Union Properties P.J.S.C and its Subsidiaries
Unaudited interim condensed
consolidated financial statements
30 September 2021
Union Properties Public Joint Stock Company and its subsidiaries
Unaudited interim condensed consolidated financial statements | |
30 September 2021 | |
Contents | Page(s) |
Interim condensed consolidated statement of profit or loss and other comprehensive income | ....... 1-2 |
Interim condensed consolidated statement of financial position ............................................................ | 3 |
Interim condensed consolidated statement of cash flows ....................................................................... | 4 |
Interim condensed consolidated statement of changes in equity............................................................ | 5 |
Notes to the interim condensed consolidated financial statements................................................ | 6 - 16 |
Union Properties Public Joint Stock Company and its subsidiaries
Interim condensed consolidated statement of profit or loss and other comprehensive income (unaudited)
For the nine-month period ended 30 September 2021
Nine-month period ended | |||
30 September | |||
2021 | 2020 | ||
Notes | AED'000 | AED'000 | |
Revenue from contracts with customers | 17 | 296,018 | 286,315 |
Net gain/(loss) on financial instruments at FVTPL | 10 | 5,338 | (54,959) |
Share of profits from associates, net | - | 7,818 | |
Loss on disposal of an associate | 5 | - | (234,524) |
Gain on fair valuation of investment properties | 7 | 78,854 | 821,990 |
Loss on sale of investment properties | 7 | (17,860) | (20,000) |
Finance income | 1,519 | 1,984 | |
Other income | 6 | 35,778 | 11,760 |
Direct costs | 17 | (244,362) | (291,093) |
Administrative and general expenses | 17 | (89,195) | (84,170) |
Finance cost | 17 | (64,721) | (96,342) |
Profit/(loss) for the period | 1,369 | 348,779 | |
Other comprehensive income for the period | - | (15,508) | |
Total comprehensive income for the period | 1,369 | 333,271 | |
Basic and diluted earnings per share (AED) | 12 | 0.0003 | 0.0813 |
The notes from 1 to 18 form an integral part of these interim condensed consolidated financial statements
1
Union Properties Public Joint Stock Company and its subsidiaries
Interim condensed consolidated statement of profit or loss and other comprehensive income (unaudited)
For the three-month period ended 30 September 2021
Three month period ended 30 | |||
September | |||
2021 | 2020 | ||
Notes | AED'000 | AED'000 | |
Revenue from contracts with customers | 17 | 98,570 | 90,521 |
Net (loss)/gain on financial instruments at FVTPL | 10 | (3,066) | 19,317 |
Share of profit from associates, net | - | 5,480 | |
Loss on disposal of an associate | 5 | - | (234,524) |
Gain on fair valuation of investment properties | 7 | - | 821,990 |
Gain/(loss) on sale of investment properties | 7 | 5,425 | (164) |
Finance income | 497 | 1,243 | |
Other income | 6 | 2,810 | 2,603 |
Direct costs | 17 | (81,001) | (140,084) |
Administrative and general expenses | 17 | (34,047) | (26,207) |
Finance cost | 17 | (20,203) | (30,969) |
(Loss)/profit for the period | (31,015) | 509,206 | |
Other comprehensive income for the period | - | - | |
Total comprehensive (loss)/income for the period | (31,015) | 509,206 | |
Basic and diluted earnings per share (AED) | 12 | (0.007) | 0.119 |
The notes from 1 to 18 form an integral part of these interim condensed consolidated financial statements.
2
Union Properties Public Joint Stock Company and its subsidiaries
Interim condensed consolidated statement of financial position
As at 30 September 2021
Unaudited | Audited | |||
30 September 2021 | 31 December 2020 | |||
Notes | AED'000 | AED'000 | ||
ASSETS | ||||
Non-current assets | ||||
Property, plant and equipment | 345,433 | 348,076 | ||
Right-of-use assets | 24,032 | 26,371 | ||
Investment properties | 7 | 4,447,220 | 4,612,744 | |
Development properties | 7,504 | 7,504 | ||
Investments in an associate | 87,368 | 87,368 | ||
Investments at fair value through profit or loss | 10 | - | 114,608 | |
Non-current receivables | 8 | 5,417 | 33,194 | |
Total non-current assets | 4,916,974 | 5,229,865 | ||
Current assets | ||||
Investments at fair value through profit or loss | 10 | 155,376 | 37,276 | |
Inventories | 14,343 | 7,913 | ||
Contract assets | 226,695 | 218,864 | ||
Trade and other receivables | 8 | 583,142 | 394,888 | |
Due from related parties | 9 | - | 7,648 | |
Cash and cash equivalents | 11 | 49,937 | 45,400 | |
Total current assets | 1,029,493 | 711,989 | ||
Total assets | 5,946,467 | 5,941,854 | ||
EQUITY AND LIABILITIES | ||||
Equity | ||||
Share capital | 4,289,540 | 4,289,540 | ||
Statutory reserve | 352,978 | 352,978 | ||
Asset revaluation surplus | 212,689 | 212,689 | ||
Accumulated losses | (1,959,704) | (1,961,073) | ||
Total equity attributable to the shareholders of the Company | 2,895,503 | 2,894,134 | ||
Non-current liabilities | ||||
Non-current portion of bank loans | 13 | 321,060 | 463,056 | |
Contract liabilities | 8,118 | 8,118 | ||
Lease liabilities | 18,572 | 20,333 | ||
Provision for staff terminal benefits | 36,576 | 32,935 | ||
Total non-current liabilities | 384,326 | 524,442 | ||
Current liabilities | ||||
Trade and other payables | 14 | 1,286,690 | 1,237,010 | |
Contract liabilities | 128,157 | 88,692 | ||
Lease liabilities | 4,643 | 5,084 | ||
Bank overdrafts | 15 | 203,965 | 192,235 | |
Current portion of bank loans | 13 | 1,043,183 | 1,000,257 | |
Total current liabilities | 2,666,638 | 2,523,278 | ||
Total liabilities | 3,050,964 | 3,047,720 | ||
Total equity and liabilities | 5,946,467 | 5,941,854 |
.
The notes from 1 to 18 form an integral part of these interim condensed consolidated financial statements.
3
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Union Properties PJSC published this content on 22 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2021 04:23:00 UTC.