Consolidated Income Statement

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Avis Johns
5 years ago
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1 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 work in progress at cost and other inventories (14,515) 16,296 Raw materials and consumables used (138,430) (120,667) Employee benefits expense 6(b) (878,693) (749,453) Sub contractor expenses (233,056) (254,297) Equipment and motor vehicle costs (14,199) (15,581) Information technology and telecommunication costs (8,431) (7,115) Depreciation and amortisation expense 6(b) (10,946) (12,668) Other expenses (39,526) (37,722) Earnings before interest and tax 56,682 42,358 Finance costs 6(b) (12,510) (14,413) Profit before income tax 44,172 27,945 Income tax expense 7 (12,952) (5,669) Profit for the year from continuing operations 31,220 22,276 Discontinued operations Loss from discontinued operations 34 (11,848) Profit attributable to members of Programmed Maintenance Services Limited 26 31,220 10,428 Cents Cents Earnings per share From continuing and discontinued operations: Basic earnings per share Diluted earnings per share From continuing operations: Basic earnings per share Diluted earnings per share Programmed

2 Consolidated Statement of Comprehensive Income Profit for the year 26 31,220 10,428 Other comprehensive income Exchange differences arising on translation of foreign operations 25 3,565 (2,616) Gain on cash flow hedges taken to equity net of tax ,018 Other comprehensive income for the year (net of tax) 3,679 (1,598) Total comprehensive income for the year attributable to owners of the parent entity 34,899 8,830 Annual Report 49

3 Consolidated Statement of Financial Position as at 31 March CURRENT ASSETS Cash and cash equivalents 35(a) 34,668 20,109 Trade and other receivables 8 278, ,947 Other financial assets 9 1,495 5,048 Inventories 10 58,755 60,154 Current tax assets Other 11 5,176 5,419 Total current assets 378, ,409 NON-CURRENT ASSETS Trade and other receivables 13 66,337 67,552 Inventories 14 7,491 13,667 Other financial assets 9 2,291 3,724 Property, plant and equipment 15 24,251 24,414 Deferred tax assets 7 22,364 18,750 Goodwill , ,397 Other intangible assets 17 13,570 12,650 Total non-current assets 378, ,154 TOTAL ASSETS 756, ,563 CURRENT LIABILITIES Trade and other payables , ,309 Borrowings 21 64,351 19,358 Current tax payable 7 18,437 2,827 Provisions 23 40,523 26,988 Total current liabilities 270, ,482 NON-CURRENT LIABILITIES Borrowings 21 58, ,087 Other financial liabilities Deferred tax liabilities 7 47,344 54,897 Provisions 23 7,780 8,480 Total non-current liabilities 113, ,625 TOTAL LIABILITIES 383, ,107 NET ASSETS 373, ,456 EQUITY Issued capital , ,714 Reserves 25 (244) (4,221) Retained earnings , ,963 TOTAL EQUITY 373, , Programmed

4 Consolidated Statement of Changes in Equity Issued capital Foreign currency translation Capital profits Equity settled employee benefits Hedging Retained earnings Total Balance at 1 April ,060 (11,300) 5,535 2,521 (1,132) 120, ,854 Profit for the year 10,428 10,428 Exchange differences arising on translation of foreign operations (note 25) (2,616) (2,616) Gain on cash flow hedges (note 25) 1,018 1,018 Total comprehensive income for the year (2,616) 1,018 10,428 8,830 Income tax related to share issue costs (note 24) (346) (346) Recognition of share-based payments (note 25) (1,405) (1,405) Disposal of subsidiaries (note 25) 3,158 3,158 Payment of dividends (note 28) (10,635) (10,635) Balance at 31 March 235,714 (10,758) 5,535 1,116 (114) 119, ,456 Balance at 1 April 235,714 (10,758) 5,535 1,116 (114) 119, ,456 Profit for the year 31,220 31,220 Exchange differences arising on translation of foreign operations (note 25) 3,565 3,565 Gain on cash flow hedges (note 25) Total comprehensive income for the year 3, ,220 34,899 Income tax related to share issue costs (note 24) (165) (165) Recognition of share-based payments (note 25) Payment of dividends (note 28) (12,998) (12,998) Balance at 31 March 235,549 (7,193) 5,535 1, , ,490 Annual Report 51

5 Consolidated Statement of Cash Flows Cash Flows from Operating Activities Receipts from customers 1 1,532,756 1,346,497 Payments to suppliers and employees (1,460,116) (1,317,426) Interest and other cost of finance paid (14,864) (14,853) Income tax paid (9,476) (8,942) Net cash provided by operating activities 35(d) 48,300 5,276 Cash flows from investing activities Interest received Payments for property, plant and equipment (6,881) (5,268) Proceeds from sale of property, plant and equipment 1,717 2,405 Payments for development software (618) (1,136) Payments for mobilisation of contracts (1,381) (891) Cash received/(payments) for business acquisitions 33 2,076 (103) Proceeds from sale of businesses 32,34 3,171 3,130 Disposal of subsidiaries 32,34 (648) Net cash used in investing activities (1,548) (1,763) Cash flows from financing activities Proceeds from borrowings 30,000 52,000 Repayments of borrowings (49,429) (71,088) Dividends paid 28 (12,998) (10,635) Net cash used in financing activities (32,427) (29,723) Net increase/(decrease) in cash and cash equivalents 14,325 (26,210) Cash and cash equivalents at the beginning of the year 20,109 46,527 Effects of exchange rate changes on the balance of cash held in foreign currencies 234 (208) Cash and cash equivalents at the end of the year 35(a) 34,668 20, Receipts from customers include interest revenue on long term maintenance contracts of $8,585 thousand (: $7,332 thousand). 52 Programmed

Income Statement. for the financial year ended 31 March 2011

Income Statement. for the financial year ended 31 March 2011 Income Statement for the financial year ended 31 March Continuing operations Revenue 5 1,220,183 1,141,964 Other income 6 3,776 2,350 Share of net loss of associate accounted for using the equity method