Consolidated Statement of Profit or Loss

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Kory Hall
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1 64 PROGRAMMED ANNUAL REPORT Consolidated Statement of Profit or Loss for the financial year ended 31 March Continuing operations Revenue 5 1,434,224 1,434,923 Other income 6(a) 1,027 1,720 Share of net loss of associate accounted for using the equity method 12 (629) (679) Incentive payment in relation to the acquisition of the Turnpoint Group (1,421) Changes in work in progress at cost and other inventories (269) 9,697 Raw materials and consumables used (106,710) (130,927) Employee benefits expense 6(b) (853,062) (892,896) Sub-contractor expenses (367,569) (306,439) Equipment and motor vehicle costs (17,650) (18,031) Information technology and telecommunication costs (7,197) (6,916) Depreciation and amortisation expense 6(b) (11,250) (11,229) Finance costs 6(b) (5,447) (7,415) Other expenses (25,269) (28,136) Profit before income tax 38,778 43,672 Income tax expense 7 (13,083) (13,220) Profit for the year attributable to members of Programmed Maintenance Services Limited 25 25,695 30,452 Cents Cents Earnings per share From continuing operations: Basic earnings per share Diluted earnings per share

2 PROGRAMMED ANNUAL REPORT 65 Consolidated Statement of Profit or Loss and Other Comprehensive Income for the financial year ended 31 March Profit for the year 25 25,695 30,452 Other comprehensive income Items that may be classified subsequently to profit or loss Exchange differences arising on translation of foreign operations 24 1,987 6,431 Other comprehensive income for the year (net of tax) 1,987 6,431 Total comprehensive income for the year attributable to owners of the parent entity 27,682 36,883

3 66 PROGRAMMED ANNUAL REPORT Consolidated Statement of Financial Position as at 31 March CURRENT ASSETS Cash and cash equivalents 33(a) 42,768 29,477 Trade and other receivables 8 236, ,501 Other financial assets 9 1,576 Inventories 10 70,409 61,339 Current tax assets ,573 Other 11 4,433 7,272 Total current assets 353, ,738 NON-CURRENT ASSETS Investments in associates 12 3,844 4,469 Trade and other receivables 13 57,560 57,083 Inventories 14 12,207 11,640 Property, plant and equipment 15 24,362 26,412 Deferred tax assets 7 17,833 17,459 Goodwill , ,071 Other intangible assets 17 16,529 14,134 Total non-current assets 378, ,268 TOTAL ASSETS 732, ,006 CURRENT LIABILITIES Trade and other payables , ,400 Borrowings 21 46,618 53,179 Current tax payable ,072 Provisions 22 36,433 37,825 Total current liabilities 257, ,476 NON-CURRENT LIABILITIES Borrowings 21 3,230 18,529 Deferred tax liabilities 7 47,103 45,569 Provisions 22 6,287 5,053 Total non-current liabilities 56,620 69,151 TOTAL LIABILITIES 314, ,627 NET ASSETS 418, ,379 EQUITY Issued capital , ,060 Reserves 24 10,876 7,820 Retained earnings , ,499 TOTAL EQUITY 418, ,379

4 PROGRAMMED ANNUAL REPORT 67 Consolidated Statement of Changes in Equity for the financial year ended 31 March Issued capital Foreign currency translation Capital profits Equity settled employee benefits Retained earnings Total Balance at 1 April ,060 (6,706) 5,535 1, , ,651 Profit for the year 30,452 30,452 Exchange differences arising on translation of foreign operations (note 24) 6,431 6,431 Total comprehensive income for the year 6,431 30,452 36,883 Recognition of share based payments (note 24) Payment of dividends (note 27) (18,912) (18,912) Balance at 31 March 236,060 (275) 5,535 2, , ,379 Balance at 1 April 236,060 (275) 5,535 2, , ,379 Profit for the year 25,695 25,695 Exchange differences arising on translation of foreign operations (note 24) 1,987 1,987 Total comprehensive income for the year 1,987 25,695 27,682 Recognition of share based payments (note 24) 1,069 1,069 Issues of shares (note 23) Payment of dividends (note 27) (20,720) (20,720) Balance at 31 March 236,086 1,712 5,535 3, , ,436

5 68 PROGRAMMED ANNUAL REPORT Consolidated Statement of Cash Flows for the financial year ended 31 March Cash flows from operating activities Receipts from customers 1 1,565,273 1,617,289 Payments to suppliers and employees (1,484,308) (1,536,702) Interest and other cost of finance paid (5,144) (7,764) Income tax paid (10,093) (17,010) Net cash provided by operating activities 32(d) 65,728 55,813 Cash flows from investing activities Interest received Payments for brands (136) Payments for property, plant and equipment (6,506) (6,024) Proceeds from sale of property, plant and equipment 1,621 2,274 Payments for development software (2,519) (346) Payments for mobilisation of contracts (1,446) (613) Payments for investments (5,148) Net cash used in investing activities (8,468) (9,625) Cash flows from financing activities Proceeds from issue of shares 26 Proceeds from borrowings 75,000 85,000 Repayments of borrowings (98,484) (121,713) Dividends paid 27 (20,720) (18,912) Net cash used in financing activities (44,178) (55,625) Net increase/(decrease) in cash and cash equivalents 13,082 (9,437) Cash and cash equivalents at the beginning of the year 29,477 38,334 Effects of exchange rate changes on the balance of cash held in foreign currencies Cash and cash equivalents at the end of the year 32(a) 42,768 29, Receipts from customers include interest revenue on long term maintenance contracts of $6.498 million (: $6.752 million).

Consolidated Income Statement

Consolidated Income Statement Continuing operations Revenue 5 1,393,639 1,220,183 Other income 6(a) 841 3,776 Share of net loss of associate accounted for using the equity method 12 (2) (394) Changes in