GuocoLand : Announcement of results for the 3rd quarter ended 31 March 2024 by GuocoLand Limited’s subsidiary, GuocoLand (Malaysia) Berhad

Quarterly rpt on consolidated results for the financial period ended 31 Mar 2024

GUOCOLAND (MALAYSIA) BERHAD

Financial Year End	30 Jun 2024
Quarter	3 Qtr
Quarterly report for the financial	31 Mar 2024
period ended
The figures	have not been audited

Attachments

Q3 2024 Results.pdf

261.0 kB

Default Currency Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION

31 Mar 2024

		INDIVIDUAL PERIOD	CUMULATIVE PERIOD
		CURRENT	PRECEDING YEAR	CURRENT	PRECEDING
		YEAR	CORRESPONDING	YEAR TO DATE	YEAR
		QUARTER	QUARTER		CORRESPONDING
					PERIOD
		31 Mar 2024	31 Mar 2023	31 Mar 2024	31 Mar 2023
		$$'000	$$'000	$$'000	$$'000
1	Revenue	88,967	112,363	327,732	296,065
2	Profit/(loss) before	3,125	12,065	19,981	28,541
	tax
3	Profit/(loss) for the	3,185	8,893	13,987	19,813
	period
4	Profit/(loss)	2,935	8,709	13,016	18,811
	attributable to
	ordinary equity
	holders of the
	parent
5	Basic	0.44	1.30	1.94	2.81
	earnings/(loss) per
	share (Subunit)
6	Proposed/Declared	0.00	0.00	0.00	0.00
	dividend per share
	(Subunit)
		AS AT END OF CURRENT	AS AT PRECEDING FINANCIAL
		QUARTER	YEAR END
7	Net assets per		1.9966		1.9971
	share attributable
	to ordinary equity
	holders of the
	parent ($$)

Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit. Example for the subunit as follows:

Country	Base Unit	Subunit
Malaysia	Ringgit	Sen
United States	Dollar	Cent
United Kingdom	Pound	Pence

Announcement Info

Company Name	GUOCOLAND (MALAYSIA) BERHAD
Stock Name	GUOCO
Date Announced	13 May 2024
Category	Financial Results
Reference Number	FRA-13052024-00008

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE THIRD QUARTER ENDED 31 MARCH 2024

The figures have not been audited

CONDENSED CONSOLIDATED INCOME STATEMENT

FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2024

	3 months ended		Period-to-date ended
	31.03.2024	31.03.2023	31.03.2024	31.03.2023
	RM'000	RM'000		RM'000	RM'000
Revenue	88,967	112,363	327,732	296,065
Cost of sales	(67,645)	(80,869)	(253,165)	(210,026)
Gross profit	21,322	31,494		74,567	86,039
Selling and marketing expenses	(1,459)	(1,961)	(4,701)	(5,541)
Administrative expenses	(13,415)	(15,873)	(43,841)	(44,867)
Other net operating income	1,259	978	3,042	2,158
Profit from operations	7,707	14,638		29,067	37,789
Finance income	745	577	2,728	1,557
Finance costs	(6,448)	(6,722)	(19,303)	(20,667)
Share of results of associates and joint ventures	1,121	3,572	7,489	9,862
Profit before tax	3,125	12,065		19,981	28,541
Taxation	60	(3,172)		(5,994)	(8,728)
Profit for the period	3,185	8,893	13,987	19,813
Profit attributable to:
Owners of the parent	2,935	8,709	13,016	18,811
Non-controlling interests	250	184		971	1,002
Profit for the period	3,185	8,893	13,987	19,813
Profit per share attributable to owners of the parent:
a) Basic (sen)	0.438	1.300	1.943	2.808
b) Diluted (sen)	0.438	1.300	1.943	2.808

The condensed consolidated income statement should be read in conjunction with the audited financial statements for the financial year ended 30 June 2023 and the accompanying explanatory notes attached to the interim financial statements.

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GUOCOLAND (MALAYSIA) BERHAD (192001000022 (300-K))

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE THIRD QUARTER ENDED 31 MARCH 2024

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2024

	3 months ended		Period-to-date ended
	31.03.2024	31.03.2023	31.03.2024	31.03.2023
	RM'000	RM'000		RM'000	RM'000
Profit for the period, representing total
comprehensive income for the period	3,185	8,893	13,987	19,813
Total comprehensive profit attributable to:
Owners of the parent	2,935	8,709	13,016	18,811
Non-controlling interests	250	184		971	1,002
Total comprehensive income for the period	3,185	8,893		13,987	19,813

The condensed consolidated statement of comprehensive income should be read in conjunction with the audited financial statements for the financial year ended 30 June 2023 and the accompanying explanatory notes attached to the interim financial statements.

GLM/2

GUOCOLAND (MALAYSIA) BERHAD (192001000022 (300-K))

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE THIRD QUARTER ENDED 31 MARCH 2024

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024

	Unaudited		Audited
	As at		As at
	31.03.2024	30.06.2023
	RM'000		RM'000
Non-current assets
Property, plant and equipment	294,495	301,239
Right-of-use assets	14,347	15,969
Investment properties	281,663	281,663
Inventories	148,914	103,493
Investments in associates	189,496	189,847
Investments in joint ventures	143,064	135,478
Other non-current assets	3,083	3,333
Goodwill	2,980	3,898
Deferred tax assets	15,508		15,012
	1,093,550	1,049,932
Current assets
Inventories	680,356	768,441
Biological assets	224	269
Trade and other receivables	76,445	82,911
Contract assets	121,834	124,375
Contract cost assets	44,231	45,482
Other current assets	3,109	3,318
Tax recoverable	1,693	1,728
Cash and cash equivalents	109,895		169,207
	1,037,787		1,195,731
TOTAL ASSETS	2,131,337		2,245,663

GLM/3

GUOCOLAND (MALAYSIA) BERHAD (192001000022 (300-K))

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE THIRD QUARTER ENDED 31 MARCH 2024

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 (cont'd)

	Unaudited		Audited
	As at		As at
	31.03.2024	30.06.2023
	RM'000		RM'000
EQUITY AND LIABILITIES
Equity attributable to owners of the parent
Share capital	385,318	385,318
Reserves	976,019		976,401
Equity funds	1,361,337	1,361,719
Shares held by ESS Trust	(23,883)		(23,883)
	1,337,454	1,337,836
Non-controlling interests	71,068		76,250
TOTAL EQUITY	1,408,522	1,414,086
Non-current liabilities
Trade and other payables	1,443	1,505
Loans and borrowings	322,184	343,835
Lease liabilities	13,483	14,610
Deferred tax liabilities	14,067		14,960
	351,177	374,910
Current liabilities
Trade and other payables	203,633	181,098
Contract liabilities	15,001	12,490
Loans and borrowings	150,048	258,422
Lease liabilities	1,645	1,977
Tax payable	1,311		2,680
	371,638		456,667
TOTAL LIABILITIES	722,815		831,577
TOTAL EQUITY AND LIABILITIES	2,131,337	2,245,663
Net assets per share attributable to ordinary owners of the
parent (RM)	1.9966	1.9971

The condensed consolidated statement of financial position should be read in conjunction with the audited financial statements for the financial year ended 30 June 2023 and the accompanying explanatory notes attached to the interim financial statements.

GLM/4

GUOCOLAND (MALAYSIA) BERHAD (192001000022 (300-K))

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE THIRD QUARTER ENDED 31 MARCH 2024

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2024

		Attributable to owners of the parent
		Non-Distributable		Distributable
	Shares held						Non-
Share	by ESS	Merger	Exchange	Other	Retained		controlling	Total
capital	Trust	reserve	reserve	reserve	profits	Total	interests	equity
RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000

Current period-to-date
At 1 July 2023	385,318	(23,883)	(24,028)	106	27	1,000,296	1,337,836	76,250	1,414,086
Total comprehensive income for the period	-	-	-	-	-	13,016	13,016	971	13,987
Dividend paid	-	-	-	-	-	(13,398)	(13,398)	(6,153)	(19,551)
As At 31 March 2024	385,318	(23,883)	(24,028)	106	27	999,914	1,337,454	71,068	1,408,522

GLM/5

GUOCOLAND (MALAYSIA) BERHAD (192001000022 (300-K))

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE THIRD QUARTER ENDED 31 MARCH 2024

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2024 (cont'd)

		Attributable to owners of the parent
		Non-Distributable		Distributable
	Shares held						Non-
Share	by ESS	Merger	Exchange	Other	Retained		controlling	Total
capital	Trust	reserve	reserve	reserve	profits	Total	interests	equity
RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000

Preceding year corresponding period
At 1 July 2022	385,318	(23,883)	(24,028)	106	27	979,088	1,316,628	75,021	1,391,649
Total comprehensive income for the period	-	-	-	-	-	18,811	18,811	1,002	19,813
Redemption of redeemable preference shares ("RPS")
in a subsidiary	-	-	-	-	-	-	-	(3,040)	(3,040)
Dividend paid	-	-	-	-	-	(13,398)	(13,398)	-	(13,398)
As At 31 March 2023	385,318	(23,883)	(24,028)	106	27	984,501	1,322,041	72,983	1,395,024

The condensed consolidated statement of changes in equity should be read in conjunction with the audited financial statements for the financial year ended 30 June 2023 and the accompanying explanatory notes attached to the interim financial statements.

GLM/6

GUOCOLAND (MALAYSIA) BERHAD (192001000022 (300-K))

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE THIRD QUARTER ENDED 31 MARCH 2024

The figures have not been audited

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2024

	Period-to-date ended
	31.03.2024	31.03.2023
	RM'000		RM'000
Cash flows from operating activities
Profit before tax	19,981	28,541
Adjustments for:
(Reversal)/Allowance for impairment on trade
and other receivables	(131)	229
Depreciation of property, plant and equipment	7,093	7,947
Depreciation of right-of-use assets	1,677	1,547
Gain on disposal of property, plant and equipment	-	(2)
Interest expense	19,303	20,667
Interest income	(2,728)	(1,557)
Loss on fair value of biological assets	45	328
Realisation of goodwill	918	115
Share of results of associates and joint ventures	(7,489)	(9,862)
Unrealised profit arising from transactions with
joint ventures and associates	(122)		(858)
Operating profit before working capital changes	38,547	47,095
Working capital changes:
Inventories	42,664	(3,191)
Trade and other receivables	7,887	(11,574)
Contract assets	2,541	148,081
Contract cost assets	1,251	10,456
Trade and other payables	22,529	1,635
Contract liabilities	2,511	(42)
Associates and joint ventures balances	(188)	668
Related company balances	(627)		(4,167)
Cash flow generated from operations	117,115	188,961
Interest received	199	68
Interest paid	(18,720)	(20,381)
Interest paid on lease liabilities	(583)	(286)
Tax paid	(8,661)		(12,699)
Net cash flows generated from operating activities	89,350		155,663

GLM/7