only | RAPTIS GROUP LIMITED | ||||||||||
ABN 43 010 472 858 | |||||||||||
ASX CODE: (RPG) - Appendix 4D | |||||||||||
Half Year report for the 6 months ended 31 December 2021 | |||||||||||
Results for announcement to the market | |||||||||||
use | $AUD | ||||||||||
Revenues from ordinary activities. | nil | ||||||||||
Profit from ordinary activities and other income | down | 553,843 | to | 203,265 | |||||||
after tax attributable to members | from | ||||||||||
Net Profit for the period attributable to members | down | 553,843 | to | 203,265 | |||||||
from | |||||||||||
Dividends (distributions) | Amount per security | Franked amount per | |||||||||
security | |||||||||||
personal | |||||||||||
Final dividend | Nil | Nil | |||||||||
Previous corresponding period | Nil | Nil | |||||||||
Record date for determining entitlements to the dividend | N/A | ||||||||||
Earnings per security (EPS) | Previous | ||||||||||
Current period | corresponding | ||||||||||
period | |||||||||||
Basic and Diluted EPS | 0.13 cents | 0.36 cents | |||||||||
For | Net Tangible Assets Per Security | Current period | Previous | ||||||||
corresponding | |||||||||||
Period | |||||||||||
Net Tangible Assets | 1.90 cents | 1.75 cents | |||||||||
Details of basic and diluted EPS reported separately in accordance with paragraph 9 and 19 of | |||||||||||
AASB 133: Earnings Per Share are as follows. | |||||||||||
Earnings reconciliation: | 2021 | 2020 | |||||||||
$ | $ | ||||||||||
Net profit (loss) for basic earnings | 203,265 | 553,843 | |||||||||
Weighted average number of shares used as the denominator: | Number | Number | |||||||||
Ordinary shares for basic EPS | 152,842,427 | 152,842,427 | |||||||||
1 |
For personal use only
Raptis Group Limited
ABN 43 010 472 858
Dividends
Date the dividend is payable | N/A |
+Record date to determine entitlements to the dividend | |
(distribution) (ie, on the basis of proper instruments of transfer | |
received by 5.00 pm if +securities are not +CHESS approved, | N/A |
or security holding balances established by 5.00 pm or such | |
later time permitted by SCH Business Rules if +securities are | |
+CHESS approved) | |
If it is a final dividend, has it been declared? | |
N/A | |
(Preliminary final report only) | |
Comments on Half-Year results
Raptis Group Limited recognised as income cash recovered from a reinstated subsidiary entity. The main component of cost is feasibility costs investigating business opportunities. In the previous corresponding period income was recognised on the settlement of the Waterpoint Residences management rights business and associated assets settled on 24 September 2020.
The company has earned a profit of $203,265 down from a 2020 half year profit of $553,843.
The company continues to research opportunities in the Build to Rent sector and other future development opportunities in South East Queensland.
Control over entities
Raptis Group Limited has gained control over Raptis BTR Developments Pty Ltd and Raptis BTR Holdings Pty Ltd. These two entities have been formed to investigate Build to Rent opportunities. Mirage Services Pty Ltd was reinstated on 7 July 2021. There were no entities where control was lost in the half year. There were no associate or joint venture entities in the six months to 31 December 2021.
Audit Review
The financial statements were subject to review by the auditors and the review report is attached as part of the Interim Report.
Attachments
The Interim Report of Raptis Group Limited for the half-year ended 31 December 2021 is attached.
Signed
James Raptis - Director - Surfers Paradise
10 February 2022
For personal use only
Raptis Group Limited
ABN 43 010 472 858
RAPTIS GROUP LIMITED
Condensed Financial Report
31 December 2021
For personal use only
Raptis Group Limited
ABN 43 010 472 858
DIRECTORS' REPORT
___________________________________________________________________________________
The directors present their report on the consolidated entity of Raptis Group Limited ("the Company") for half-year ended 31 December 2021, the Auditor's Review Report thereon and the Auditor's Independence Declaration.
Principal Activities
The principal activities during the year of entities within the consolidated group were property development management and investment.
Result
A profit of $203,265 was recognised in the current half year to 31 December 2021. (2020: profit of $553,853).
Dividends Paid or Recommended
No dividends were paid or declared in the period.
Review of Operations
The company recovered $311,835 from a reinstated subsidiary entity, and incurred feasibility costs including valuation legal and accounting research costs researching business opportunities.
In the previous corresponding period the company settled the contract of sale of management rights at the Waterpoint project adjacent to Harbour Town on the Gold Coast. The details of this transaction were provided in the notice of meeting to members for the General Meeting on 2 June 2020. This notice included an independent expert report and explanatory statement.
The company is currently undertaking feasibility studies in residential management rights and in the Build to Rent sector with a view of taking on new opportunities in the next 12 months.
After Balance Date Events
The Directors are not aware of any significant events since the end of the interim period that might materially affect the financial position or results from operations in future periods. Control was not lost over any entities in the period. There are no Associates or Joint Venture entities.
Control gained over entities
Raptis Group Limited has gained control over Raptis BTR Developments Pty Ltd and Raptis BTR Holdings Pty Ltd. These two entities have been formed to investigate Build to Rent opportunities. Mirage Services Pty Ltd was reinstated on 7 July 2021.
Auditor
The financial statements were subject to review by the auditors and the review report is attached as part of the interim report. The auditor's independence declaration as required under Section 307C of the Corporations Act 2001 is set out on page 5, and forms part of the Directors' Report for the half-year ended 31 December 2021.
Directors
The directors of the Company in office during or since the end of the half-year are, James Raptis, OBE; Helen Raptis; and Malcolm Cory.
Dated at Surfers Paradise this 10th day of February 2022.
Signed in accordance with a resolution of directors.
James Raptis, OBE - Director
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For personal use only
To the Board of Directors of Raptis Group Limited
Auditor's Independence Declaration under section 307C of the Corporations Act 2001
As lead audit director for review of the financial statements of Raptis Group Limited for the half-year ended 31 December 2021, I declare that to the best of my knowledge and belief, there have been no contraventions of:
- the auditor independence requirements of the Corporations Act 2001 in relation to the review; and
- any applicable code of professional conduct in relation to the review.
Yours sincerely
Nexia Sydney Audit Pty Ltd
Andrew Hoffmann
Director
Date: 10 February 2022
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Raptis Group Limited published this content on 10 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2022 05:48:06 UTC.