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PPK : Preliminary Final Report - Year Ended 30 June 2017
PPK : Preliminary Final Report - Year Ended 30 June
About this update from Ppk Group Limited
PPK Group Limited Appendix 4E: Results for Announcement to the Market Preliminary Final Report 1. Company details Name of entity: PPK Group Limited ABN: Reporting period: Previous period: 65 003 964 181 For the year ended 30 June 2017 For the year ended 30 June 2016 2. Results for announcement to the market 2017 Revenues from ordinary activities up 9.6% $'000 29,218 Profit/(loss) from ordinary activities after tax attributable to the owners of PPK Group Limited up 107.2% 560 Profit/(loss) after tax attributable to the owners of PPK Group Limited up 107.2% 560 Basic earnings per share up 2017 Cents 0.8 2016 Cents (13.4) Diluted earnings per share up 0.8 (13.4) Comments The after tax profit (loss) for the Group, after providing for non-controlling interests was $0.560M (30 June 2016: loss of $7.763M). An explanation of the above figures is contained in the Commentary on Results in this Preliminary Final Report. 3. Net tangible assets 2017 2016 Net tangible assets per ordinary security Cents 21.73 Cents 28.94 4. Control gained over entities There were no entities acquired or disposed during the year - refer to note 15 "Investments Accounted for Using the Equity Method" in the attached Preliminary Final Report. Loss of control over entities There was no change in control of entities during the year - refer to Note 10 "Details of Changes in Investments in Controlled Entities" in the attached Preliminary Final Report. Details of associates and joint ventures There was no change in associates or joint ventures during the year - refer to note 15 "Investments Accounted for Using the Equity Method" in the attached Preliminary Final Report. Details of available-for-sale financial assets The Group has sold a significant number of listed shares during the year - refer to note 14 "Financial Assets" in the attached Preliminary Final Report. Segment information The Company operates in the following segments: The Investment Property segment sold its last industrial property during the year. The Investing segment still owns a small portfolio of listed shares at year end. The Mining Equipment segment designs, manufactures, distributes and services underground mining equipment. Refer to note 18 in the Preliminary Final Report. Dividends Current period No dividends were declared for the year ended 30 June 2017 - refer to Note 8 in the Preliminary Final Report. Previous period No dividends were declared for the year ended 30 June 2016 - refer to Note 8 in the Preliminary Final Report. Dividend reinvestment plans Not applicable. Basis of Preparation of the Financial Statements The Company is incorporated in Australia and its financial statements have been prepared in accordance with Australian Accounting Standards - refer to note 2 and note 3 in the Preliminary Final Report. Audit qualification or review Details of audit/review dispute or qualification (if any): The financial statements are in the process of being audited and an unqualified opinion is likely to be issued. Attachments Details of attachments (if any): There are no attachments. Signed Signed 31 August 2017 Andrew J. Cooke Company Secretary Sydney PPK Group Limited ABN 65 003 964 181 Appendix 4E (ASX LISTING RULE 4.3A) PRELIMINARY FINAL REPORT FINANCIAL YEAR ENDED 30 JUNE 2017 Contents Page Highlights of Results for Announcement to the Market 4 Commentary on Results 4 Financial Information 5 Notes to the Financial Information 10 This information is provided to the Australian Securities Exchange (ASX) under ASX Listing Rule 4.3A and should be read in conjunction with the most recent annual financial report. HIGHLIGHTS OF RESULTS FOR ANNOUNCEMENT TO THE MARKET 30 June 2017 $000s 30 June 2016 $000s Change $000s Change % REVENUE FROM ORDINARY ACTIVITIES 29,218 26,660 2,558 10% PROFIT (LOSS) BEFORE INCOME TAX EXPENSE 560 (7,873) 8,433 107% PROFIT (LOSS) AFTER INCOME TAX EXPENSE 560 (7,740) 8,300 107% PROFIT (LOSS) AFTER TAX ATTRIBUTABLE TO OWNERS OF PPK GROUP LTD 560 (7,763) 8,323 107% EARNINGS (LOSS) PER SHARE cents 0.8 cents (13.4) cents 14.2 106% Current Year Cents Prior Year Cents - - - - - - DIVIDENDS INTERIM DIVIDEND PER SHARE (FULLY FRANKED) FINAL DIVIDEND PER SHARE The date, time and venue of the Company's Annual General Meeting is to be advised. COMMENTARY ON THE RESULTS PPK Group Limited (PPK) reported a net profit after tax attributable to owners of PPK of $0.560M for the 12 months to 30 June 2017 (2016: $7.763M loss). Group revenue for the 12 months was $29,218M (2016: $26,660M) with revenue from mining equipment sales and mining services of $28.945M (2016: $26.075M) and revenue from investment properties of $0.273M (2016: $0.585M). Other income of $5.108M (2016: $1.597M) was primarily the gain from the sale of the Seven Hills Industrial property in January 2017 of $4.433M, gains from the sale of PPK's share portfolio of $0.244M (2016: $1.548M), recovery of a debt previously written off of $0.396M and other miscellaneous income of $0.030M (2016: $0.048M). Please see the commentary from PPK's Chairman, Robin Levison, in the 2017 Annual Report which is to be lodged on Friday, 8 September 2017 for a more detailed analysis of the 2017 results and commentary on the state of the mining equipment business unit and general underground coal mining conditions.