UNIMECH GROUP BERHAD [199601035227 (407580-X)]
INTERIM FINANCIAL REPORT FOR THE FOURTH QUARTER ENDED 31 DECEMBER 2022
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2022
As at | As at | |
31-Dec-22 | 31-Dec-21 | |
(Unaudited) | (Audited) | |
ASSETS | RM'000 | RM'000 |
Non-current assets | ||
Property, plant and equipment ("PPE") | 98,134 | 89,865 |
Investment properties | 7,872 | 8,275 |
Right of use assets ("ROU") | 24,734 | 27,799 |
Investment in associates | 22,915 | 21,419 |
Investment securities | 2,114 | 2,909 |
Intangible assets | 144 | 152 |
Other receivables | 763 | 763 |
Deferred tax assets | 1,256 | 1,233 |
157,932 | 152,415 | |
Current assets | ||
Inventories | 196,042 | 178,509 |
Trade and other receivables | 101,190 | 102,783 |
Tax recoverable | 161 | 587 |
Cash and bank balances | 50,094 | 53,210 |
347,487 | 335,089 | |
TOTAL ASSETS | 505,419 | 487,504 |
EQUITY AND LIABILITIES | ||
Equity | ||
Share capital | 99,588 | 99,588 |
Treasury shares | (3,766) | (3,654) |
Reserves | (2,162) | (2,111) |
Retained earnings | 217,944 | 194,670 |
Equity attributable to owners of the parent | 311,604 | 288,493 |
Non-controlling interests | 54,904 | 49,051 |
Total equity | 366,508 | 337,544 |
Liabilities | ||
Non-Current Liabilities | ||
Bank borrowings | 15,942 | 17,475 |
Lease liabilities | 3,829 | 4,508 |
Deferred tax liabilities | 748 | 505 |
20,519 | 22,488 | |
Current liabilities | ||
Trade and other payables | 44,912 | 49,384 |
Bank borrowings | 68,410 | 72,331 |
Lease liabilities | 1,479 | 2,855 |
Tax payable | 3,591 | 2,902 |
118,392 | 127,472 | |
Total liabilities | 138,911 | 149,960 |
TOTAL EQUITY AND LIABILITIES | 505,419 | 487,504 |
The condensed consolidated statement of financial position should be read in conjunction with the audited financial statements for the year ended 31 December 2021 and the accompanying explanatory notes attached to the interim financial statements.
Page 1 of 15
UNIMECH GROUP BERHAD [199601035227 (407580-X)]
INTERIM FINANCIAL REPORT FOR THE FOURTH QUARTER ENDED 31 DECEMBER 2022
CONDENSED CONSOLIDATED INCOME STATEMENTS
FOR THE TWELVE MONTHS ENDED 31 DECEMBER 2022 (UNAUDITED)
Current quarter | Cumulative quarter | |||
3 months ended | 12 months ended | |||
31 December | 31 December | |||
2022 | 2021 | 2022 | 2021 | |
RM '000 | RM '000 | RM '000 | RM '000 | |
Revenue | 81,730 | 80,096 | 332,409 | 289,084 |
Operating expenses | (70,683) | (70,501) | (280,829) | (249,691) |
Other income | 515 | 1,850 | 2,978 | 3,955 |
Operating profit | 11,562 | 11,445 | 54,558 | 43,348 |
Interest expense | (2,193) | (1,878) | (7,270) | (6,768) |
Interest income | 115 | 46 | 436 | 232 |
Share of results of associates | 287 | 1,197 | 2,415 | 2,189 |
Profit before tax | 9,771 | 10,810 | 50,139 | 39,001 |
Taxation | (2,120) | (1,382) | (13,514) | (10,243) |
Profit for the period/year | 7,651 | 9,428 | 36,625 | 28,758 |
Profit attributable to: | ||||
Owners of the parent | 6,878 | 8,521 | 30,655 | 23,941 |
Non-controlling interests | 773 | 907 | 5,970 | 4,817 |
Profit for the period/year | 7,651 | 9,428 | 36,625 | 28,758 |
Earnings per share ("EPS") attributable to owners | ||||
of the parent (sen): | ||||
Basic EPS | 4.66 | 5.78 | 20.77 | 16.21 |
Diluted EPS | N/A | N/A | N/A | N/A |
The condensed consolidated income statements should be read in conjunction with the audited financial statements for the year ended 31 December 2021 and the accompanying explanatory notes attached to the interim financial statements.
Page 2 of 15
UNIMECH GROUP BERHAD [199601035227 (407580-X)]
INTERIM FINANCIAL REPORT FOR THE FOURTH QUARTER ENDED 31 DECEMBER 2022
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME FOR THE TWELVE MONTHS ENDED 31 DECMBER 2022 (UNAUDITED)
Profit for the period/year
Other comprehensive income/(expenses), net of tax:
Currency translation differences arising from consolidation
Fair value movements on available for sale investments
Total comprehensive income/(loss) for the period/year
Current quarter | Cumulative quarter | ||
3 months ended | 12 months ended | ||
31 December | 31 December | ||
2022 | 2021 | 2022 | 2021 |
RM '000 | RM '000 | RM '000 | RM '000 |
7,651 | 9,428 | 36,625 | 28,758 |
(7,141) | (4,991) | 708 | 670 |
(601) | 282 | (759) | (13) |
(91) | 4,719 | 36,574 | 29,415 |
Total comprehensive income/(loss) attributable to: | ||||
Owners of the parent | (864) | 3,292 | 30,604 | 24,078 |
Non-controlling interests | 773 | 1,427 | 5,970 | 5,337 |
(91) | 4,719 | 36,574 | 29,415 |
The condensed consolidated statement of comprehensive income should be read in conjunction with the audited financial statements for the year ended 31 December 2021 and the accompanying explanatory notes attached to the interim financial statements.
Page 3 of 15
UNIMECH GROUP BERHAD [199601035227 (407580-X)]
INTERIM FINANCIAL REPORT FOR THE FOURTH QUARTER ENDED 31 DECEMBER 2022
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR TWELVE MONTHS ENDED 31 DECEMBER 2022 (UNAUDITED)
Cumulative quarter | ||
12 months ended | ||
31 December | ||
2022 | 2021 | |
RM'000 | RM'000 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Profit before tax | 50,139 | 39,001 |
Adjustments for: | ||
Depreciation and amortisation | 7,648 | 7,878 |
Other non-cash items and non-operating items | 2,596 | 9,855 |
Operating profit before working capital changes | 60,383 | 56,734 |
Inventories | (20,485) | (4,304) |
Receivables | 1,593 | (10,433) |
Payables | (4,472) | 1,694 |
Cash generated from operating activities | 37,019 | 43,691 |
Interest paid | (7,270) | (6,803) |
Net of tax paid | (11,812) | (10,063) |
Net cash from operating activities | 17,937 | 26,825 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Dividend received | 41 | 498 |
Interest received | 436 | 297 |
Issue of shares to non-controlling interests | 100 | - |
Net of changes of investment in subsidiaries and associates | 163 | 4,491 |
Net of purchase and disposal of investment securities | 2,921 | 88 |
Net of purchase and disposal of PPE and ROU | (12,748) | (6,281) |
Net cash used in investing activities | (9,087) | (907) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Dividend paid | (7,761) | (5,512) |
Net of repurchase & resold of treasury shares | (112) | (1,246) |
Net changes in bank borrowings | (5,454) | (5,479) |
Net changes in lease liabilities | (2,056) | (4,264) |
Net cash used in financing activities | (15,383) | (16,501) |
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS | (6,533) | 9,417 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF | 50,790 | 43,348 |
FINANCIAL YEAR | ||
Effect of foreign exchange rates changes | 2,830 | (1,975) |
CASH AND CASH EQUIVALENTS AT END OF FINANCIAL YEAR | 47,087 | 50,790 |
CASH AND CASH EQUIVALENTS COMPRISED THE FOLLOWING: | ||
Cash and bank balances | 50,094 | 53,210 |
Overdrafts | (3,007) | (2,420) |
47,087 | 50,790 |
The condensed consolidated cash flow statements should be read in conjunction with the audited financial statements for the year ended 31 December 2021 and the accompanying explanatory notes attached to the interim financial statements.
Page 4 of 15
UNIMECH GROUP BERHAD [199601035227 (407580-X)]
INTERIM FINANCIAL REPORT FOR THE FOURTH QUARTER ENDED 31 DECEMBER 2022
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR TWELVE MONTHS ENDED 31 DECEMBER 2022 (UNAUDITED)
|----------------------------------- | Non-Distributable--------------------------------- | | Distributable | |||||||
|---------------------------- | Attributable to owners of the parent --------------------------------- | | | |||||||
Currencies | Non- | ||||||||
Treasury | Capital | translation | Fair value | Retained | controlling | ||||
(RM'000) | Share capital | shares | reserve | reserve | reserve | earnings | Total | interests | Total equity |
Balance as at 1 January 2021 | 99,584 | (2,404) | 892 | 1,213 | (4,272) | 176,404 | 271,417 | 41,460 | 312,877 |
Purchase of treasury shares | - | (1,257) | - | - | - | - | (1,257) | - | (1,257) |
Disposal of treasury shares | 4 | 7 | - | - | - | - | 11 | - | 11 |
Changes in equity | - | - | - | - | - | (587) | (587) | 2,555 | 1,968 |
Dividend paid | - | - | - | - | - | (5,169) | (5,169) | (342) | (5,511) |
Total comprehensive income/(loss) | - | - | - | 150 | (94) | 24,022 | 24,078 | 5,378 | 29,456 |
for the year | |||||||||
Balance as at 31 December 2021 | 99,588 | (3,654) | 892 | 1,363 | (4,366) | 194,670 | 288,493 | 49,051 | 337,544 |
Balance as at 1 January 2022 Purchase of treasury shares Changes in equity
Dividend paid
Total comprehensive income/(loss) for the year
Balance as at 31 December 2022
99,588 | (3,654) | 892 | 1,363 | (4,366) | 194,670 | 288,493 | 49,051 | 337,544 |
- | (112) | - | - | - | - | (112) | - | (112) |
- | - | - | - | - | - | - | 263 | 263 |
- | - | - | - | - | (7,381) | (7,381) | (380) | (7,761) |
- | - | - | 708 | (759) | 30,655 | 30,604 | 5,970 | 36,574 |
99,588 | (3,766) | 892 | 2,071 | (5,125) | 217,945 | 311,605 | 54,904 | 366,509 |
The condensed consolidated statements of changes in equity should be read in conjunction with the audited financial statements for the year ended 31 December 2021 and the accompanying explanatory notes attached to the interim financial statements.
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Unimech Group Bhd published this content on 27 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2023 08:27:16 UTC.