HRL HOLDINGS LIMITED
Appendix 4D December
FY2021 Half-Yearly Final Report
Results for Announcement to the Market
1. Company Details and Reporting Period
Name of Entity: | HRL Holdings Limited | |||
ABN: | 99 | 120 896 371 | ||
Reporting Period: | 31 | December 2020 | ||
Previous Corresponding Period: | 31 December 2019 | |||
2. | Results for Announcement to the Market | $000's | ||
Revenue from ordinary activities up 0.4% to: | 16,359 | |||
Net profit for the period attributable to members increased to: | 460 |
No dividends were paid or payable during the period.
Refer to pages 1 to 4 of the Financial Statements for the operational and financial review of the Entity.
3. Statement of Comprehensive income with Notes to the Statement
Refer to Page 6 of the December 2020 Financial Statements and accompanying Notes.
4. Balance Sheet with Notes to the Statement
Refer to Page 7 of the December 2020 Financial Statements and accompanying Notes.
5. Statement of Cash Flows with Notes to the Statement
Refer to Page 9 of the December 2020 Financial Statements and accompanying Notes.
6. Dividends
No dividends were paid or payable during the period.
7. Statement of Changes in Equity
Refer to Page 8 of the December 2020 Financial Statements and accompanying Notes.
8. Net Tangible Assets per Security
Dec 2020 | $0.0127 |
Dec 2019 | $0.0094 |
9. Entities over which Control has been Gained or Lost during the Period.
Not applicable.
www.hrlholdings.com | ABN 99 120 896 370 | ASX Code: HRL
10. Associates and Joint Venture Entities
Not applicable.
11. Other Significant Information
Not applicable.
12. Accounting Standards used for Foreign Entities
Not applicable.
13. Status of Audit
The attached December 2020 Financial Statements have been reviewed.
14. Dispute or Qualifications if not yet audited
Not applicable.
15. Dispute or Qualifications if audited
Not applicable.
Paul Marshall
Company Secretary
28 January 2021
www.hrlholdings.com | ABN 99 120 896 370 | ASX Code: HRL
HRL HOLDINGS LIMITED
INTERIM FINANCIAL REPORT
FOR THE HALF-YEAR ENDED
31 DECEMBER 2020
DIRECTORS' REPORT
DIRECTORS' REPORT
Your Directors present their report on the Consolidated Entity consisting of HRL Holdings Limited ("HRL" or "Company") and the entities it controlled ("the Group") at the end of, or during, the half-year ended 31 December 2020.
DIRECTORS
The following persons were directors of HRL Holdings Limited during the whole of the half-year reporting period and up to the date of this report, unless otherwise stated:
Name | Position | Period of Directorship | |
Greg Kilmister | Non-Executive Chairman | Appointed 11 February 2019 | |
Steve Howse | Executive Director | Appointed 1 | March 2018 |
James Todd | Non-Executive Director | Appointed 1 | March 2018 |
Richard Stephens | Non-Executive Director | Appointed 3 | September 2020 |
Tracy Dare | Non-Executive Director | Appointed 1 | November 2019, resigned 31 July 2020 |
REVIEW OF OPERATIONS
Trading Update
The first half of FY2021 showed a pleasing recovery from the worst of the COVID-19 impacts experienced in late FY2020. Whilst challenges still remain, all business units remain well positioned moving into the second half of FY2021.
Food and Environmental Laboratory Services
The Food and Environmental Laboratory division incorporates the New Zealand based Analytica business unit.
Despite the lingering economic impacts of COVID-19 during the period, Analytica continues to perform well with revenue up 13% compared with the prior period, highlighted by:
- Honey revenues up 40% on the prior period due to a combination of strong overseas demand for Manuka honey, new testing services offered and some improvement in market share.
- Milk testing was steady with the prior period.
- Food origin testing continues to grow with revenues up 18% on the prior period despite ongoing delays in international shipping impacting volumes.
- As anticipated, environmental testing services (laboratory testing of asbestos, air, water and soil) fell slightly (4%) with major project activity across New Zealand weaker due to COVID-19.
- Other services lines (drugs of abuse, natural products and projects) enjoyed solid growth (22%) during the period.
The outlook for the remainder of FY21 is positive albeit with an element of ongoing uncertainty over external factors such as food production seasons and the wider performance of the New Zealand economy.
HAZMAT
The HAZMAT division, which incorporates the OCTIEF business unit in Australia and the Precise business in New Zealand, had a solid half-year. Earnings fell in comparison to the prior period. Underlying workload was comparable however OCTIEF's results in the prior period benefited from a one-off large scale asbestos and lead paint laboratory contract from a major utility provider.
The first quarter for Precise was slow as its customer base recovered from the COVID-19 slowdown but has now returned to normal levels of activity across all of its branch network and has a strong pipeline of works heading into the second half.
Australian operations for OCTIEF were very solid during the period with only a modest dip experienced from the QLD state election process. The majority of OCTIEF's workload continues to come from the QLD and NT governments and utility providers and this is expected to remain the case through the second half.
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HRL Holdings Ltd. published this content on 28 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2021 22:31:02 UTC.