Intraco : Half Year Financial Statements for the Period Ended 30/06/2023

INTRACO LIMITED

(Incorporated in the Republic of Singapore) Company Registration Number 196800526Z

Condensed interim financial statements For the six months ended 30 June 2023

INTRACO LIMITED

CONDENSED INTERIM FINANCIAL STATEMENTS 30 JUNE 2023

Table of Contents

A. Consolidated statement of profit or loss and other comprehensive income ……………………………..…. 1

B. Statements of financial position ……………………………………………………………………………………...…….……. 3

1. Statements of changes in equity …………………………………………………………………………………………….….... 4
2. Consolidated statement of cash flows ………………………………………………….……………………………………… 7
3. Notes to the condensed interim financial statements …………………………………………………………….……. 8
4. Other information required by Listing Rule Appendix 7.2 ……………………………………………………….….. 21

INTRACO LIMITED

CONDENSED INTERIM FINANCIAL STATEMENTS 30 JUNE 2023

A. Consolidated statement of profit or loss
		H1 ended	H1 ended
	Note	30 June 2023	30 June 2022	Change
		S$'000	S$'000	%
Revenue	3	78,659	105,112	(25.2)
Cost of sales		(74,307)	(100,810)	(26.3)
Gross profit		4,352	4,302	1.2
Other income	4	148	288	(48.6)
Distribution expenses		(1)	(7)	(85.7)
Administrative expenses		(4,523)	(5,045)	(10.3)
Other expenses	5	(13)	(715)	(98.2)
Results from operating activities		(37)	(1,177)	(96.9)
Finance income		799	210	280.5
Finance costs		(378)	(139)	171.9
Net finance income	6	421	71	493.0
Share of profit of joint venture (net of tax)		-	105	(100.0)
Profit/(loss) before taxation	7	384	(1,001)	n.m.
Tax credit		7	6	16.7
Profit/(loss) for the period		391	(995)	(139.3)
Profit/(loss) attributable to:
Equity holders of the Company		369	(995)	n.m.
Non-controlling interests		22	-	100.0
		391	(995)	(139.3)
Profit/(loss) per share
Basic and diluted profit/(loss) per share (cents)	8	0.33	(0.89)

n.m. denotes not meaningful n.a. denotes not applicable

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INTRACO LIMITED

CONDENSED INTERIM FINANCIAL STATEMENTS 30 JUNE 2023

A. Consolidated statement of comprehensive income
	H1 ended	H1 ended
	30 June 2023	30 June 2022
	S$'000	S$'000
Profit/(Loss) for the period	391	(995)
Other comprehensive income
Items that are or may be reclassified
subsequently to profit or loss
Foreign currency translation differences of
foreign operations*	15	187
Share of other comprehensive income of joint venture *	-	66
Other comprehensive income for the period, net of tax	15	253
Total comprehensive income for the period	406	(742)

• There are no tax effects relating to these components of other comprehensive income.

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INTRACO LIMITED

CONDENSED INTERIM FINANCIAL STATEMENTS 30 JUNE 2023

B. Statements of financial position

		------------------ Group ----------------	---------------- Company ---------------
	Note	30 June 2023	31 December 2022	30 June 2023 31 December 2022
		S$'000	S$'000	S$'000	S$'000
Assets
Non-current assets
Property, plant and equipment		10,847	11,210	539	87
Intangible assets		229	248	19	39
Subsidiaries	9	-	-	21,758	21,758
Joint venture		-	-	-	-
Other investments	10	2,593	4,644	2,032	4,064
		13,669	16,102	24,348	25,948
Current assets
Inventories		3,295	2,902	-	-
Trade and other receivables		28,344	22,467	30,763	19,343
Contract assets		1,157	1,540	-	-
Other investments	10	13,988	19,880	13,988	19,880
Cash and cash equivalents	11	20,727	17,852	14,000	10,630
		67,511	64,641	58,751	49,853
Total assets		81,180	80,743	83,099	75,801
Equity
Share capital	12	88,495	88,495	88,495	88,495
Treasury shares	12	(359)	(359)	(359)	(359)
Reserves		(189)	(204)	12,864	12,864
Accumulated losses		(28,569)	(28,938)	(27,546)	(27,621)
Equity attributable to owners
of the Company		59,378	58,994	73,454	73,379
Non-controlling interests		57	35	-	-
Total equity		59,435	59,029	73,454	73,379
Liabilities
Non-current liabilities
Loans and borrowings	13	326	610	310	-
Deferred tax liabilities		473	480	-	-
		799	1,090	310	-
Current liabilities
Loans and borrowings	13	2,206	9,181	175	73
Financial liabilities		834	830	-
Trade and other payables		17,902	10,609	9,160	2,349
Current tax liabilities		4	4	-	-
		20,946	20,624	9,335	2,422
Total liabilities		21,745	21,714	9,645	2,422
Total equity and liabilities		81,180	80,743	83,099	75,801

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