FRASERS PROPERTY LIMITED FRASERS PROPERTY LIMITED AND ITS SUBSIDIARIES
Registration Number: 196300440G
CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE 6 MONTHS AND FULL YEAR ENDED 30 SEPTEMBER 2021
Frasers Property Limited and its subsidiaries
Condensed Interim Financial Statements
For the 6 months and full year ended 30 September 2021
TABLE OF CONTENTS
Item No. | Description | Page No. | ||||
A | Condensed Interim Consolidated Profit Statement | 1 | ||||
B | Condensed Interim Consolidated Statement of Comprehensive | 2 | ||||
Income | ||||||
C | Condensed Interim Statements of Financial Position | 3 | ||||
D | Condensed Interim Consolidated Statement of Changes in Equity | 4 | ||||
E | Condensed Interim Consolidated Statement of Cash Flows | 8 | ||||
F | Notes to the Condensed Interim Consolidated Financial | 10 | ||||
Statements | ||||||
G | Other Information Required by Listing Rule Appendix 7.2 | 52 | ||||
1
Frasers Property Limited and its subsidiaries
Condensed Interim Financial Statements
For the 6 months and full year ended 30 September 2021
CONDENSED INTERIM CONSOLIDATED PROFIT STATEMENT
FOR THE 6 MONTHS AND FULL YEAR ENDED 30 SEPTEMBER 2021
6 months | 6 months | Full year | Full year | |||||
ended | ended | ended | ended | |||||
30/09/2021 | 30/09/2020 | 30/09/2021 | 30/09/2020 | |||||
Note | $'000 | $'000 | $'000 | $'000 | ||||
REVENUE | 3 | 2,197,603 | 1,463,557 | 3,763,751 | 3,597,007 | |||
Cost of sales | (1,586,242) | (1,036,720) | (2,553,847) | (2,220,677) | ||||
Gain on change in use of properties held for sale | 14 | (2,231) | - | 355,679 | - | |||
Total cost of sales | (1,588,473) | (1,036,720) | (2,198,168) | (2,220,677) | ||||
Gross Profit | 609,130 | 426,837 | 1,565,583 | 1,376,330 | ||||
Other income/(losses) | 48,867 | 53,823 | 84,169 | 59,797 | ||||
Administrative expenses | (197,464) | (184,479) | (392,834) | (411,172) | ||||
TRADING PROFIT | 4 | 460,533 | 296,181 | 1,256,918 | 1,024,955 | |||
Share of results of joint ventures and associates, | ||||||||
net of tax | 127,303 | 159,273 | 167,743 | 220,646 | ||||
PROFIT BEFORE INTEREST, FAIR VALUE | ||||||||
CHANGE, TAXATION AND EXCEPTIONAL | ||||||||
ITEMS ("PBIT") | 587,836 | 455,454 | 1,424,661 | 1,245,601 | ||||
Interest income | 31,671 | 35,803 | 60,413 | 72,195 | ||||
Interest expense | (212,529) | (253,758) | (437,040) | (514,445) | ||||
Net interest expense | (180,858) | (217,955) | (376,627) | (442,250) | ||||
PROFIT BEFORE FAIR VALUE CHANGE, | ||||||||
TAXATION AND EXCEPTIONAL ITEMS | 406,978 | 237,499 | 1,048,034 | 803,351 | ||||
Fair value change and gain on disposal | ||||||||
of investment properties | 956,644 | 145,046 | 944,890 | 161,910 | ||||
PROFIT BEFORE TAXATION AND | ||||||||
EXCEPTIONAL ITEMS | 1,363,622 | 382,545 | 1,992,924 | 965,261 | ||||
Exceptional items | 5 | 46,104 | (165,941) | 34,498 | (160,338) | |||
PROFIT BEFORE TAXATION | 1,409,726 | 216,604 | 2,027,422 | 804,923 | ||||
Taxation | 6 | (284,261) | (105,929) | (460,792) | (286,131) | |||
PROFIT FOR THE PERIOD/YEAR | 1,125,465 | 110,675 | 1,566,630 | 518,792 | ||||
Attributable to:- | ||||||||
Owners of the Company | 528,389 | (74,775) | 775,099 | 111,647 | ||||
Holders of perpetual securities | 30,515 | 30,683 | 61,295 | 79,794 | ||||
Non-controlling interests | 566,561 | 154,767 | 730,236 | 327,351 | ||||
PROFIT FOR THE PERIOD/YEAR | 1,125,465 | 110,675 | 1,566,630 | 518,792 | ||||
Attributable profit:- | ||||||||
- Before fair value change and exceptional items | 89,608 | 11,484 | 399,518 | 229,232 | ||||
- Fair value change | 419,969 | 84,758 | 392,632 | 96,698 | ||||
- Exceptional items | 47,693 | (141,960) | 40,943 | (137,805) | ||||
557,270 | (45,718) | 833,093 | 188,125 | |||||
Non-controlling interests before distributions to | ||||||||
perpetual securities holders1 | 568,195 | 156,393 | 733,537 | 330,667 | ||||
PROFIT FOR THE PERIOD/YEAR | 1,125,465 | 110,675 | 1,566,630 | 518,792 |
- Non-controllinginterests' share of distributions to perpetual securities holders was $1,634,000 for the 6 months ended 30 September 2021 (6 months ended 30 September 2020: $1,626,000) and $3,301,000 for the full year ended 30 September 2021 (full year ended 30 September 2020: $3,316,000).
1
Frasers Property Limited and its subsidiaries
Condensed Interim Financial Statements
For the 6 months and full year ended 30 September 2021
CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
6 months | 6 months | Full year | Full year | |
ended | ended | ended | ended | |
30/09/2021 | 30/09/2020 | 30/09/2021 | 30/09/2020 | |
$'000 | $'000 | $'000 | $'000 | |
PROFIT FOR THE PERIOD/YEAR | 1,125,465 | 110,675 | 1,566,630 | 518,792 |
OTHER COMPREHENSIVE INCOME | ||||
Items that may be reclassified subsequently to | ||||
profit statement: | ||||
Change in fair value of cash flow hedges | 38,460 | (24,983) | 123,684 | (100,181) |
Foreign currency translation | (364,510) | 601,347 | (100,415) | 307,107 |
Share of other comprehensive income of joint | ||||
ventures and associates | 13,696 | (4,355) | 24,011 | (15,887) |
Realisation of reserves on disposals of subsidiaries | (9,696) | 62,996 | (9,696) | 62,996 |
(322,050) | 635,005 | 37,584 | 254,035 | |
Items that will not be reclassified subsequently to | ||||
profit statement: | ||||
Change in fair value of equity investments at fair value | ||||
through other comprehensive income | (809) | 28,713 | (8,946) | 28,713 |
Total other comprehensive income for the | ||||
period/year, net of tax | (322,859) | 663,718 | 28,638 | 282,748 |
TOTAL COMPREHENSIVE INCOME FOR THE | ||||
PERIOD/YEAR | 802,606 | 774,393 | 1,595,268 | 801,540 |
TOTAL COMPREHENSIVE INCOME FOR THE | ||||
PERIOD/YEAR | ||||
Attributable to:- | ||||
Owners of the Company | 365,934 | 358,404 | 849,225 | 301,736 |
Holders of perpetual securities | 30,515 | 30,683 | 61,295 | 79,794 |
Non-controlling interests | 406,157 | 385,306 | 684,748 | 420,010 |
802,606 | 774,393 | 1,595,268 | 801,540 |
2
Frasers Property Limited and its subsidiaries
Condensed Interim Financial Statements
For the 6 months and full year ended 30 September 2021
CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION
Group | Company | ||||||||||||||
As at | As at | As at | As at | ||||||||||||
30/09/2021 | 30/09/2020 | 30/09/2021 | 30/09/2020 | ||||||||||||
Note | $'000 | $'000 | $'000 | $'000 | |||||||||||
NON-CURRENT ASSETS | |||||||||||||||
Investment properties | 9 | 24,613,811 | 21,947,848 | 2,220 | 2,150 | ||||||||||
Properties Held for Sale | - | - | - | - | |||||||||||
Property, plant and equipment | 10 | 2,451,285 | 2,423,793 | 19 | 22 | ||||||||||
Investments in: | - | - | - | - | |||||||||||
- Subsidiaries | - | - | 1,155,750 | 1,146,750 | |||||||||||
- Joint ventures | 1,339,695 | 1,063,859 | 500 | 500 | |||||||||||
- Associates | 11 | 1,325,889 | 1,219,432 | - | - | ||||||||||
Other non-current assets | 12 | 51,065 | 66,781 | 29,174 | 34,833 | ||||||||||
Intangible assets | 13 | 629,769 | 633,579 | - | - | ||||||||||
Other receivables | 815,706 | 561,844 | 4,790,737 | 4,148,259 | |||||||||||
Deferred tax assets | 122,047 | 123,543 | - | - | |||||||||||
Derivative financial instruments | 115,685 | 175,475 | 5,930 | 22,568 | |||||||||||
31,464,952 | 28,216,154 | 5,984,330 | 5,355,082 | ||||||||||||
CURRENT ASSETS | |||||||||||||||
Properties held for sale | 14 | 4,153,131 | 5,886,203 | - | - | ||||||||||
Contract assets | 87,762 | 153,549 | - | - | |||||||||||
Other current assets | 12 | 77,258 | 74,233 | - | 9 | ||||||||||
Trade and other receivables | 494,567 | 548,638 | 171,604 | 272,770 | |||||||||||
Derivative financial instruments | 3,457 | 3,252 | 3,794 | - | |||||||||||
Bank deposits | 2,676 | 236,886 | - | - | |||||||||||
Cash and cash equivalents | 3,776,700 | 3,085,110 | 1,000,735 | 8,566 | |||||||||||
Assets held for sale | 15 | 196,428 | 544,095 | - | - | ||||||||||
8,791,979 | 10,531,966 | 1,176,133 | 281,345 | ||||||||||||
TOTAL ASSETS | 40,256,931 | 38,748,120 | 7,160,463 | 5,636,427 | |||||||||||
CURRENT LIABILITIES | |||||||||||||||
Trade and other payables | 1,790,290 | 1,300,026 | 504,978 | 226,130 | |||||||||||
Contract liabilities | 21,653 | 75,760 | - | - | |||||||||||
Derivative financial instruments | 52,171 | 26,453 | 3,794 | - | |||||||||||
Provision for taxation | 502,199 | 512,327 | 1,627 | 1,380 | |||||||||||
Lease liabilities | 36,679 | 20,803 | - | - | |||||||||||
Loans and borrowings | 16 | 4,849,333 | 4,126,393 | - | - | ||||||||||
Liabilities held for sale | 15 | 21,922 | - | - | - | ||||||||||
7,274,247 | 6,061,762 | 510,399 | 227,510 | ||||||||||||
NET CURRENT ASSETS | 1,517,732 | 4,470,204 | 665,734 | 53,835 | |||||||||||
32,982,684 | 32,686,358 | 6,650,064 | 5,408,917 | ||||||||||||
NON-CURRENT LIABILITIES | |||||||||||||||
Other payables | 232,122 | 624,998 | 354,988 | 320,759 | |||||||||||
Derivative financial instruments | 131,342 | 344,262 | 5,930 | 22,568 | |||||||||||
Deferred tax liabilities | 964,000 | 716,759 | - | - | |||||||||||
Lease liabilities | 890,897 | 823,814 | - | - | |||||||||||
Loans and borrowings | 16 | 12,433,808 | 15,061,241 | - | - | ||||||||||
14,652,169 | 17,571,074 | 360,918 | 343,327 | ||||||||||||
NET ASSETS | 18,330,515 | 15,115,284 | 6,289,146 | 5,065,590 | |||||||||||
SHARE CAPITAL AND RESERVES | |||||||||||||||
Share capital | 17 | 2,974,980 | 1,804,951 | 2,974,980 | 1,804,951 | ||||||||||
Retained earnings | 6,713,710 | 6,017,905 | 3,177,708 | 3,155,721 | |||||||||||
Other reserves | (144,540) | (262,705) | 136,458 | 104,918 | |||||||||||
Equity attributable to owners of the Company | 9,544,150 | 7,560,151 | 6,289,146 | 5,065,590 | |||||||||||
NON-CONTROLLING INTERESTS | |||||||||||||||
- Perpetual securities | 1,244,172 | 1,342,720 | - | - | |||||||||||
10,788,322 | 8,902,871 | 6,289,146 | 5,065,590 | ||||||||||||
NON-CONTROLLING INTERESTS - Others | 7,542,193 | 6,212,413 | - | - | |||||||||||
TOTAL EQUITY | 18,330,515 | 15,115,284 | 6,289,146 | 5,065,590 | |||||||||||
3 |
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Frasers Property Limited published this content on 12 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 23:56:05 UTC.
