Quarterly report on consolidated results for the fourth quarter ended 31 December 2016. The figures for the cumulative period have been audited.
CONDENSED CONSOLIDATED INCOME STATEMENT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016
INDIVIDUAL QUARTER CUMULATIVE PERIOD
Current Year Quarter | Preceding Year Corresponding Quarter | Current Year To-Date | Preceding year Corresponding Period | |
31/12/2016 | 31/12/2015 | 31/12/2016 | 31/12/2015 | |
RM'000 | RM'000 | RM'000 | RM'000 | |
Revenue | 513,414 | 424,404 | 1,480,079 | 1,374,931 |
Cost of sales | (253,335) ---------------- | (295,360) ---------------- | (848,926) ---------------- | (923,987) ---------------- |
Gross profit | 260,079 | 129,044 | 631,153 | 450,944 |
Other income | 165,676 | 22,966 | 220,202 | 79,921 |
Other expenses | (145,313) ---------------- | (70,868) ---------------- | (315,799) ---------------- | (255,244) ---------------- |
Profit from operations | 280,442 | 81,142 | 535,556 | 275,621 |
Finance cost | (13,523) | (17,302) | (59,573) | (50,161) |
Share of results in joint ventures | ||||
and associates | 7,669 ---------------- | 6,397 ---------------- | 24,988 ---------------- | 21,969 ---------------- |
Profit before taxation | 274,588 | 70,237 | 500,971 | 247,429 |
Taxation | (66,742) ---------------- | (18,766) ---------------- | (131,014) ---------------- | (70,834) ---------------- |
Profit for the financial period | 207,846 | 51,471 | 369,957 | 176,595 |
---------------- | ---------------- | ---------------- | ---------------- | |
Profit/(loss) attributable to: | ||||
Equity holders of the Company | 201,891 | 59,399 | 367,488 | 189,749 |
Non-controlling interests | 5,955 | (7,928) | 2,469 | (13,154) |
---------------- | ---------------- | ---------------- | ---------------- | |
207,846 ========= | 51,471 ========= | 369,957 ========= | 176,595 ========= | |
Earnings per share (sen) for profit | ||||
attributable to equity holders of | ||||
the Company: | ||||
- Basic | 25.76 ========= | 7.69 ========= | 46.54 ========= | 24.49 ========= |
- Diluted | 24.86 ========= | 7.42 ========= | 44.92 ========= | 23.68 ========= |
(The Condensed Consolidated Income Statement should be read in conjunction with the audited financial statements for the financial year ended 31 December 2015)
Genting Plantations Berhad (34993-X)10th Floor, Wisma Genting, Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia. T: 03-21782255/23332255 F: 03-21641032 http://www.gentingplantations.com
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016
INDIVIDUAL QUARTER CUMULATIVE PERIOD
Current
Year Quarter
Preceding Year Corresponding
Quarter
Current
Year To-Date
Preceding year Corresponding
Period
31/12/2016 31/12/2015 31/12/2016 31/12/2015
RM'000 RM'000 RM'000 RM'000
Profit for the financial period 207,846 51,471369,957 176,595
Other comprehensive income/(loss), net of tax:
Items that will not be reclassified subsequently to profit or loss:
Reversal of revaluation surplus on
intangible assets (13,258) - (13,258) -
1,011 ---------------- | - ---------------- | 1,011 ---------------- | - ---------------- |
(12,247) ---------------- | - ---------------- | (12,247) ---------------- | - ---------------- |
Actuarial gain on retirement benefit liability
Items that will be reclassified subsequently to profit or loss:
Cash flow hedge 2,361 2,173 (360) 43
Foreign currency translation
differences | 54,274 ---------------- | 108,827 ---------------- | 55,109 ---------------- | 102,487 ---------------- |
56,635 ---------------- | 111,000 ---------------- | 54,749 ---------------- | 102,530 ---------------- | |
Other comprehensive income for the | ||||
period, net of tax | 44,388 ========= | 111,000 ========= | 42,502 ========= | 102,530 ========= |
Total comprehensive income for the | ||||
financial period | 252,234 ========= | 162,471 ========= | 412,459 ========= | 279,125 ========= |
Total comprehensive income/(loss)
attributable to: Equity holders of the Company | 252,116 | 146,881 | 408,009 | 301,429 |
Non-controlling interests | 118 ---------------- | 15,590 ---------------- | 4,450 ---------------- | (22,304) ---------------- |
252,234 | 162,471 | 412,459 | 279,125 | |
========= | ========= | ========= | ========= |
(The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the audited financial statements for the financial year ended 31 December 2015)
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2016 ASSETS | Audited AS AT 31/12/2016 RM'000 | Audited AS AT 31/12/2015 RM'000 |
Non-current assets | ||
Property, plant and equipment | 1,728,093 | 1,561,740 |
Land held for property development | 254,825 | 175,016 |
Investment properties | 25,517 | 26,137 |
Plantation development | 2,465,927 | 2,109,655 |
Leasehold land use rights | 495,758 | 387,063 |
Intangible assets | 34,628 | 145,684 |
Joint ventures | 77,894 | 59,440 |
Associates | 12,501 | 10,774 |
Available-for-sale financial assets | 143,170 | 137,854 |
Other non-current assets | 14,361 | 15,748 |
Deferred tax assets | 92,556 | 134,314 |
----------------- | ----------------- | |
5,345,230 | 4,763,425 | |
----------------- | ----------------- | |
Current assets | ||
Property development costs | 50,006 | 90,847 |
Inventories | 174,278 | 98,078 |
Tax recoverable | 13,112 | 25,175 |
Trade and other receivables | 504,758 | 334,097 |
Amounts due from joint ventures, associates and other related companies | 4,139 | 3,681 |
Derivative financial assets | 424 | - |
Available-for-sale financial assets | 500,006 | 500,006 |
Cash and cash equivalents | 1,260,266 | 1,424,897 |
2,506,989 | 2,476,781 | |
Assets classified as held for sale | 6,034 | 5,373 |
----------------- | ----------------- | |
2,513,023 | 2,482,154 | |
----------------- | ----------------- |
TOTAL ASSETS 7,858,253 7,245,579
========== ==========(The Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 31 December 2015)
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2016 (Continued)
EQUITY AND LIABILITIES
Equity attributable to equity holders of the Company
Audited Audited
AS AT AS AT
31/12/2016 31/12/2015
RM'000 RM'000
Share capital 397,019 391,331
Reserves 4,278,515 3,827,980
----------------- -----------------4,675,534 4,219,311
Non-controlling interests 289,688 285,280
----------------- -----------------Total equity 4,965,222 4,504,591
Non-current liabilities | ||
Borrowings | 2,315,708 | 2,232,537 |
Provision for retirement gratuities | 12,469 | 9,511 |
Derivative financial liability | 2,073 | 512 |
Deferred tax liabilities | 97,179 | 65,438 |
Deferred income | 8,493 ----------------- | 8,493 ----------------- |
2,435,922 ----------------- | 2,316,491 ----------------- | |
Current liabilities Trade and other payables | 412,350 | 361,272 |
Amounts due to ultimate holding and other related companies | 2,072 | 3,739 |
Borrowings | 29,097 | 56,896 |
Derivative financial liabilities | 574 | 1,350 |
Taxation | 13,016 ----------------- | 1,240 ----------------- |
457,109 | 424,497 | |
----------------- | ----------------- |
Total liabilities | 2,893,031 ----------------- | 2,740,988 ----------------- |
TOTAL EQUITY AND LIABILITIES | 7,858,253 ========== | 7,245,579 ========== |
NET ASSETS PER SHARE (RM) | 5.89 | 5.39 |
(The Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 31 December 2015)