Food Empire : Financial Statement (758 KB)

FOOD EMPIRE HOLDINGS LIMITED

(Co Registration No: 200001282G)

Food Empire Holdings Limited and its Subsidiaries

Unaudited Condensed Financial Statements

For the second half year and full year ended 31 December 2021

FOOD EMPIRE HOLDINGS LIMITED

(Co Registration No: 200001282G)

Table of Contents	Page
Consolidated income statement..............................................................................................................	1
Consolidated statement of comprehensive income ................................................................................	2
Balance sheet .........................................................................................................................................	3
Statements of changes in equity .............................................................................................................	4
Consolidated cash flow statement ........................................................................................................	10
Notes to the condensed consolidated financial statements..................................................................	11
Other information required by Listing Rule Appendix 7.2 .....................................................................	21

FOOD EMPIRE HOLDINGS LIMITED

(Co Registration No: 200001282G)

Consolidated income statement

Group

			Increase/				Increase/
	2H 21	2H 20	(Decrease)		12M21	12M20	(Decrease)
Note US$'000	US$'000	%		US$'000	US$'000	%

Revenue	5	171,010	140,024	22.1
Cost of sales		(125,280)	(88,384)	41.7
Gross profit		45,730	51,640	(11.4)
Selling and marketing expenses		(16,017)	(16,534)	(3.1)
General and administrative expenses		(17,094)	(17,864)	(4.3)
Results fromoperating activities		12,619	17,242	(26.8)
Net other (expenses)/income	7	(72)	(764)	(90.6)
Net finance costs	8	(726)	(230)	215.7
Share of profits/(losses) of associates		300	(47)	NM
Profit before taxation	9	12,121	16,201	(25.2)
Income taxexpense	11	(4,252)	(2,962)	43.6
Profit for the period		7,869	13,239	(40.6)
Profit/(loss) attributable to:
Equity shareholders of the Company		7,954	13,378	(40.5)
Non-controlling interest		(85)	(139)	(38.8)
		7,869	13,239	(40.6)

320,626	272,971	17.5
(226,788)	(168,325)	34.7
93,838	104,646	(10.3)
(34,797)	(35,996)	(3.3)
(33,617)	(34,786)	(3.4)
25,424	33,864	(24.9)
738	(586)	NM
(1,186)	(593)	100.0
1,338	(450)	NM
26,314	32,235	(18.4)
(6,974)	(5,781)	20.6
19,340	26,454	(26.9)

19,501 26,785 (27.2)

1. (331) (51.4)
   19,340 26,454 (26.9)

NM denotes not meaningful.

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Consolidated statement of comprehensive income

		Group
		Increase/			Increase/
2H 21	2H 20	(Decrease)	12M 21	12M 20	(Decrease)
US$'000	US$'000	%	US$'000	US$'000	%

Profit net of tax

Other comprehensive income:

Items that may be reclassified subsequently to profit or loss:

Foreign currency translation loss

Share of other comprehensive income of associates Exchange differences realised on liquidation of subsidiaries Other comprehensive income for the period, net of tax Total comprehensive income for the period

Total comprehensive income attributable to: Equity shareholders of the Company Non-controlling interest

7,869

13,239

(40.6)

19,340

26,454

(26.9)

(715)	(1,556)	(54.0)	(36)	(8,686)	(99.6)
(218)	34	NM	(384)	(141)	172.3
-	49	NM	-	49	NM
(933)	(1,473)	(36.7)	(420)	(8,778)	(95.2)
6,936	11,766	(41.1)	18,920	17,676	7.0
7,018	11,920	(41.1)	19,071	18,001	5.9
(82)	(154)	(46.8)	(151)	(325)	(53.5)
6,936	11,766	(41.1)	18,920	17,676	7.0

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Balance sheet

		Group		Company
		31 Dec 2021	31 Dec 2020		31 Dec 2021	31 Dec 2020
	Note	US$'000	US$'000		US$'000	US$'000
Non-Current Assets
Property, plant and equipment	16	103,944	104,284	-	-
Right-of-use assets		9,514	10,487	357	-
Investment properties	17	14,026	14,529	-	-
Investments in subsidiaries		-	-	44,485	44,485
Investments in associates		9,046	10,799	-	-
Amount due from an associate (non-trade)		1,545	-	-	-
Intangible assets	15	10,343	10,343	-	-
Deferred tax assets		3,110	3,443		-	-
		151,528	153,885	44,842	44,485
Current Assets
Inventories		73,521	50,129	-	-
Trade receivables		39,965	31,193	-	-
Prepaid operating expenses		8,074	4,751	16	15
Deposits		793	803	-	-
Other receivables		4,852	2,450	-	-
Amounts due from subsidiaries (non-trade)		-	-	15,213	19,517
Amount due from an associate (non-trade)		683	85	-	-
Amount due from a related party (trade)		69	311	-	-
Cash and cash equivalents		60,557	69,037		760	1,134
		188,514	158,759	15,989	20,666
Current Liabilities
Trade payables and accruals		(48,078)	(28,766)	(1,917)	(2,449)
Lease liabilities	18	(1,989)	(1,786)	(37)	-
Interest-bearing loans and borrowings	18	(22,421)	(18,403)	-	-
Other payables		(4,886)	(3,294)	-	(146)
Amount due to a subsidiary (non-trade)		-	-	(20)	(21)
Amount due to a related party (non-trade)		(697)	(654)	-	-
Amount due to an associate (non-trade)		(297)	(295)	-	-
Amounts due to associates (trade)		(131)	(21)	-	-
Income tax payable		(1,502)	(1,778)		(13)	(42)
		(80,001)	(54,997)	(1,987)	(2,658)
Net Current Assets		108,513	103,762	14,002	18,008
Non-Current Liabilities
Lease liabilities	18	(1,525)	(2,616)	(150)	-
Interest-bearing loans and borrowings	18	(27,385)	(35,330)	-	-
Deferred tax liabilities		(4,572)	(2,733)		-	-
		(33,482)	(40,679)	(150)	-
Net Assets		226,559	216,968	58,694	62,493
Equity
Share capital	19	45,420	43,267	45,420	43,267
Treasury shares		(4,242)	(1,742)	(4,242)	(1,742)
Reserves		186,538	176,499		17,516	20,968
		227,716	218,024	58,694	62,493
Non-controlling interest		(1,157)	(1,056)		-	-
Total Equity		226,559	216,968		58,694	62,493

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