HC Surgical Specialists Limited
Condensed interim financial statements
For the six months and full year ended 31 May 2023
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Table of Contents
- Condensed interim consolidated statement of profit of loss and other comprehensive
income … | 3 | |
B. | Condensed interim statements of financial position … | 4 |
C. | Condensed interim statements of changes in equity … | 6 |
D. | Condensed interim consolidated statement of cash flows … | 9 |
E. | Notes to the condensed interim consolidated financial statements … | 11 |
F. | Other information required pursuant to Appendix 7C of the Catalist Rules | 30 |
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A. Condensed interim consolidated statement of profit or loss and other comprehensive income
Group | ||||||||
6 months ended | 12 months ended | |||||||
31 May 2023 | 31 May 2022 | 31 May 2023 | 31 May 2022 | |||||
Note | (Unaudited) | (Unaudited) | Change | (Unaudited) | (Audited) | Change | ||
S$'000 | S$'000 | % | S$'000 | S$'000 | % | |||
Revenue | 4.2 | 8,959 | 8,902 | 0.6% | 19,077 | 19,311 | ‐1.2% | |
Other items of income | ||||||||
Other income | 612 | 327 | 87.2% | 1,476 | 1,456 | 1.4% | ||
Gain on derecognition of financial | ||||||||
assets | ‐ | 379 | N.M. | ‐ | 379 | N.M. | ||
Gain/(loss) on modification of | ||||||||
other financial liabilities and | ||||||||
deferred consideration | 57 | ‐ | N.M. | (262) | ‐ | N.M. | ||
Fair value (loss)/gain on financial | ||||||||
assets at FVTPL | ‐ | (81) | N.M. | ‐ | 608 | N.M. | ||
Items of expense | ||||||||
Changes in inventories | 92 | 23 | 300.0% | 69 | 51 | 35.3% | ||
Inventories, consumables and | ||||||||
surgery expenses | (1,334) | (1,259) | 6.0% | (2,697) | (2,695) | 0.1% | ||
Employee benefits expense | (3,365) | (3,328) | 1.1% | (6,646) | (6,823) | ‐2.6% | ||
Depreciation and amortisation | (915) | (807) | 13.4% | (1,744) | (1,669) | 4.5% | ||
Lease expenses | (12) | (21) | ‐42.9% | (21) | (57) | ‐63.2% | ||
Fair value loss on derivative | ||||||||
financial instruments | (332) | ‐ | N.M. | (49) | ‐ | N.M. | ||
Fair value loss on financial assets | ||||||||
at FVTPL | (840) | ‐ | N.M. | (1,742) | ‐ | N.M. | ||
Other expenses | (1,345) | (1,524) | ‐11.7% | (2,772) | (2,340) | 18.5% | ||
Finance costs | (348) | (376) | ‐7.4% | (636) | (474) | 34.2% | ||
Profit before income tax | 6.1 | 1,229 | 2,235 | ‐45.0% | 4,053 | 7,747 | ‐47.7% | |
Income tax expense | 7 | (474) | (329) | 44.1% | (1,068) | (944) | 13.1% | |
Profit for the financial | ||||||||
period/year, representing total | ||||||||
comprehensive income for the | ||||||||
financial period/year | 755 | 1,906 | ‐60.4% | 2,985 | 6,803 | ‐56.1% | ||
Profit and total comprehensive | ||||||||
income attributable to: | ||||||||
Owners of the parent | 739 | 1,738 | ‐57.5% | 2,790 | 6,380 | ‐56.3% | ||
Non‐controlling interests | 16 | 168 | ‐90.5% | 195 | 423 | ‐53.9% | ||
755 | 1,906 | ‐60.4% | 2,985 | 6,803 | ‐56.1% | |||
Earnings per share (in cents) | ||||||||
‐ Basic and diluted | 9 | 0.50 | 1.17 | ‐57.3% | 1.87 | 4.28 | ‐56.3% | |
N.M. - Not meaningful
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B. Condensed interim statements of financial position
Group | Company | ||||
31 May 2023 | 31 May 2022 | 31 May 2023 | 31 May 2022 | ||
Note | (Unaudited) | (Audited) | (Unaudited) | (Audited) | |
S$'000 | S$'000 | S$'000 | S$'000 | ||
ASSETS | |||||
Non‐current assets | |||||
Plant and equipment | 11 | 1,598 | 1,496 | 13 | 12 |
Intangible assets | 12 | 3,358 | 4,037 | ‐ | 2 |
Right‐of‐use assets | 2,898 | 2,383 | 39 | 99 | |
Investments in subsidiaries | 13 | ‐ | ‐ | 13,464 | 14,339 |
Investment in associates | 14 | 3,116 | 480 | 3,116 | 480 |
Investment in joint ventures | 182 | 182 | 182 | 182 | |
Debt instruments at amortised cost | ‐ | 1,882 | ‐ | 1,882 | |
Financial assets at FVTPL | 15 | 5,850 | 10,044 | 5,850 | 10,044 |
Deferred tax assets | 43 | 99 | ‐ | ‐ | |
Derivative financial instruments | 16 | 1,397 | 1,242 | 1,901 | 1,738 |
Other receivables | 119 | ‐ | 155 | 36 | |
18,561 | 21,845 | 24,720 | 28,814 | ||
Current assets | |||||
Inventories | 445 | 376 | ‐ | ‐ | |
Trade and other receivables | 1,749 | 1,556 | 2,466 | 1,909 | |
Prepayments | 246 | 255 | 95 | 114 | |
Debt instruments at amortised cost | 1,882 | ‐ | 1,882 | ‐ | |
Financial assets at FVTPL | 15 | 2,193 | ‐ | 2,193 | ‐ |
Cash and bank balances | 6,187 | 6,928 | 3,205 | 2,837 | |
12,702 | 9,115 | 9,841 | 4,860 | ||
Total assets | |||||
31,263 | 30,960 | 34,561 | 33,674 | ||
EQUITY AND LIABILITIES | |||||
Equity | |||||
Share capital | 17 | 15,419 | 15,419 | 15,419 | 15,419 |
Treasury shares | (996) | (996) | (996) | (996) | |
Merger reserve | (815) | (815) | ‐ | ‐ | |
Capital reserve | 18 | (13,652) | (13,652) | (164) | (164) |
Other reserve | 19 | (1,172) | (2,633) | ‐ | ‐ |
Retained earnings | 13,191 | 13,677 | 7,310 | 6,383 | |
Equity attributable to owners of the | |||||
parent | 11,975 | 11,000 | 21,569 | 20,642 | |
Non‐controlling interests | 108 | 221 | ‐ | ‐ | |
Total equity | 12,083 | 11,221 | 21,569 | 20,642 |
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B. Condensed interim statements of financial position (continued)
Group | Company | ||||
31 May 2023 | 31 May 2022 | 31 May 2023 | 31 May 2022 | ||
Note | (Unaudited) | (Audited) | (Unaudited) | (Audited) | |
S$'000 | S$'000 | S$'000 | S$'000 | ||
Non‐current liabilities | |||||
Deferred tax liabilities | 88 | 98 | ‐ | ‐ | |
Derivative financial instruments | 16 | 556 | 28 | 556 | 28 |
Other financial liabilities | 20 | 578 | 2,096 | ‐ | ‐ |
Other payables | 21 | 3,204 | 5,723 | 3,204 | 5,723 |
Bank borrowings | 22 | 1,288 | 2,550 | 1,288 | 2,550 |
Provisions | 144 | 106 | 21 | 21 | |
Lease liabilities | 1,897 | 1,492 | 36 | 76 | |
7,755 | 12,093 | 5,105 | 8,398 | ||
Current liabilities | |||||
Trade and other payables | 21 | 8,096 | 4,436 | 6,201 | 3,060 |
Bank borrowings | 22 | 1,262 | 1,237 | 1,262 | 1,237 |
Provisions | 13 | ‐ | ‐ | ‐ | |
Lease liabilities | 1,049 | 973 | 181 | 198 | |
Current income tax payable | 1,005 | 1,000 | 243 | 139 | |
11,425 | 7,646 | 7,887 | 4,634 | ||
Total liabilities | |||||
19,180 | 19,739 | 12,992 | 13,032 | ||
Total equity and liabilities | |||||
31,263 | 30,960 | 34,561 | 33,674 | ||
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