5/27/24, 8:20 PM

Financial Statements and Related Announcement::Full Yearly Results

FINANCIAL STATEMENTS AND RELATED ANNOUNCEMENT::FULL YEARLY RESULTS

Issuer & Securities

Issuer/ Manager

CSC HOLDINGS LIMITED

Securities

CSC HOLDINGS LTD - SG1F84861094 - C06

Stapled Security

No

Announcement Details

Announcement Title

Financial Statements and Related Announcement

Date &Time of Broadcast

27-May-2024 19:52:25

Status

New

Announcement Sub Title

Full Yearly Results

Announcement Reference

SG240527OTHRJHE4

Submitted By (Co./ Ind. Name)

See Yen Tarn

Designation

Executive Director & Group Chief Executive Offcer

Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)

Financial Statements Announcement for the 6 months and 12 months ended 31 March 2024.

Additional Details

For Financial Period Ended

31/03/2024

Attachments

2HFY24.pdf

Total size =563K MB

CSC HOLDINGS LIMITED

(Company Registration Number: 199707845E)

Condensed Interim Financial Statements

For the 6 Months and 12 Months Ended

31 March 2024

Table of Contents

Page

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS

3

CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

4

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

5

CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY

7

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS

10

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS

12

1.

CORPORATE INFORMATION

12

2.

BASIS OF PREPARATION

12

3.

SEASONAL OPERATIONS

13

4.

REVENUE AND SEGMENT INFORMATION

14

5.

LOSS BEFORE TAX

18

6.

TAX EXPENSE/(CREDIT)

19

7.

LOSS PER SHARE

19

8.

PROPERTY, PLANT AND EQUIPMENT

20

9.

RIGHT-OF-USEASSETS AND LEASE LIABILITIES

21

10.

INVESTMENT PROPERTY

21

11.

INVENTORIES

21

12.

SHARE CAPITAL

21

13.

LOANS AND BORROWINGS

22

14.

DIVIDENDS

22

15.

NET ASSET VALUE

23

16.

COMMITMENTS

23

17.

RELATED PARTIES

23

18.

FAIR VALUE OF FINANCIAL INSTRUMENTS

25

OTHER INFORMATION REQUIRED BY LISTING RULE APPENDIX 7.2

28

1.

REVIEW OF THE PERFORMANCE OF THE GROUP

28

2.

OUTLOOK

35

3.

INTERESTED PERSON TRANSACTIONS

36

4.

AUDIT / REVIEW

36

5.

VARIANCE FROM PROSPECT STATEMENT

36

6.

DIVIDEND

36

7.

BREAKDOWN OF SALES

37

8.

CONFIRMATION

37

Page 2

Condensed Interim Consolidated Statement of Profit or Loss

For the 6 Months and 12 Months ended 31 March 2024

Group

Group

Note

6 months ended

Change

12 months ended

Change

31-Mar-24

31-Mar-23

31-Mar-24

31-Mar-23

$'000

$'000

%

$'000

$'000

%

Revenue

4a

158,912

146,586

8.4

305,338

264,599

15.4

Cost of sales

5a

(157,426)

(139,768)

12.6

(290,893)

(258,304)

12.6

Gross profit

(78.2)

>100.0

1,486

6,818

14,445

6,295

Other income

5b

1,504

694

>100.0

2,179

1,741

25.2

Operating expenses

- Distribution expenses

(466)

(500)

(6.8)

(789)

(1,109)

(28.9)

- Administrative expenses

5c

(15,308)

(14,428)

6.1

(29,443)

(29,172)

0.9

- Other operating income/(expenses)

5d

722

(509)

N.M.

591

(494)

N.M.

(2.5)

(3.7)

(15,052)

(15,437)

(29,641)

(30,775)

Results from operating activities

52.2

(42.8)

(12,062)

(7,925)

(13,017)

(22,739)

Net finance expenses

- Finance income

286

639

(55.2)

656

1,114

(41.1)

- Finance expenses

(3,723)

(3,106)

19.9

(7,224)

(5,679)

27.2

39.3

43.9

(3,437)

(2,467)

(6,568)

(4,565)

Share of loss of associates (net of tax)

(926)

(242)

>100.0

(792)

(84)

>100.0

Loss before tax

54.5

(25.6)

(16,425)

(10,634)

(20,377)

(27,388)

Tax (expense)/credit

6

(376)

393

N.M.

(164)

284

N.M.

64.1

(24.2)

Loss for the period/year

(16,801)

(10,241)

(20,541)

(27,104)

Attributable to:

(17,198)

(9,960)

72.7

(20,161)

(26,681)

(24.4)

Owners of the Company

Non-controlling interests

397

(281)

N.M.

(380)

(423)

(10.2)

Loss for the period/year

(16,801)

(10,241)

64.1

(20,541)

(27,104)

(24.2)

Gross profit margin

0.9%

4.7%

4.7%

2.4%

Net loss margin

-10.6%

-7.0%

-6.7%

-10.2%

Page 3

Condensed Interim Consolidated Statement of Comprehensive Income

For the 6 Months and 12 Months ended 31 March 2024

Group

Group

6 months ended

Change

12 months ended

Change

31-Mar-24

31-Mar-23

31-Mar-24

31-Mar-23

$'000

$'000

%

$'000

$'000

%

Loss for the period/year

(16,801)

(10,241)

64.1

(20,541)

(27,104)

(24.2)

Other comprehensive income

Item that will not be reclassified to profit

or loss:

Revaluation surplus of property, plant

and equipment

1,270

955

33.0

1,270

955

33.0

Item that are or may be reclassified

subsequently to profit or loss:

Foreign currency translation differences

- foreign operations

224

108

>100.0

432

24

>100.0

Other comprehensive income

for the period/year, net of tax

1,494

1,063

40.5

1,702

979

73.9

Total comprehensive expense for the

period/year

(15,307)

(9,178)

66.8

(18,839)

(26,125)

(27.9)

Attributable to:

(16,037)

(9,170)

74.9

(18,780)

(25,875)

(27.4)

Owners of the Company

Non-controlling interests

730

(8)

N.M.

(59)

(250)

(76.4)

Total comprehensive expense for the

period/year

(15,307)

(9,178)

66.8

(18,839)

(26,125)

(27.9)

Page 4

Condensed Interim Statement of Financial Position

As at 31 March 2024

Group

Company

DESCRIPTION

Note

31-Mar-24

31-Mar-23

31-Mar-24

31-Mar-23

$'000

$'000

$'000

$'000

Non-current assets

Property, plant and equipment

8

115,326

124,723

-

-

Right-of-use assets

9

37,657

41,227

34,215

36,620

Goodwill

552

552

-

-

Investment property

10

162

115

-

-

Investments in:

- subsidiaries

-

-

101,404

97,904

- associates

7,373

8,175

-

-

Contract assets

137

618

-

-

Trade and other receivables

10,557

12,619

9,383

9,222

Deferred tax assets

37

37

480

402

171,801

188,066

145,482

144,148

Current assets

Inventories

11

20,219

24,519

-

-

Contract assets

64,338

66,721

-

-

Trade and other receivables

91,998

79,339

22,563

19,425

Tax recoverable

432

416

-

-

Cash and cash equivalents

18,808

22,804

720

711

195,795

193,799

23,283

20,136

Assets held for sale

4,725

755

-

-

200,520

194,554

23,283

20,136

Total assets

372,321

382,620

168,765

164,284

Page 5

Condensed Interim Statement of Financial Position (Cont'd)

As at 31 March 2024

Group

Company

DESCRIPTION

Note

31-Mar-24

31-Mar-23

31-Mar-24

31-Mar-23

$'000

$'000

$'000

$'000

Equity attributable to owners

of the Company

Share capital

12

94,089

94,089

94,089

94,089

Reserves

(13,862)

4,963

15,021

14,900

80,227

99,052

109,110

108,989

Non-controlling interests

25,079

25,303

-

-

Total equity

105,306

124,355

109,110

108,989

Non-current liabilities

Loans and borrowings

13

14,497

20,302

130

900

Lease liabilities *

9

36,133

39,261

34,838

36,634

Trade and other payables

8,549

10,875

-

-

Provisions

60

60

60

60

Deferred tax liabilities

1,109

1,729

-

-

60,348

72,227

35,028

37,594

Current liabilities

Loans and borrowings

13

82,251

73,362

7,390

755

Lease liabilities *

9

4,082

3,768

1,795

1,687

Contract liabilities

190

480

-

-

Trade and other payables

112,949

103,724

15,442

15,259

Provisions

6,892

4,360

-

-

Current tax payable

303

344

-

-

206,667

186,038

24,627

17,701

Total liabilities

267,015

258,265

59,655

55,295

Total equity and liabilities

372,321

382,620

168,765

164,284

* Relating to Right-of-use assets.

Page 6

Condensed Interim Statements of Changes in Equity

For the 12 Months ended 31 March 2024

Foreign

Total

Reserve

currency

attributable to

Non-

Share

Capital

for own

Reserve on

translation

Revaluation

Other

Accumulated

owners of the

controlling

Total

Group

capital

reserve

shares

consolidation

reserve

reserve

reserve

profits/(losses)

Company

interests

equity

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

At 1 April 2022

94,089

17,798

(2,921)

116

(6,713)

2,249

(2,334)

22,771

125,055

25,703

150,758

Total comprehensive income/(expense) for the year

Loss for the year

-

-

-

-

-

-

-

(26,681)

(26,681)

(423)

(27,104)

Other comprehensive income

Foreign currency translation differences

-

-

-

-

202

9

-

-

211

(187)

24

Revaluation surplus of property, plant and equipment

-

-

-

-

-

595

-

-

595

360

955

Transfer of revaluation surplus of property, plant

and equipment

-

-

-

-

-

(178)

-

178

-

-

-

Total other comprehensive income

-

-

-

-

202

426

-

178

806

173

979

Total comprehensive income/(expense) for the year

-

-

-

-

202

426

-

(26,503)

(25,875)

(250)

(26,125)

Transactions with owners of the Company,

recorded directly in equity

Purchase of treasury shares

-

-

(128)

-

-

-

-

-

(128)

-

(128)

Dividends paid to non-controlling interests

-

-

-

-

-

-

-

-

-

(150)

(150)

Total transactions with owners of the Company

-

-

(128)

-

-

-

-

-

(128)

(150)

(278)

At 31 March 2023

94,089

17,798

(3,049)

116

(6,511)

2,675

(2,334)

(3,732)

99,052

25,303

124,355

Page 7

Condensed Interim Statements of Changes in Equity (Cont'd)

For the 12 Months ended 31 March 2024

Foreign

Total

Reserve

currency

attributable to

Non-

Share

Capital

for own

Reserve on

translation

Revaluation

Other

Accumulated

owners of the

controlling

Total

Group

capital

reserve

shares

consolidation

reserve

reserve

reserve

losses

Company

interests

equity

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

At 1 April 2023

94,089

17,798

(3,049)

116

(6,511)

2,675

(2,334)

(3,732)

99,052

25,303

124,355

Total comprehensive income/(expense) for the year

Loss for the year

-

-

-

-

-

-

-

(20,161)

(20,161)

(380)

(20,541)

Other comprehensive income

Foreign currency translation differences

-

-

-

-

456

8

-

-

464

(32)

432

Revaluation surplus of property, plant and equipment

-

-

-

-

-

917

-

-

917

353

1,270

Transfer of revaluation surplus of property, plant

and equipment

-

-

-

-

-

(340)

-

340

-

-

-

Total other comprehensive income

-

-

-

-

456

585

-

340

1,381

321

1,702

Total comprehensive income/(expense) for the year

-

-

-

-

456

585

-

(19,821)

(18,780)

(59)

(18,839)

Transactions with owners of the Company,

recorded directly in equity

Purchase of treasury shares

-

-

(45)

-

-

-

-

-

(45)

-

(45)

Dividends paid to non-controlling interests

-

-

-

-

-

-

-

-

-

(165)

(165)

Total transactions with owners of the Company

-

-

(45)

-

-

-

-

-

(45)

(165)

(210)

At 31 March 2024

94,089

17,798

(3,094)

116

(6,055)

3,260

(2,334)

(23,553)

80,227

25,079

105,306

Page 8

Condensed Interim Statements of Changes in Equity (Cont'd) For the 12 Months ended 31 March 2024

Company

At 1 April 2022

Total comprehensive expense for the year

Transactions with owners of the Company, recorded directly in equity

Purchase of treasury shares

Total transactions with owners of the Company

At 31 March 2023

At 1 April 2023

Total comprehensive income for the year

Transactions with owners of the Company, recorded directly in equity

Purchase of treasury shares

Total transactions with owners of the Company

At 31 March 2024

Note:

Capital reserve

Capital Reduction Reserve

Reserve

Share

Capital

for own

Accumulated

capital

reserve

shares

profits

Total

$'000

$'000

$'000

$'000

$'000

94,089

17,798

(2,921)

2,044

111,010

-

-

-

(1,893)

(1,893)

-

-

(128)

-

(128)

-

-

(128)

-

(128)

94,089

17,798

(3,049)

151

108,989

94,089

17,798

(3,049)

151

108,989

-

-

-

166

166

-

-

(45)

-

(45)

-

-

(45)

-

(45)

94,089

17,798

(3,094)

317

109,110

Group

Company

$'000

$'000

17,798

17,798

The Capital Reduction Reserve shall not be treated or used by the Company as a distributable reserve for dividend purposes in accordance with Regulation 142 of the Constitution of the Company and the Companies Act 1967 of Singapore.

Page 9

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

CSC Holdings Ltd. published this content on 27 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2024 09:54:05 UTC.