Financial Statements and Related Announcement::Full Yearly Results

LASSETERS INTERNATIONAL HOLDINGS LIMITED

(Company Registration No. 200402223M)

CONSOLIDATED FULL YEAR FINANCIAL STATEMENTS (UNAUDITED) FOR THE SIX MONTHS AND YEAR ENDED 30 JUNE 2021

INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2 & Q3), HALF-YEAR AND FULL YEAR RESULTS

An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year. These figures have not been audited.

						Group
			6 months ended 30	Increase/	12 months ended 30	Increase/
			June		(Decrease)		June	(Decrease)
(AUD'000)	Note		2021	2020	%	2021	2020	%
Revenue	3.2	61	10	>100.0	74	28	>100.0

Consumables

Employee benefits expense Depreciation expenses Amortisation of right-of-use assets

Advertising and promotional expenses

Other operating expenses

Total operating expenses

Loss from operations

Loss allowance on trade and other receivables

Finance costs

Share of losses of joint venture

Loss before income tax from continuing operations

Income tax

Loss for the financial year from continuing operations

Profit/(Loss) for the financial year from discontinued operations

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

Other comprehensive loss:

Exchange differences on translating foreign operations

Changes in revaluation reserve

Other comprehensive loss for the financial year, net of tax

TOTAL COMPREHENSIVE LOSS FOR THE FINANCIAL YEAR

	(11)	-	(100.0)	(11)	-	(100.0)
	(822)	(899)	(8.6)	(1,579)	(1,672)	(5.6)
	(4)	(6)	(33.3)	(10)	(13)	(23.1)
	(54)	(77)	(29.9)	(127)	(156)	(18.6)
	(4)	-	(100.0)	(4)	(4)	-
	(44)	(359)	(87.7)	(554)	(753)	(26.4)
	(939)	(1,341)	(30.0)	(2,285)	(2,598)	(12.0)
	(878)	(1,331)	(34.0)	(2,211)	(2,570)	(14.0)
	-	(24)	100.0	-	(24)	100.0
	(239)	(590)	(59.5)	(756)	(1,141)	(33.7)
	(87)	(66)	31.8	(87)	(94)	(7.4)
4	(1,204)	(2,011)	(40.1)	(3,054)	(3,829)	(20.2)
5	(293)	(47)	>100.0	(293)	(66)	>100.0
	(1,497)	(2,058)	(27.3)	(3,347)	(3,895)	(14.1)
6	5,110	(3,138)	>100.0	9,981	(2,891)	>100.0
	3,613	(5,196)	>100.0	6,634	(6,786)	>100.0

(333)	(76)	>100.0	(132)	(51)	>100.0
(11,370)	(5,258)	>100.0	(11,370)	(5,258)	>100.0
(11,703)	(5,334)	>100.0	(11,502)	(5,309)	>100.0
(8,090)	(10,530)	(23.2)	(4,868)	(12,095)	(59.8)

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An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year. These figures have not been audited. (cont'd)

								Group
				6 months ended 30	Increase/		12 months ended 30	Increase/
				June	(Decrease)		June	(Decrease)
	(AUD'000)	Note		2021	2020		%		2021	2020		%
	Profit/(Loss) for the financial
	year attributable to:
	Owners of the parent		3,622	(5,171)		>100.0	6,682	(6,750)		>100.0
	Non-controlling interests			(9)	(25)		(64.0)		(48)	(36)		33.3
			3,613	(5,196)		>100.0	6,634	(6,786)		>100.0
	Total comprehensive loss for
	the financial year attributable
	to:
	Owners of the parent		(8,081)	(10,524)		(23.2)	(4,814)	(12,080)		(60.1)
	Non-controlling interests			(9)	(6)		50.0		(54)	(15)		>100.0
				(8,090)	(10,530)		(23.2)		(4,868)	(12,095)		(59.8)

Profit/(loss) per share attributable to the owners of the parent

- Basic and diluted (AUD cents)

Loss per share from continuing operations attributable to the owners of the parent

- Basic and diluted (AUD cents)

Profit/(loss) per share from

discontinued operations attributable to the owners of the parent

7

0.75

(1.07)

>100.0

1.38

(1.40)

>100.0

7

(0.31)

(0.42)

(26.2)

(0.68)

(0.80)

(15.0)

- Basic and diluted (AUD cents)	7	1.06	(0.65)	>100.0	2.06	(0.60)	>100.0

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A balance sheet (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year.

				Group			Company
	(AUD'000)	Note		30 June 2021			30 June 2020		30 June 2021		30 June 2020
	Non-current assets
	Property, plant and equipment	8	9			122,611		-	-
	Investment in subsidiaries		-			-		14,380	14,309
	Investment in joint venture		2,170			2,098		-	-
	Membership right		-			38		-	38
	Right-of-use assets		100			1,730		-	-
			2,279			126,477		14,380	14,347
	Current assets
	Inventories		15			541		-	-
	Trade and other receivables		1,281			1,022		8,399	11
	Cash and bank balances		5,742			1,071		97	16
			7,038			2,634		8,496	27
	Assets classified as held for sale	6.3		105,452			-		-		-
			112,490			2,634		8,496	27
	Less:
	Current liabilities
	Trade and other payables		7,962			8,715		641	3,003
	Provision for employee entitlements		-			1,174		-	-
	Current income tax payables		717			28		-	-
	Bank borrowings - secured	9	6,640			2,410		-	-
	Lease liabilities	9	119			1,034		-	-
			15,438			13,361		641	3,003
	Liabilities classified as held for sale	6.3		3,441			-		-		-
				18,879			13,361		641		3,003
	Net current assets/(liabilities)		93,611			(10,727)		7,855	(2,976)
	Less:
	Non-current liabilities
	Trade and other payables		1,122			1,051		-	-
	Provision for employee entitlements		-			191		-	-
	Bank borrowings - secured	9	57,226			63,636		-	-
	Lease liabilities	9	124			1,601		-	-
	Deferred tax liabilities		6,955			13,821		2	2
			65,427			80,300		2	2
	Net assets		30,463			35,450		22,233	11,369
	Equity
	Share capital	11	57,554			57,554		57,554	57,554
	Treasury shares	12	(426)			(426)		(426)	(426)
	Capital reserve		-			119		-	-
	Foreign currency translation reserve		(3,638)			(3,512)		(1,717)	(1,717)
	Revaluation reserve		35,403			46,773		-	-
	Accumulated losses		(58,452)			(65,134)		(33,178)	(44,042)
	Equity attributable to the owners of
	the parent		30,441			35,374		22,233	11,369
	Non-controlling interests		22			76		-	-
	Total equity		30,463			35,450		22,233	11,369

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A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the immediately preceding financial year.

							Group
					Foreign
					currency				Non-
	Share	Treasury Capital translation Revaluation Accumulated		controlling Total
(AUD'000)	capital	shares	reserve	reserve	reserve	Loss	Subtotal	interests	equity
Balance at 1 July 2019	57,554	(426)	-	(3,440)	52,031	(58,384)	47,335	91	47.426
Issuance of redeemable non-
convertible
preference shares	-	-	119	-	-	-	119	-	119
Total comprehensive loss
for the financial year	-	-	-	(72)	(5,258)	(6,750)	(12,080)	(15)	(12,095)
Balance at 30 June 2020	57,554	(426)	119	(3,512)	46,773	(65,134)	35,374	76	35,450
Balance at 1 July 2020	57,554	(426)	119	(3,512)	46,773	(65,134)	35,374	76	35,450
Issuance of redeemable non-
convertible
preference shares	-	-	(119)	-	-	-	(119)	-	(119)
Total comprehensive loss
for the financial year	-	-	-	(126)	(11,370)	6,682	(4,814)	(54)	(4,868)
Balance at 30 June 2021	57,554	(426)	-	(3,638)	35,403	(58,452)	30,441	22	30,463
							Company
							Foreign
							currency
					Share	Treasury	translation	Accumulated	Total
(AUD'000)					capital	shares	reserve	loss	equity
Balance at 1 July 2019					57,554	(426)	(1,717)	(40,644)	14,767
Total comprehensive loss for the financial year			-	-	-	(3,398)	(3,398)
Balance at 30 June 2020					57,554	(426)	(1,717)	(44,042)	11,369
Balance at 1 July 2020					57,554	(426)	(1,717)	(44,042)	11,369
Total comprehensive income for the financial year	-	-	-	10,864	10,864
Balance at 30 June 2021					57,554	(426)	(1,717)	(33,178)	22,233

Page 4 of 22

A cash flow statement (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year

			Group
(AUD'000)		30 June 2021			30 June 2020
Cash flows from operating activities
Loss before income tax from continuing operations	(3,054)	(3,829)
Profit/(Loss) before income tax from discontinued operations		10,109			(3,671)
	7,055	(7,500)
Adjustments for:
Amortisation of right-of-use assets	315	761
Depreciation expenses	4,745	6,510
Loss allowance on trade and other receivables	-	47
Impairment in value of inventory	-	46
Impairment in value of property, plant and equipment	-	109
Impairment in value of right-of-use assets	-	947
Interest expense	2,538	3,581
Interest income	-	(6)
Gain on disposal of property, plant and equipment	-	(9)
Gain on disposal of assets held for sale	-	(9)
Net gain on modification of lease term	(977)	-
Share of losses of joint venture		87			94
Operating cash flows before working capital changes	13,763	4,571
Working capital changes:
Inventories	(103)	203
Trade and other receivables	(259)	728
Trade and other payables	157	(1,769)
Cash generated from operations	13,558	3,733
Interest received	-	5
Interest paid	(2,538)	(3,581)
Income tax paid	(1,772)	(540)

Net cash from/(used in) operating activities	9,248	(383)
Cash flows from investing activities
Proceeds from disposal of property, plant and equipment	-	23
Proceeds from disposal of assets held for sale	-	2,541
Purchase of property, plant and equipment	(1,185)	(398)
Subscription of redeemable non-convertiblenon-cumulative preference
shares in joint venture	(300)	(748)
Advances to a joint venture	-	(333)
Foreign currency translation adjustment	(212)	(75)

Net cash (used in)/from investing activities	(1,697)	1,010
Cash flows from financing activities
Draw down of bank borrowings	-	1,850
Repayments of bank borrowings	(1,750)	(2,000)
Repayments of finance lease obligations	(714)	(1,182)
Proceeds from issuance of redeemable non-convertible preference shares	-	838
Foreign currency translation adjustment	(12)	(5)
Net cash used in financing activities	(2,476)	(499)
Net increase in cash and cash equivalents	5,075	128
Cash and cash equivalents at beginning of financial year	161	23
Currency translation adjustment on cash and cash equivalents	24		10
Cash and cash equivalents at end of financial year *	5,260	161

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