GP Batteries International : Second Quarter and Half Year Financial Statement and Dividend Announcement for the Period Ended 30 September 2016 (in PDF)

Issuer/ Manager	GP BATTERIES INTERNATIONAL LIMITED
Securities	GP BATTERIES INT LTD - SG0964000491 - G08
Stapled Security	No

Financial Statements and Related Announcement::Second Quarter and/ or Half Yearly Results Issuer & Securities Announcement Details

Announcement Title	Financial Statements and Related Announcement
Date & Time of Broadcast	10-Nov-2016 17:27:36
Status	New
Announcement Sub Title	Second Quarter and/ or Half Yearly Results
Announcement Reference	SG161110OTHRS8JM
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)	Second Quarter and Half Year Financial Statement and Dividend Announcement for the period ended 30 September 2016.

Additional Details For Financial Period Ended 30/09/2016

Second Quarter and Half Year Financial Statement and Dividend Announcement For the Period Ended 30 September 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 second quarter ("Q2") and half year ("H1") ended 30 September 2016. These figures have not been audited.

Q2 ended Q2 ended H1 ended H1 ended

Note 30 Sept 2016 30 Sept 2015 Change 30 Sept 2016 30 Sept 2015 Change

S$'000	S$'000	%	S$'000	S$'000	%
Restated	Restated

Revenue	194,028	213,086	(8.9)	371,417	402,492	(7.7)
Cost of sales		(150,304)		(166,145)	(9.5)		(289,768)		(311,644)	(7.0)
Gross profit	43,724	46,941	(6.9)	81,649	90,848	(10.1)
Other operating income & expenses	5,717	14,131	(59.5)	8,633	14,142	(39.0)
Distribution expenses	(16,471)	(21,720)	(24.2)	(30,346)	(37,267)	(18.6)
Administrative expenses	(22,220)	(23,388)	(5.0)	(42,339)	(43,179)	(1.9)
Finance costs	(1,616)	(1,957)	(17.4)	(3,331)	(3,224)	3.3
Profit before share of results of associates	9,134	14,007	(34.8)	14,266	21,320	(33.1)
Share of results of associates		1,268		1,561	(18.8)		2,934		2,364	24.1
Profit before income tax	A	10,402	15,568	(33.2)	17,200	23,684	(27.4)
Income tax	B		(4,406)		(2,922)	50.8		(7,353)		(4,970)	47.9
Profit after income tax	5,996	12,646	(52.6)	9,847	18,714	(47.4)
Attributable to:
Equity holders of the Company	2,600	9,754	(73.3)	3,835	12,587	(69.5)
Non-controlling interests		3,396		2,892	17.4		6,012		6,127	(1.9)
5,996	12,646	(52.6)	9,847	18,714	(47.4)

Gross profit margin 22.5% 22.0% 22.0% 22.6%

Certain comparative figures have been restated

Statement of Comprehensive Income

Q2 ended 30 Sept 2016	Q2 ended 30 Sept 2015	H1 ended 30 Sept 2016	H1 ended 30 Sept 2015
The Group	S$'000	S$'000	S$'000	S$'000

Profit for the period 5,996 12,646 9,847 18,714 Other comprehensive income:

Items that may be subsequently reclassified to Profit or Loss:

Tra ns l a ti on di fference s a ri s i ng from cons ol i da ti on

of forei gn opera ti ons 1,454 1,154 (6,894) (6,066) Fa i r va l ue ga i n (l os s ) on a va i l a bl e -for-s a l e

fi na nci a l a s s ets	(173)	(533)	30	(958)
Other comprehensive income (loss) for the period	1,281	621	(6,864)	(7,024)
Total comprehensive income for the period	7,277	13,267	2,983	11,690
Total comprehensive income for the period attributable to: Equi ty hol de rs of the Compa ny	3,388	7,861	(1,875)	4,777
Non-control l i ng i nte res ts	3,889		5,406		4,858		6,913
7,277		13,267		2,983		11,690

Notes to the Income Statement	Q2 ended 30 Sept 2016	Q2 ended 30 Sept 2015	H1 ended 30 Sept 2016	H1 ended 30 Sept 2015
(A) Profit before taxation is arrived at after	S$'000	S$'000	S$'000	S$'000

crediting (charging) the following:

Depreciation	(4,213)	(5,475)	(8,532)	(10,870)
Foreign exchange gain(i)	1,951	9,159	3,932	8,824
Gain on disposal of property, plant and equipment, net(i)	3,039	4,031	3,100	4,051
Government grant (i)	274	764	683	1,164
Property, plant and equipment written off (i)	(164)	(175)	(281)	(317)

(B) Income tax is inclusive of:

Over/(under) provision in respect of prior years' taxation 103 (5) 623 1,176

(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.

The Group The Company

Note	30 Sept 2016	31 Mar 2016	30 Sept 2016	31 Mar 2016
S$'000	S$'000	S$'000	S$'000
Non-current assets
Investment property	1,669	1,672	0	0
Property, plant & equipment	191,907	194,039	2,105	1,142
Interest in subsidiaries	0	0	327,224	336,614
Interest in associates	47,925	46,329	16,382	16,382
Available-for-sales investments	5,891	5,777	0	0
Deferred tax assets	3,733	3,729	0	0
Goodwill on consolidation	11,716	11,548	0	0
Deposits and prepayments		3,944	3,095		3,944	3,046
Total non-current assets		266,785	266,189		349,655	357,184
Current assets
Stocks	A	103,578	110,353	0	0
Debtors	B	142,113	123,485	105,123	100,048
Tax recoverable	1,287	754	0	0
Deposits and prepayments	12,815	10,904	2,167	1,985
Bank balances and cash		110,685	110,978		11,797	6,797
Total current assets		370,478	356,474		119,087	108,830
Current liabilities
Creditors and accrued charges	C	164,987	143,653	105,493	100,410
Derivative financial instruments	200	497	0	0
Obligations under finance leases	121	113	0	0
Income tax payable	3,482	2,108	140	147
Bank loans and overdrafts		125,945	118,142		79,027	69,336
Total current l i abilities		294,735	264,513		184,660	169,893
Net current assets (liabilities)	75,743	91,961	(65,573)	(61,063)
Non-current liabilities
Bank loans	33,330	43,315	33,330	43,315
Obligations under finance leases	53	79	0	0
Deferred tax l i abilities		2,448	2,208		0	0
Total non-current l i abilities		35,831	45,602		33,330	43,315
Net assets	306,697	312,548	250,752	252,806
Represented by:
Issued capital	257,400	257,400	257,400	257,400
Treasury shares	D	(6,088)	(6,084)	(6,088)	(6,084)
Reserves		(22,884)	(19,428)		(560)	1,490
Attributable to equity holders of the Company	228,428	231,888	250,752	252,806
Non-controlling interests		78,269	80,660		0	0
306,697	312,548	250,752	252,806