CSC : Financial Statements Announcement for the 6 months and 12 months ended 31 March 2023

5/26/23, 5:33 PM

Financial Statements and Related Announcement::Full Yearly Results

FINANCIAL STATEMENTS AND RELATED ANNOUNCEMENT::FULL YEARLY RESULTS

Issuer & Securities

Issuer/ Manager

CSC HOLDINGS LIMITED

Securities

CSC HOLDINGS LTD - SG1F84861094 - C06

Stapled Security

No

Announcement Details

Announcement Title

Financial Statements and Related Announcement

Date &Time of Broadcast

26-May-2023 17:32:33

Status

New

Announcement Sub Title

Full Yearly Results

Announcement Reference

SG230526OTHRAMOD

Submitted By (Co./ Ind. Name)

See Yen Tarn

Designation

Executive Director & Group Chief Executive Offcer

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

Financial Statements Announcement for the 6 months and 12 months ended 31 March 2023.

Additional Details

For Financial Period Ended

31/03/2023

Attachments

2HFY23.pdf

Total size =1221K MB

https://links.sgx.com/1.0.0/corporate-announcements/UYE2B95KIBBUXSAY/152943e082a83a4b786ab9c616e605055ff8f3d6a753df1c430f279b9… 1/1

CSC HOLDINGS LIMITED

(Company Registration Number: 199707845E)

Condensed Interim Financial Statements

For the 6 Months and 12 Months Ended

31 March 2023

Table of Contents
		Page
CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS	3
CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME	4
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION	5
CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY	7
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS	10
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS	12
1.	CORPORATE INFORMATION	12
2.	BASIS OF PREPARATION	12
3.	SEASONAL OPERATIONS	15
4.	REVENUE AND SEGMENT INFORMATION	16
5.	(LOSS)/PROFIT BEFORE TAX	20
6.	TAX (CREDIT)/EXPENSE	21
7.	(LOSS)/EARNINGS PER SHARE	21
8.	PROPERTY, PLANT AND EQUIPMENT	22
9.	RIGHT-OF-USEASSETS AND LEASE LIABILITIES	22
10.	INVESTMENT PROPERTY	23
11.	INVESTMENT IN ASSOCIATES	23
12.	INVENTORIES	23
13.	SHARE CAPITAL	24
14.	LOANS AND BORROWINGS	24
15.	DIVIDENDS	25
16.	NET ASSET VALUE	25
17.	COMMITMENTS	26
18.	RELATED PARTIES	26
19.	ACQUISITION OF NON-CONTROLLINGINTERESTS OF A SUBSIDIARY	27
20.	FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES	28
OTHER INFORMATION REQUIRED BY LISTING RULE APPENDIX 7.2	31
1.	REVIEW OF THE PERFORMANCE OF THE GROUP	31
2.	OUTLOOK	38
3.	INTERESTED PERSON TRANSACTIONS	39
4.	AUDIT / REVIEW	39
5.	VARIANCE FROM PROSPECT STATEMENT	39
6.	DIVIDEND	39
7.	BREAKDOWN OF SALES	40
8.	CONFIRMATION	40

Page 2

Condensed Interim Consolidated Statement of Profit or Loss

For the 6 Months and 12 Months ended 31 March 2023

				Group				Group
	Note	6 months ended	Change	12 months ended		Change
		31-Mar-23		31-Mar-22		31-Mar-23		31-Mar-22
				Restated *				Restated *
		$'000		$'000	%	$'000		$'000	%
Revenue	4a	146,586		145,651	0.6	264,599		268,740	(1.5)
Cost of sales	5a	(139,768)		(132,009)	5.9	(258,304)		(241,024)	7.2
Gross profit		6,818		13,642	(50.0)	6,295		27,716	(77.3)
Other income	5b	694		1,261	(45.0)	1,741		1,746	(0.3)
Operating expenses
- Distribution expenses		(500)		(524)	(4.6)	(1,109)		(1,213)	(8.6)
- Administrative expenses	5c	(14,428)		(12,522)	15.2	(29,172)		(24,126)	20.9
- Other operating (expenses)/income	5d	(509)		62	N.M.	(494)		(1,524)	(67.6)
		(15,437)		(12,984)	18.9	(30,775)		(26,863)	14.6
Results from operating activities		(7,925)		1,919	N.M.	(22,739)		2,599		N.M.
Net finance expenses
- Finance income		639		692	(7.7)	1,114		1,888	(41.0)
- Finance expenses		(3,106)		(1,685)	84.3	(5,679)		(3,149)	80.3
		(2,467)		(993)	>100.0	(4,565)		(1,261)	>100.0
Share of (loss)/profit of associates
(net of tax)		(242)		5,151	N.M.	(84)		5,122		N.M.
(Loss)/Profit before tax		(10,634)		6,077	N.M.	(27,388)		6,460		N.M.
Tax credit/(expense)	6	393		(273)	N.M.	284		(616)		N.M.
(Loss)/Profit for the period/year		(10,241)		5,804	N.M.	(27,104)		5,844		N.M.
Attributable to:		(9,960)		5,967	N.M.	(26,681)		5,859		N.M.
Owners of the Company
Non-controlling interests		(281)		(163)	72.4	(423)		(15)	>100.0
(Loss)/Profit for the period/year		(10,241)		5,804	N.M.	(27,104)		5,844		N.M.
* See note 2.1(a)
Gross proift margin		4.7%	9.4%		2.4%	10.3%
Net (loss)/profit margin		-7.0%	4.0%		-10.2%	2.2%

Page 3

Condensed Interim Consolidated Statement of Comprehensive Income

For the 6 Months and 12 Months ended 31 March 2023

			Group				Group
	6 months ended	Change	12 months ended		Change
	31-Mar-23		31-Mar-22		31-Mar-23		31-Mar-22
			Restated *				Restated *
	$'000		$'000	%	$'000		$'000	%
(Loss)/Profit for the period/year	(10,241)		5,804	N.M.	(27,104)		5,844		N.M.
Other comprehensive income
Item that will not be reclassified to profit
or loss:
Revaluation surplus of property, plant
and equipment	955		1,492	(36.0)	955		1,992	(52.1)
Change in fair value of other investments	-		(161)	N.M.	-		(161)		N.M.
Item that are or may be reclassified
subsequently to profit or loss:
Foreign currency translation differences
- foreign operations	108		95	13.7	24		(491)		N.M.
Other comprehensive income for the
period/year, net of tax	1,063		1,426	(25.5)	979		1,340	(26.9)
Total comprehensive (expense)/income
for the period/year	(9,178)		7,230	N.M.	(26,125)		7,184		N.M.
Attributable to:	(9,170)		7,285	N.M.	(25,875)		6,579		N.M.
Owners of the Company
Non-controlling interests	(8)		(55)	(85.5)	(250)		605		N.M.
Total comprehensive (expense)/income
for the period/year	(9,178)		7,230	N.M.	(26,125)		7,184		N.M.

* See note 2.1(a)

Page 4