GP Batteries : Financial Statement and Dividend Announcement for the Year Ended 31 March 2016 (in PDF)

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Financial Statements and Related Announcement::Full Yearly Results Issuer & Securities

Issuer/ Manager

GP BATTERIES INTERNATIONAL LIMITED

Securities GP BATTERIES INT LTD - SG0964000491 - G08 Stapled Security No

Announcement Details

Announcement Title

Financial Statements and Related Announcement

Date & Time of Broadcast 26-May-2016 18:21:35 Status New Announcement Sub Title Full Yearly Results Announcement Reference SG160526OTHR5D79 Submitted By (Co./ Ind. Name) Kelly Kiar Lee Noi Designation Company Secretary Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)

Full Year Financial Statement for the Financial Year ended 31 March 2016.

Additional Details

For Financial Period Ended

31/03/2016

Financial Statement and Dividend Announcement For the Year Ended 31 March 2016 PART I INFORMATION REQUIRED FOR QUARTERLY (Q1, Q2 & Q3), HALF‐YEAR AND FULL YEAR ANNOUNCEMENTS 1(a) An income statement and statement of comprehensive income or a statement of comprehensive income, for the group, together with a comparative statement for the corresponding period of the immediately preceding financial year.

Group income statement for the fourth quarter ("Q4") and full year ("YTD") ended 31 March 2016. These figures have not been audited.

Note	Q4 Q4 ended ended 31 Mar 2016 31 Mar 2015 S$'000 S$'000	Change %	YTD YTD ended ended 31 Mar 2016 31 Mar 2015 S$'000 S$'000	Change %
Revenue	169,666 170,339	(0.4)	765,254 719,335	6.4
Cost of sales	(129,252) (129,321)	(0.1)	(587,601) (552,963)	6.3
Gross profit	40,414 41,018	(1.5)	177,653 166,372	6.8
Other operating income & expenses	(13,318) (1,223)	989.0	3,038 14,721	(79.4)
Distribution expenses	(9,077) (15,600)	(41.8)	(61,603) (57,961)	6.3
Administrative expenses	(21,753) (18,958)	14.7	(88,974) (76,832)	15.8
Finance costs	(1,627) (1,339)	21.5	(6,353) (5,438)	16.8
(Loss) Profit before share of results of associates	(5,361) 3,898	n/m	23,761 40,862	(41.9)
Share of results of associates	1,194 2,205	(45.9)	4,884 741	559.1
(Loss) Profit before income tax	A	(4,167) 6,103	n/m	28,645 41,603	(31.1)
Income tax	B	(3,068) (5,856)	(47.6)	(12,956) (16,369)	(20.9)
(Loss) Profit after income tax	(7,235) 247	n/m	15,689 25,234	(37.8)
Attributable to:
Equity holders of the Company	(10,841) (2,301)	371.1	2,397 12,981	(81.5)
Non‐controlling interests	3,606 2,548	41.5	13,292 12,253	8.5
(7,235) 247	n/m	15,689 25,234	(37.8)
Gross profit margin	23.8% 24.1%	23.2% 23.1%
n/m denotes "not meaningful"

Statement of Comprehensive Income

Q4 ended	Q4 ended	YTD ended	YTD ended
31 Mar 2016	31 Mar 2015	31 Mar 2016	31 Mar 2015
The Group	S$'000	S$'000	S$'000	S$'000

(Loss) Profit for the period / year (7,235) 247 15,689 25,234 Other comprehensive income:

Items that may be subsequently reclassified to Profit or Loss:

Translation differences arising from consolidation

of foreign operations (11,383) 4,599 (25,351) 14,349 Fair value gain (loss) on available‐for‐sale

financial assets	142	621	(485)	(176)
Other comprehensive income for the period	(11,241)	5,220	(25,836)	14,173
Total comprehensive income for the period	(18,476)	5,467	(10,147)	39,407
Total comprehensive income for the period attributable to: Equity holders of the Company	(17,769)	(150)	(18,519)	20,819

Non‐controlling interests (707) 5,617 8,372 18,588

(18,476) 5,467 (10,147) 39,407

Q4 ended 31 Mar 2016	Q4 ended 31 Mar 2015	YTD ended 31 Mar 2016	YTD ended 31 Mar 2015
S$'000	S$'000	S$'000	S$'000

Notes to the Income Statement

(A)	Profit before taxation is arrived at after crediting (charging) the following:
Depreciation	(4,249)	(3,976)	(19,179)	(19,044)
Foreign exchange (loss) gain (i)	(6,422)	2,929	3,465	6,631
Gain on disposal of property, plant and equipment, net (i)	(61)	(157)	4,029	10,182
Government grant (i)	264	545	1,923	1,350
Impairment loss on property, plant and equipment (i)	(4,479)	(2,474)	(4,479)	(2,494)
Impairment loss on interest in associates (i)	0	(524)	0	(524)
Impairment loss on goodwill (i)	(2,935)	0	(2,935)	0
Property, plant and equipment written off (i)	(101)	(1,928)	(611)	(2,574)
(B)	Income tax is inclusive of:
Over (under) provision in respect of prior years' taxation	(29)	(419)	1,297	(140)

(i) Included in other operating income/other operating expenses in the consolidated statement of profit or loss

1(b)(i) A statement of financial position (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year.

Non‐current assets

The Group The Compa ny Note 31 Ma r 2016 31 Ma r 2015 31 Ma r 2016 31 Ma r 2015

S$'000 S$'000 S$'000 S$'000

Investment property 1,672 1,747 0 0

Prope rty, plant & equipment 194,039 211,553 1,142 787

Interest in subsidia ri es 0 0 336,614 332,877

Interest in associ ates 46,329 46,606 16,382 16,382

Available‐for‐sales investments 5,777 5,699 0 0

Deferred ta x assets 3,729 3,661 0 0

Goodwill on cons olidation 11,548 14,709 0 0

Deposits and prepayments 3,095 705 3,046 0

Total non‐curre nt assets 266,189 284,680 357,184 350,046

Current assets

Stocks 110,353 101,123 0 0

Debtors 123,485 128,782 100,048 105,275

Tax re cove rable 754 3,615 0 0

Deposits and prepayments 10,904 9,747 1,985 1,086 Bank balances and ca sh A 110,978 81,042 6,797 6,987

356,474 324,309 108,830 113,348

Assets held for sale 0 70 0 0

Total curre nt asse ts 356,474 324,379 108,830 113,348

Current liabilities

Cre ditors and a ccrue d cha rges 143,653 135,922 100,410 139,930

Deri va ti ve financial instruments 497 195 0 0

Obligations under finance leases 113 196 0 0

Income ta x payable 2,108 1,854 147 269

Bank loans and overdrafts A 118,142 124,926 69,336 60,855

Total curre nt l iabilities 264,513 263,093 169,893 201,054

Net current assets (liabilities) 91,961 61,286 (61,063) (87,706)

Non‐current liabilities

Bank loans A 43,315 0 43,315 0

Obligations under finance leases 79 120 0 0

Deferred ta x liabilities 2,208 3,317 0 0

Total non‐curre nt liabilities 45,602 3,437 43,315 0

Net asse ts 312,548 342,529 252,806 262,340

Represented by:

Issued ca pi ta l 257,400 257,400 257,400 257,400

Treasury sha re s B (6,084) 0 (6,084) 0

Reserves (19,428) 7,957 1,490 4,940 Attributable to equity holders of the Company 231,888 265,357 252,806 262,340 Non‐controlling interests 80,660 77,172 0 0

312,548 342,529 252,806 262,340