DUTY FREE INTERNATIONAL LIMITED
(Company Registration No. 200102393E)
(Incorporated in the Republic of Singapore)
UNAUDITED FINANCIAL STATEMENTS FOR THE FOURTH
QUARTER AND FULL YEAR ENDED
29 FEBRUARY 2020
1
DUTY FREE INTERNATIONAL LIMITED
(Company Registration No. 200102393E)
(Incorporated in the Republic of Singapore)
Part 1 - INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1,Q2 & Q3), HALF-YEAR AND FULL YEAR RESULTS
1 (a)(i) 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
Consolidated Income Statement
Increase/ | |||||||
(Decrease) | |||||||
Note | % | ||||||
Revenue | 169,710 | 167,481 | 1.3% | 617,238 | 556,326 | 10.9% | |
Changes in inventories | (9,593) | (5,235) | 83.2% | (28,477) | 37,954 | -175.0% | |
Inventories purchased and material consumed | (120,871) | (113,545) | 6.5% | (435,531) | (418,457) | 4.1% | |
Other operating income | 1(a)(ii) | 4,712 | 4,592 | 2.6% | 18,368 | 17,542 | 4.7% |
Employee benefits expenses | (6,726) | (9,367) | -28.2% | (36,250) | (36,720) | -1.3% | |
Rental of premises | (7,139) | (12,447) | -42.6% | (31,546) | (47,818) | -34.0% | |
Utilities and maintenance expenses | (1,082) | (1,314) | -17.7% | (5,208) | (5,361) | -2.9% | |
Depreciation and amortisation | (4,009) | (1,552) | 158.4% | (15,107) | (6,070) | 148.9% | |
Commission expenses | (424) | (661) | -35.9% | (1,816) | (2,661) | -31.8% | |
Professional fees | (510) | (942) | -45.9% | (3,330) | (2,981) | 11.7% | |
Promotional expenses | (380) | (555) | -31.5% | (1,435) | (1,865) | -23.1% | |
Finance costs | (1,728) | (195) | 786.2% | (6,822) | (552) | 1135.9% | |
Gain arising from changes in fair value of option | - | - | 0.0% | - | 1,017 | -100.0% | |
Impairment of property, plant and equipment | |||||||
(3,743) | (162) | 2210.5% | (3,743) | (162) | 2210.5% | ||
and right-of-use assets | |||||||
Impairment of goodwill | (11,524) | - | n.m | (11,524) | - | n.m | |
Realised foreign exchange gain | 1,135 | 633 | 79.3% | 1,372 | 1,076 | 27.5% | |
Unrealised foreign exchange gain/(loss) | 96 | (2,123) | -104.4% | 2,838 | 4,229 | -32.9% | |
Other operating expenses | 1(a)(iii) | (15,955) | (9,007) | 77.1% | (35,016) | (28,045) | 24.9% |
(Loss)/profit before income tax | (8,031) | 15,601 | -151.5% | 24,011 | 67,452 | -64.4% | |
Income tax expenses | 1(a)(iv) | (3,581) | (3,709) | -3.5% | (12,902) | (14,877) | -13.3% |
(Loss)/profit for the period | (11,612) | 11,892 | -197.6% | 11,109 | 52,575 | -78.9% | |
(Loss)/profit attributable to: | |||||||
Owners of the Company | (9,132) | 9,964 | -191.6% | 10,880 | 46,517 | -76.6% | |
Non-controlling interests | (2,480) | 1,928 | -228.6% | 229 | 6,058 | -96.2% | |
(11,612) | 11,892 | -197.6% | 11,109 | 52,575 | -78.9% | ||
n.m - denotes not meaningful | |||||||
2 |
RM '000 RM '000
Group Fourth quarter ended
29/28 February 2020 2019 (Unaudited) (Unaudited)
Increase/ (Decrease)Group Full year ended 29/28 February 2020 2019 (Unaudited) (Audited)
%
RM '000 RM '000
DUTY FREE INTERNATIONAL LIMITED
(Company Registration No. 200102393E)
(Incorporated in the Republic of Singapore)
1 (a)(i) 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 (cont'd)
Consolidated Statement of Comprehensive Income
29/28 February 2020 2019 (Unaudited) (Unaudited)Group Fourth quarter ended
RM '000 RM '000
Increase/ (Decrease)Group Full year ended 29/28 February 2020 2019 (Unaudited) (Audited)
%
RM '000 RM '000
Increase/ (Decrease)
%
(Loss)/profit for the period
(11,612)
11,892
-197.6%
11,109
52,575 -78.9%
Other comprehensive income: Foreign currency translation
Total comprehensive income for the period
(10,690)
922
11,257
(635)
-245.2%
-195.0%
12,188
1,079
(168) -742.3% 52,407 -76.7%
Total comprehensive income attributable to: Owners of the Company
Non-controlling interests
(8,308) (2,382) (10,690)
9,488 1,769 11,257
-187.6% 11,856
46,365 -74.4%
-234.7% -195.0%
332 6,042 -94.5%
12,188
52,407 -76.7%
DUTY FREE INTERNATIONAL LIMITED
(Company Registration No. 200102393E)
(Incorporated in the Republic of Singapore)
1(a)(ii) Other operating income
Other operating income includes:-
Group | Group |
Fourth quarter ended | Full year ended |
29/28 February | 29/28 February |
2020 2019 Increase/ 2020 (Unaudited) (Unaudited) (Decrease) (Unaudited)
RM '000 RM '000 % RM '000
2019 (Audited) RM '000
Increase/ (Decrease)
%
Rental income from: - advertisement space
- property, plant and equipment Commission income
Incentive income Interest income
Gain on disposal of property, plant and equipment Promotion income
Sundry income
1(a)(iii) Other operating expenses
725
125
124
49
2,390 -
445
158
Other operating expenses is arrived at after charging/(crediting) the following:-
710
130
132
67
3,035 -
334
109
Group
Fourth quarter ended
29/28 February
2.1%
3,005
3,017 -0.4%
-3.8%
500
-6.1%
521 -4.0%
161
-26.9%
187 -13.9%
174
-21.3%
298 -41.6%
10,762
11,546 -6.8%
0.0%
32
33.2%
29 10.3%
1,623
1,085 49.6%
45.0%
1,077
Group Full year ended 29/28 February
526 104.8%
2020 2019 Increase/ 2020 2019 (Unaudited) (Unaudited) (Decrease) (Unaudited) (Audited)
RM '000 RM '000 % RM '000 RM '000
Assessment and quit rent Impairment loss on receivables Auditors' remuneration
Bad debts written off Bank charges Donations Insurance
Inventory written down Inventory written off
Loss/(gain) arising from changes in fair value of biological assets
Management fee Packing materials
Property, plant and equipment written off Transportation costs
Travelling expenses
n.m - denotes not meaningful
298
284 -
4.9% n.m
1,056 1,013
2,179
Increase/ (Decrease)
%
4.2%
2,179
-
269
422 -
-36.3% n.m
1,205 1,162
143
n.m
3.7%
143
-
n.m
457
405
12.8%
1,695
1,764 -3.9%
14
15
-6.7%
1,110
3,072 -63.9%
400
316
26.6%
1,532
1,346 13.8%
6,466
1,404
360.5%
7,022
2,469 184.4%
419
64
554.7%
1,063
124 757.3%
71
(45)
-257.8%
77
49 57.1%
1,081
1,180
-8.4%
3,188
3,341 -4.6%
248 -
450
-44.9%
814
1,091 -25.4%
1,028
-100.0%
809
1,092 -25.9%
524
1,370
-61.8%
2,556
2,698 -5.3%
340
364
-6.6%
1,569
1,362 15.2%
DUTY FREE INTERNATIONAL LIMITED
(Company Registration No. 200102393E)
(Incorporated in the Republic of Singapore)
1(a)(iv) Income tax expenses
Current income tax attributable to continuing operations - current income tax
- over provision in respect of previous years
Deferred income tax attributable to continuing operations Real property gain tax
Income tax expense recognised in profit or loss
n.m - denotes not meaningful
Group | Group |
Fourth quarter ended | Full year ended |
29/28 February | 29/28 February |
2020 2019 Increase/ 2020 | 2019 | Increase/ |
(Unaudited) (Unaudited) (Decrease) (Unaudited) | (Audited) | (Decrease) |
RM '000 RM '000 % RM '000 | RM '000 | % |
16,881 | -15.1% | |
(784) | 126.5% | |
16,097 | -22.0% | |
(1,220) | -57.5% | |
- | n.m | |
14,877 | -13.3% |
5,732
5,212
10.0% 14,337
(45) 5,687
(4)
1025.0% (1,776)
5,208 9.2% 12,561
(2,106)
(1,499) 40.5% (519)
- 3,581
- 3,709
0.0% 860
-3.5%
12,902