DUTCH LADY MILK INDUSTRIES BERHAD (5063-V)
(Incorporated in Malaysia)
CONDENSED STATEMENT OF COMPREHENSIVE INCOME
For the financial quarter ended 30 June 2023
INDIVIDUAL QUARTER | CUMULATIVE QUARTER | ||||||
CURRENT | COMPARATIVE | 6 months | 6 months | ||||
QUARTER | QUARTER | TO DATE | TO DATE | ||||
30/06/23 | 30/06/22 | 30/06/23 | 30/06/22 | ||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||
RM'000 | RM'000 | RM'000 | RM'000 | ||||
Revenue | 351,193 | 340,090 | 705,507 | 639,955 | |||
Cost of Sales | (243,918) | (242,347) | (510,876) | (440,366) | |||
Gross Profit | 107,275 | 97,743 | 194,631 | 199,589 | |||
- | |||||||
Other Income | 2,702 | 3,476 | 301 | 2,444 | |||
- | |||||||
Distribution Expenses | (44,810) | (40,197) | (89,837) | (82,017) | |||
- | |||||||
Administrative Expenses | (8,635) | (9,057) | (18,009) | (16,923) | |||
- | |||||||
Other Operating Expenses | (22,615) | (23,002) | (40,377) | (46,297) | |||
Results from Operating Activities | 33,917 | 28,963 | 46,709 | 56,796 | |||
Interest Income | 211 | 408 | 478 | 837 | |||
Finance Costs | (1,151) | (848) | (2,225) | (1,684) | |||
Profit Before Taxation | 32,977 | 28,523 | 44,962 | 55,949 | |||
Income Tax Expenses | (8,724) | (6,992) | (12,191) | (13,849) | |||
Profit After Taxation | 24,253 | 21,531 | 32,771 | 42,100 | |||
Other Comprehensive Income | - | - | - | - | |||
Changes in fair value of | |||||||
cash flow hedge | |||||||
Deferred tax on fair value of | |||||||
cash flow hedge | |||||||
Profit for the period/Total comprehensive | |||||||
income for the period | 24,253 | 21,531 | 32,771 | 42,100 | |||
Profit Attributable to: | |||||||
Equity holders of the Company | 24,253 | 21,531 | 32,771 | 42,100 | |||
Non-controlling interest | - | - | - | - | |||
24,253 | 21,531 | 32,771 | 42,100 | ||||
EARNINGS PER SHARE | |||||||
- Basic earnings per share (sen) | 37.90 | 33.60 | 51.20 | 65.80 | |||
(Based on 64,000,000 ordinary shares) | |||||||
(The Condensed Statement of Comprehensive Income should be read in conjunction with the Audited Financial Statements for the year ended 31 December 2022)
Page 1
DUTCH LADY MILK INDUSTRIES BERHAD (5063-V)
(Incorporated in Malaysia)
CONDENSED STATEMENT OF FINANCIAL POSITION
For the financial quarter ended 30 June 2023
ASSETS
Property, plant and equipment
Right-of-use assets
Intangible assets
TOTAL NON-CURRENT ASSETS
Inventories
Trade and other receivables
Prepayments
Current tax receivable
Cash and cash equivalents
Derivatives financial assets
Deferred tax assets
CURRENT ASSETS
Assets classified as held for sale
TOTAL CURRENT ASSETS TOTAL ASSETS
AS AT
30/06/23
RM'000
(Unaudited)
397,204
11,242
29,760
438,206
224,005
126,047
2,725
4,311
60,681
4,777
422,546
-
422,546
860,752
AS AT
31/12/22
RM'000
(Audited)
344,202
3,046
13,181
360,429
228,882
97,708
45,887
6,327
104,941
-
483,745
-
483,745
844,174
EQUITY | |
Share capital | |
64,000 | |
Retained profits | 349,623 |
Attributable to equity holders of the Company | |
413,623 | |
Non-controlling interest | - |
TOTAL EQUITY | |
413,623 | |
LIABILITIES | |
Lease Liabilities | |
6,735 | |
Deferred tax liabilities | 1,917 |
Provision | 11,075 |
TOTAL NON-CURRENT LIABILITIES | |
19,727 | |
Trade and other payables | |
418,044 | |
Provision | 707 |
Current tax liabilities | - |
Bank overdraft | - |
Lease Liabilities | 8,389 |
Derivatives financial liabilities | 262 |
CURRENT LIABILITIES | |
427,402 | |
TOTAL LIABILITIES | 447,129 |
TOTAL EQUITY AND LIABILITIES | 860,752 |
Net assets per share attributable to ordinary | 6.46 |
equity holders of the Company (RM) |
64,000
332,851
396,851
-
396,851
2,093
2,322
9,201
13,616
413,688
8,710
-
-
6,498
4,811
433,707
447,323
844,174
6.20
(The Condensed Statement of Financial Position should be read in conjunction with the Audited Financial Statements for the year ended 31 December 2022)
Page 2
DUTCH LADY MILK INDUSTRIES BERHAD (5063-V)
(Incorporated in Malaysia)
CONDENSED STATEMENT OF CHANGES IN EQUITY
For the financial quarter ended 30 June 2023
(The figures have not been audited)
Attributable | |||||||||
Distributable | to equity | Non- | |||||||
Share | Retained | holders of | Controlling | ||||||
Capital | profits | the Company | Interest | Total | |||||
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | |||||
6 months | |||||||||
ended 30 June 2023 | |||||||||
Balance at | |||||||||
beginning of period | 64,000 | 332,851 | 396,851 | - | 396,851 | ||||
Movements | |||||||||
during the period | - | 32,771 | 32,771 | - | 32,771 | ||||
Dividend payable | - | - | - | - | - | ||||
Dividends paid | - | (16,000) | (16,000) | - | (16,000) | ||||
Balance at | |||||||||
end of period | 64,000 | 349,622 | 413,622 | - | 413,622 | ||||
FALSE | |||||||||
6 months | |||||||||
ended 30 June 2022 | |||||||||
Balance at | |||||||||
beginning of period | 64,000 | 318,580 | 382,580 | - | 382,580 | ||||
Movements | |||||||||
during the period | - | 20,569 | 20,569 | - | 20,569 | ||||
Dividend payable | - | - | - | - | - | ||||
Dividends paid | - | - | - | - | - | ||||
Balance at | |||||||||
end of period | 64,000 | 339,149 | 403,149 | - | 403,149 | ||||
(The Condensed Statement of Changes in Equity should be read in conjunction with the Audited Financial Statements for the year ended 31 December 2022)
Page 3
DUTCH LADY MILK INDUSTRIES BERHAD (5063-V)
(Incorporated in Malaysia)
CONDENSED STATEMENT OF CASH FLOW
For the financial quarter ended 30 June 2023
6 months | 6 months | ||
TO DATE | TO DATE | ||
30/06/23 | 30/06/22 | ||
(Unaudited) | (Audited) | ||
RM'000 | RM'000 | ||
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Cash receipts from customers and other receivables | 672,394 | 610,129 | |
Cash paid to suppliers and employees | (600,345) | (528,723) | |
Cash generated from operations | 72,049 | 81,406 | |
Income tax paid | (10,581) | (11,486) | |
Net cash generated from/(used in) operating activities | 61,468 | 69,920 | |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Additions of property, plant and equipment | (67,234) | (88,153) | |
Additions of intangible assets | (16,724) | (2,092) | |
Proceeds from disposal of property, plant and equipment | - | 0 | |
Proceeds from disposal of asset classified as held for sale | - | 0 | |
Interest received | 478 | 837 | |
Net cash (used in)/generated from investing activities | (83,480) | (89,408) | |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Interest paid | (1,971) | (1,549) | |
Dividends paid | (16,000) | (16,000) | |
Payment of principal portion of lease liabilities | (4,277) | (4,456) | |
Net cash used in financing activities | (22,248) | (22,005) | |
Net increase/(decrease) in cash and cash equivalents | (44,260) | (41,493) | |
Cash and cash equivalents brought forward | 104,941 | 118,300 | |
Cash and cash equivalents carried forward | 60,681 | 76,807 | |
Cash and cash equivalents consist of: | |||
Cash and bank balances | 60,681 | 76,807 | |
Bank overdraft | 2,309 | 0 | |
Deposits placed with licensed banks | - | - | |
62,990 | 76,807 | ||
(The Condensed Statement of Cash Flows should be read in conjunction with the Audited Financial Statements for the year ended 31 December 2022)
Page 4
DUTCH LADY MILK INDUSTRIES BERHAD (5063-V)
(Incorporated in Malaysia)
NOTES
-
Basis of Preparation
The interim financial report is unaudited and has been prepared in accordance with the applicable disclosure provisions of the Listing Requirements of the Bursa Malaysia
Securities Berhad and MFRS 134, 'Interim Financial Reporting' in Malaysia and with IAS 34 'Interim Financial Reporting'. They do not include all of the information required for full annual financial statements and should be read in conjunction with the most recent audited financial statements of the Company as at and for the year ended 31 December 2022.
The accounting policies and methods of computation are consistent with those adopted in the most recent audited financial statements for the year ended 31 December 2022. - Auditors' Report of Preceding Annual Financial Statements
The auditors' report of the Company in respect of the annual audited financial statements for the year ended 31 December 2022 was not subject to any audit qualification. - Seasonal and Cyclical Factors
The dairy and dairy related business can be influenced by the weather and major festivals. - Unusual Items affecting Assets, Liabilities, Equity, Net Income or Cash Flows
There were no unusual items affecting assets, liabilities, equity, net income or cash flows during the financial period under review. - Changes in Estimates
Pursuant to the Company's announced investment in our future manufacturing activities,
DLMI has identified assets in its Petaling Jaya factory that will not be transitioned to the new site. In light of this, DLMI has implemented accelerated depreciation for the mentioned assets at the start of 2021 financial year, continuing into 2022 and 2023.
Other than the aforementioned, there were no other changes in estimates of amounts reported in the current quarter or changes in estimates of amounts reported in prior financial years that have a material effect in the current quarter. - Changes in Debt and Equity
There were no issuances and repayment of debt and equity securities, share buy-backs, share cancellations, shares held as treasury shares and resale of treasury shares for the financial period under review.
Notes to the Financial Statements - Pg. 5
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Dutch Lady Milk Industries Bhd published this content on 24 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 August 2023 11:24:06 UTC.