Secura : H1 FY2022 results announcement

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SECURA GROUP LIMITED

Incorporated in the Republic of Singapore

Registration No. 201531866K

UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE

HALF YEAR ENDED 30 JUNE 2022

This announcement has been prepared by Secura Group Limited (the "Company") and has been reviewed by the Company's sponsor, United Overseas Bank Limited (the "Sponsor"), for compliance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist (the "Catalist Rules").

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact persons for the Sponsor are Mr. David Tham, Senior Director, Equity Capital Markets and Ms. Priscilla Ong, Vice President, Equity Capital Markets, who can be contacted at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624, telephone: [phone].

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TABLE OF CONTENTS	Page
Condensed interim statements of profit or loss and other comprehensive income	3
Condensed interim statements of financial position	4
Condensed interim statements of changes in equity	6
Condensed interim consolidated statements of cash flows	7
Notes to the condensed interim financial statements	8
Other information required under the Catalist Rules	15

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1(a) An income statement and statement of comprehensive income or a statement of comprehensive income for the group together with a comparative statement for the corresponding period of the immediately preceding financial year.

CONDENSED INTERIM STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

	Note		Group
				Increase/
		H1 FY2022	H1 FY2021	(Decrease)
		S$'000	S$'000	%
Revenue	2.12	21,662	18,185	19.1
Cost of sales		(20,005)	(16,171)	23.7
Gross profit		1,657	2,014	(17.7)
Other operating income	2.13	1,838	1,758	4.6
Distribution and selling expenses		(778)	(635)	22.5
Administrative expenses		(2,220)	(2,216)	0.2
Finance cost		(34)	(88)	(61.4)
Share of results of joint ventures and associates		129	10	N.M
Write back on financial assets		-	10	N.M
Profit before tax	2.14	592	853	(30.6)
Income tax expense		(133)	(37)	N.M
Profit for the period		459	816	(43.8)
Other comprehensive income
Items that may be classified subsequently to profit or loss
Foreign currency translation		-	(1)	N.M
Share of foreign currency translation of joint ventures and
associates		5	-	N.M
Total comprehensive income for the period		464	815	(43.1)
Profit for the period attributable to:
Owners of the Company		459	816	(43.8)
		459	816	(43.8)
Total comprehensive income attributable to:
Owners of the Company		464	816	(43.1)
Non-controlling interests		-	(1)	N.M
		464	815	(43.1)
Earnings per share (cents per share)
Basic and diluted earnings per share		0.11	0.20

N.M: Not meaningful

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

CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION

		Group		Company
	Note	As at	As at		As at	As at
		30/06/2022	31/12/2021	30/06/2022	31/12/2021
		S$'000	S$'000		S$'000	S$'000
Non-current assets
Property, plant and equipment	2.6	22,843	23,378	14,284	14,360
Right-of-use assets		1,049	1,135		-	-
Investment property		492	501	2,460	2,505
Investment in subsidiaries		-	-	22,284	22,284
Investment in joint ventures		693	688		-	-
Investment in associates		1,613	1,573		-	-
		26,690	27,275	39,028	39,149
Current assets
Inventories		587	705		-	-
Trade and other receivables	2.7	9,237	7,555	26	22
Contract assets		479	890		-	-
Prepaid operating expenses		472	384	53	24
Amounts due from subsidiaries		-	-	393	501
Amount due from joint ventures		41	-		-	-
Cash and cash equivalents	2.8	16,160	17,412	2,897	4,770
		26,976	26,946		3,369	5,317
Total assets		53,666	54,221	42,397	44,466
Current liabilities
Trade and other payables	2.9	3,788	2,881	244	242
Contract liabilities		338	336		-	-
Accrued operating expenses		1,595	1,492	139	195
Lease liabilities	2.10	72	109		-	-
Bank loan	2.10	295	295	295	295
Amount due to subsidiaries		-	-	1,202	1,202
Amount due to joint ventures		-	191		-	-
Income tax payable		449	323		-	-
		6,537	5,627		1,880	1,934
Net current assets		20,439	21,319	1,489	3,383
Non-current liabilities
Lease liabilities	2.10	788	836		-	-
Provision of reinstatement cost		122	122		-	-
Bank loan	2.10	2,392	2,531	2,392	2,531
Deferred tax liabilities		731	873		-	-
		4,033	4,362		2,392	2,531
Total liabilities		10,570	9,989		4,272	4,465
Net assets		43,096	44,232	38,125	40,001
Equity
Share capital	2.11	61,644	61,644	61,644	61,644
Merger reserve		(16,291)	(16,291)		-	-
Foreign currency translation
reserve		(37)	(42)		-	-
Employee share option reserve		111	396	111	396
Accumulated losses		(2,331)	(1,475)	(23,630)	(22,039)
Total equity		43,096	44,232	38,125	40,001

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1(c) 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.

CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY

Group

At 1 January 2022

Profit for the period

Other comprehensive income

Foreign currency translation

Other comprehensive income for the period, net of tax

Total comprehensive income for the period

Contributions by and distributions to owners

Lapse of equity-settled share options

Dividend paid on ordinary shares

At 30 June 2022

Group

At 1 January 2021

Profit for the period

Other comprehensive income

Foreign currency translation

Other comprehensive income for the period, net of tax

Total comprehensive income for the period

Contributions by and distributions to owners

Grant of equity-settled share options to employees

Dividend paid on ordinary shares

At 30 June 2021

		Foreign	Employee
		currency	share		Non-
Share	Merger	translation	option	Accumulated	controlling	Total
capital	reserve	reserve	reserve	losses	interests	equity
(S$'000)	(S$'000)	(S$'000)	(S$'000)	(S$'000)	(S$'000)	(S$'000)
61,644	(16,291)	(42)	396	(1,475)	-	44,232
-	-	-	-	459	-	459
-	-	5	-	-	-	5
-	-	5	-	-	-	5
-	-	5	-	459	-	464
-	-	-	(285)	285	-	-
-	-	-	-	(1,600)	-	(1,600)
61,644	(16,291)	(37)	111	(2,331)	-	43,096
		Foreign	Employee
		currency	share		Non-
Share	Merger	translation	option	Accumulated	controlling	Total
capital	reserve	reserve	reserve	losses	interests	equity
(S$'000)	(S$'000)	(S$'000)	(S$'000)	(S$'000)	(S$'000)	(S$'000)
61,644	(16,291)	(71)	389	(2,316)	49	43,404
-	-	-	-	816	-	816
-	-	-	-	-	(1)	(1)
-	-	-	-	-	(1)	(1)
-	-	-	-	816	(1)	815
-	-	-	7	-	-	7
-	-	-	-	(1,600)	-	(1,600)
61,644	(16,291)	(71)	396	(3,100)	48	42,626