slides.
Attachments
08.08.2023_MCHNZ_HY_2023_Financial_Statements.pdf
Total size =2248K MB
Millennium & Copthorne Hotels New Zealand Limited and Subsidiaries
Condensed Interim Income Statement
FOR THE SIX MONTHS ENDED 30 JUNE 2023 | |||
Unaudited | Unaudited | ||
6 months | 6 months | ||
DOLLARS IN THOUSANDS | NOTE | to 30/06/23 | to 30/06/22 |
Revenue | 60,051 | 83,656 | |
Cost of sales | (28,780) | (32,015) | |
Gross profit | 31,271 | 51,641 |
Administrative expenses | (12,981) | (10,628) |
Other operating expenses | (9,564) | (8,839) |
Operating profit before finance income | 8,726 | 32,174 |
Finance income | 3,785 | 1,283 |
Finance costs | (1,045) | (1,407) |
Net finance income | 2,740 | (124) |
Profit before income tax | 11,466 | 32,050 |
Income tax expense | (3,085) | (9,113) |
Profit for the period | 8,381 | 22,937 |
Profit for the period attributable to: | ||
Equity holders of the parent | 6,177 | 15,403 |
Non-controlling interests | 2,204 | 7,534 |
Profit for the period | 8,381 | 22,937 |
Basic earnings per share (cents) | 4 | 3.90c | 9.74c |
Diluted earnings per share (cents) | 4 | 3.90c | 9.74c |
The attached notes form part of, and are to be read in conjunction with, these financial statements.
Page 1
Millennium & Copthorne Hotels New Zealand Limited and Subsidiaries
Condensed Interim Statement of Comprehensive Income
FOR THE SIX MONTHS ENDED 30 JUNE 2023 | |||
Unaudited | Unaudited | ||
6 months | 6 months | ||
DOLLARS IN THOUSANDS | Note | to 30/06/23 | to 30/06/22 |
Profit for the period | 8,381 | 22,937 | |
Items that are or may be reclassified to profit or loss | |||
Foreign exchange translation movements | 894 | 2,656 | |
- Tax (expense)/credit on foreign exchange | (5) | (15) | |
889 | 2,641 | ||
Total comprehensive income for the period | 9,270 | 25,578 |
Total comprehensive income for the period attributable to: | ||
Equity holders of the parent | 7,066 | 18,044 |
Non-controlling interests | 2,204 | 7,534 |
Total comprehensive income for the period | 9,270 | 25,578 |
DETAILS OF SPECIFIC RECEIPTS/OUTLAYS, REVENUE/EXPENSES | ||
Classified under: | ||
Administrative expenses | ||
Audit fees | (176) | (160) |
Other operating expenses | ||
Depreciation of Property, Plant & Equipment | (3,444) | (3,383) |
Depreciation of Investment Property | (511) | (98) |
Depreciation of Right-Of-Use Assets | (411) | (532) |
Leasing and rental expenses | (341) | (342) |
Finance income | ||
Interest income | 3,785 | 1,250 |
Finance costs | ||
Interest expense | - | (1) |
Interest expense on lease liability | (895) | (1,395) |
Foreign exchange loss | (144) | (1) |
The attached notes form part of, and are to be read in conjunction with, these financial statements.
Page 2
Millennium & Copthorne Hotels New Zealand Limited and Subsidiaries
Condensed Interim Statement of Changes in Equity
FOR THE SIX MONTHS ENDED 30 JUNE 2023 | |||||||||
Attibutable to Equity Holders of the Group | |||||||||
Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | ||||
Share | Exchange | Accumulated | Treasury | Unaudited | Non-controlling | Total | |||
DOLLARS IN THOUSANDS | NOTE | Capital | Reserves | Losses | Stock | Total | Interests | Equity | |
Balance at 1 January 2022 | 383,266 | (2,025) | 132,974 | (26) | 514,189 | 103,610 | 617,799 | ||
Movement in exchange translation reserve | - | 2,641 | - | - | 2,641 | - | 2,641 | ||
Income and expense recognised directly in equity | - | 2,641 | - | - | 2,641 | - | 2,641 | ||
Profit for the period | - | - | 15,403 | - | 15,403 | 7,534 | 22,937 | ||
Total comprehensive income for the period | - | 2,641 | 15,403 | - | 18,044 | 7,534 | 25,578 | ||
Transactions with owners, recorded directly in equity : | |||||||||
Dividends paid to: | |||||||||
Equity holders of the parent | 5 | - | - | (5,537) | - | (5,537) | - | (5,537) | |
Non-controlling interests | - | - | - | - | - | (3,705) | (3,705) | ||
Movement of non-controlling interests without a change in control | - | - | 26 | - | 26 | 1,349 | 1,375 | ||
Balance at 30 June 2022 | 383,266 | 616 | 142,866 | (26) | 526,722 | 108,788 | 635,510 | ||
Balance at 1 January 2023 | 383,266 | (1,396) | 149,175 | (26) | 531,019 | 111,682 | 642,701 | ||
Movement in exchange translation reserve | - | 889 | - | - | 889 | - | 889 | ||
Income and expense recognised directly in equity | - | 889 | - | - | 889 | - | 889 | ||
Profit for the period | - | - | 6,177 | - | 6,177 | 2,204 | 8,381 | ||
Total comprehensive income for the period | - | 889 | 6,177 | - | 7,066 | 2,204 | 9,270 | ||
Transactions with owners, recorded directly in equity : | |||||||||
Dividends paid to: | |||||||||
Equity holders of the parent | 5 | - | - | (4,747) | - | (4,747) | - | (4,747) | |
Non-controlling interests | - | - | - | - | - | (3,940) | (3,940) | ||
Movement of non-controlling interests without a change in control | - | - | (374) | - | (374) | 1,863 | 1,489 | ||
Balance at 30 June 2023 | 383,266 | (507) | 150,231 | (26) | 532,964 | 111,809 | 644,773 |
The attached notes form part of, and are to be read in conjunction with, these financial statements.
Page 3
Millennium & Copthorne Hotels New Zealand Limited and Subsidiaries
Condensed Interim Statement of Financial Position
AS AT 30 JUNE 2023 | Unaudited | Audited | |
as at | as at | ||
DOLLARS IN THOUSANDS | NOTE | 30/06/23 | 31/12/22 |
SHAREHOLDERS' EQUITY | |||
Issued capital | 3 | 383,266 | 383,266 |
Reserves | 149,724 | 147,779 | |
Treasury stock | 3 | (26) | (26) |
Non-controlling interests | 111,809 | 111,682 | |
Total equity | 644,773 | 642,701 | |
Represented by: | |||
NON CURRENT ASSETS | |||
Property, plant and equipment | 258,906 | 255,279 | |
Development properties | 201,823 | 205,308 | |
Investment properties | 36,156 | 36,381 | |
Investment in associates | 2 | 2 | |
Total non-current assets | 496,887 | 496,970 | |
CURRENT ASSETS | |||
Cash and cash equivalents | 58,342 | 61,387 | |
Short term bank deposits | 106,097 | 111,946 | |
Trade and other receivables | 22,491 | 14,436 | |
Inventories | 1,374 | 1,409 | |
Income tax receivable | 3,088 | - | |
Development properties | 24,848 | 23,038 | |
Total current assets | 216,240 | 212,216 | |
Total assets | 713,127 | 709,186 | |
NON CURRENT LIABILITIES | |||
Lease liabilities | 27,772 | 25,458 | |
Provision for deferred taxation | 9,621 | 9,717 | |
Total non-current liabilities | 37,393 | 35,175 | |
CURRENT LIABILITIES | |||
Trade and other payables | 28,385 | 28,024 | |
Trade payables due to related parties | 6 | 2,407 | 2,248 |
Lease liabilities | 169 | 233 | |
Income tax payable | - | 805 | |
Total current liabilities | 30,961 | 31,310 | |
Total liabilities | 68,354 | 66,485 | |
Net assets | 644,773 | 642,701 |
The attached notes form part of, and are to be read in conjunction with, these financial statements.
Page 4
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
CDL - City Developments Ltd. published this content on 08 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2023 17:50:11 UTC.