HG Metal Manufacturing Limited (Company Registration No. 198802660D) Condensed Interim Financial Statements for the Half Year Ended 30 June 2025
Table of Contents
Condensed interim consolidated statement of profit and loss and other comprehensive income 3 Condensed interim statements of financial position 5
Condensed interim statements of changes in equity 6
Condensed interim consolidated statement of cash flows 9
Selected notes to the condensed interim consolidated financial statements 10
Other information required by Listing Rule Appendix 7.2 33
Condensed interim consolidated statement of profit and loss and other comprehensive incomeGroup
6 months ended 30 June 2025 | 6 months ended 30 June 2024 | % |
S$'000 | S$'000 | (+/-) |
Note
Continuing operations Revenue | 7 | 87,481 | 73,107 | 20 |
Cost of sales | (76,493) | (63,196) | 21 | |
Gross profit | 10,988 | 9,911 | 11 | |
Gross margin | 12.6% | 13.6% | ||
Other operating income | 707 | 1,015 | (30) | |
Selling and distribution costs | (873) | (591) | 48 | |
Administrative expenses | (3,556) | (3,978) | (11) | |
Other operating expenses | (2,741) | (1,640) | 67 | |
Finance costs | (254) | (328) | (23) | |
Reversal of impairment loss on financial assets | 25 | 48 | (48) | |
Profit before income tax from continuing operations | 8 | 4,296 | 4,437 | (3) |
Income tax expense | 11 | (674) | (726) | (7) |
Net Profit for the period from continuing operations | 3,622 | 3,711 | (2) | |
Discontinued operations Net loss for the period after tax from discontinued operations | - | (264) | nm* | |
Net profit for the period | 3,622 | 3,447 | 5 | |
Profit/(loss) attributable to: Owners of the Company Profit from continuing operations | 3,622 | 3,711 | (2) | |
Loss from discontinued operations | - | (2,527) | nm* | |
3,622 | 1,184 | nm* | ||
Non-controlling interests | ||||
Profit from discontinued operations - | 2,263 | nm* | ||
- | 2,263 | nm* | ||
Group
Note | 6 months ended 30 June 2025 | 6 months ended 30 June 2024 | % |
S$'000 | S$'000 | (+/-) | |
Net Profit for the year | 3,622 | 3,447 | 5 |
Other comprehensive income: | |||
Items that may be reclassified subsequently | |||
to profit or loss : | |||
Foreign currency translation | (78) | (135) | (42) |
Reclassification of foreign currency translation reserve to profit or loss | - | (59) | nm* |
Other comprehensive income for the period, net of tax | (78) | (194) | (60) |
Total comprehensive income for the period | 3,544 | 3,253 | 9 |
Total comprehensive income attributable to: | |||
Owners of the Company | |||
Profit from continuing operations | 3,544 | 3,617 | (2) |
Loss from discontinued operations | - | (2,578) | nm* |
3,544 | 1,039 | nm* | |
Non-controlling interests | |||
Profit from discontinued operations | - | 2,214 | nm* |
- | 2,214 | nm* | |
Earnings per ordinary share:
Basic (cents)
Earning per ordinary share for continuing operations | 12 | 1.32 | 2.46 | nm* |
Earning per ordinary share for discontinued operations | 12 | - | (1.68) | nm* |
Diluted (cents)
Earning per ordinary share for continuing operations | 12 | 1.32 | 2.46 | nm* |
Earning per ordinary share for discontinued operations | 12 | - | (1.68) | nm* |
*nm denotes not meaningful
Condensed interim statements of financial positionGroup Company
Note | 31 December | 31 December | |||
30 June 2025 | 2024 | 30 June 2025 | 2024 | ||
S$'000 | S$'000 | S$'000 | S$'000 | ||
Non-current assets Property, plant and equipment | 13 | 17,721 | 18,354 | 4,006 | 4,110 |
Right-of-use assets | 5,438 | 5,535 | 5 | 14 | |
Intangible assets | 14 | 216 | 186 | 167 | 150 |
Investment in subsidiaries | - | - | 13,028 | 13,028 | |
Investment securities | 254 | 255 | 254 | 255 | |
Restricted deposits | 142 | 142 | - | - | |
23,771 | 24,472 | 17,460 | 17,557 | ||
Current assets Investment securities | 2 | 2 | 2 | 2 | |
Cash and cash equivalents | 54,771 | 55,387 | 43,556 | 45,080 | |
Fixed deposits pledged with banks | 16,325 | 16,325 | 12,325 | 12,325 | |
Inventories | 13,252 | 11,923 | 1,810 | 2,488 | |
Trade and other receivables | 15 | 63,696 | 61,362 | 42,997 | 43,142 |
Prepaid expenses | 429 | 226 | 191 | 150 | |
148,475 | 145,225 | 100,881 | 103,187 | ||
Total assets | 172,246 | 169,697 | 118,341 | 120,744 | |
Current liabilities Lease liabilities | 19 | 672 | 578 | 28 | 35 |
Trade and other payables | 16 | 7,104 | 7,941 | 15,085 | 17,496 |
Bank borrowings | 19 | 1,434 | 1,910 | 142 | 353 |
Provision for income tax | 1,444 | 1,535 | - | - | |
Derivative financial instruments* | 17 | 967 | 5 | 589 | 13 |
11,621 | 11,969 | 15,844 | 17,897 | ||
Non-current liabilities Lease liabilities | 19 | 4,468 | 4,547 | - | - |
Bank borrowings | 19 | 4,183 | 4,751 | - | - |
Deferred tax liabilities | 571 | 571 | - | - | |
Provision for reinstatement costs | 1,572 | 1,572 | - | - | |
10,794 | 11,441 | - | - | ||
Total liabilities | 22,415 | 23,410 | 15,844 | 17,897 | |
Net assets | 149,831 | 146,287 | 102,497 | 102,847 | |
Equity attributable to owners of the Company Share capital | 21 | 109,882 | 109,882 | 109,882 | 109,882 |
Treasury shares | (3,034) | (3,034) | (3,034) | (3,034) | |
Other reserves | 2,808 | 2,886 | 2,527 | 2,527 | |
Accumulated profits/(losses) | 40,174 | 36,552 | (6,878) | (6,528) | |
149,830 | 146,286 | 102,497 | 102,847 | ||
Non-controlling interests | 1 | 1 | - | - | |
Total equity | 149,831 | 146,287 | 102,497 | 102,847 | |
Total equity and liabilities | 172,246 | 169,697 | 118,341 | 120,744 |
* The derivative financial instruments relate to fair value adjustments of forward currency contracts entered into
by the Group to hedge foreign currency exposure on the Group's purchases.