Multi-Chem Limited
(Incorporated in Singapore. Registration Number: 198500318Z)
Full Year Financial Statements and Dividend Announcement
For the financial year ended 31 December 2020
Multi-Chem Limited
Registration No. 198500318Z
Full Year Financial Statements and Dividend Announcement
For the financial year ended 31 December 2020
CONSOLIDATED INCOME STATEMENT
Group | 6 months ended | 12 months ended | |||||
31-12-2020 | 31-12-2019 | Change | 31-12-2020 | 31-12-2019 | Change | ||
$'000 | $'000 | % | $'000 | $'000 | % | ||
Revenue | 253,667 | 256,858 | (1) | 479,714 | 455,795 | 5 | |
Cost of sales | (215,417) | (221,377) | (3) | (408,072) | (389,888) | 5 | |
Gross profit | 38,250 | 35,481 | 8 | 71,642 | 65,907 | 9 | |
Other items of income | |||||||
- Interest income | 515 | 349 | 48 | 884 | 613 | 44 | |
- Other income | 3,799 | (138) | (2,853) | 6,269 | 2,844 | 120 | |
Other items of expense | |||||||
- Selling and distribution costs | (13,990) | (13,993) | - | (27,908) | (28,088) | (1) | |
- Administrative and other expenses | (11,444) | (10,816) | 6 | (22,703) | (23,397) | (3) | |
- Loss allowance on third party | |||||||
trade receivables | (2,051) | (2,821) | (27) | (1,972) | (2,396) | (18) | |
- Finance costs | (199) | (532) | (63) | (388) | (923) | (58) | |
Profit before income tax | 14,880 | 7,530 | 98 | 25,824 | 14,560 | 77 | |
Income tax expense | (3,674) | (2,606) | 41 | (6,256) | (4,808) | 30 | |
Profit for the financial | |||||||
period/year | 11,206 | 4,924 | 128 | 19,568 | 9,752 | 101 | |
Profit attributable to: | |||||||
Owners of the parent | 10,456 | 3,852 | 171 | 17,776 | 7,836 | 127 | |
Non-controlling interests | 750 | 1,072 | (30) | 1,792 | 1,916 | (6) | |
11,206 | 4,924 | 128 | 19,568 | 9,752 | 101 | ||
Earnings per share for profit attributable | |||||||
to owners of the parent during the | |||||||
financial period/year | |||||||
(expressed in cents per share) | |||||||
Basic | 11.61 cents | 4.28 cents | 19.73 cents | 8.70 cents | |||
Diluted | 11.61 cents | 4.28 cents | 19.73 cents | 8.70 cents |
Multi-Chem Limited, Page 2 of 28
Multi-Chem Limited
Registration No. 198500318Z
Full Year Financial Statements and Dividend Announcement
For the financial year ended 31 December 2020
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||||||
Group | 6 months ended | 12 months ended | |||||
31-12-2020 | 31-12-2019 | Change | 31-12-2020 | 31-12-2019 | Change | ||
$'000 | $'000 | % | $'000 | $'000 | % | ||
Profit for the financial period/year | 11,206 | 4,924 | 128 | 19,568 | 9,752 | 101 | |
Other comprehensive income for the | |||||||
financial period/year | |||||||
Items that may be reclassified subsequently to | |||||||
profit or loss | |||||||
Foreign currency differences | |||||||
on translation of foreign operations | (3,688) | (520) | 609 | (1,224) | (1,101) | 11 | |
Fair value change in financial asset, at FVOCI | 194 | - | 100 | 77 | - | 100 | |
(3,494) | (520) | 572 | (1,147) | (1,101) | 4 | ||
Items that will not be reclassified subsequently to | |||||||
profit or loss | |||||||
Remeasurements of post-employee benefits | (45) | (37) | 22 | (45) | (37) | 22 | |
Other comprehensive income for the | |||||||
financial period/year, net of tax | (3,539) | (557) | 535 | (1,192) | (1,138) | 5 | |
Total comprehensive income for the | |||||||
financial period/year | 7,667 | 4,367 | 76 | 18,376 | 8,614 | 113 | |
- | |||||||
Total comprehensive income attributable to: | |||||||
Owners of the parent | 7,594 | 3,370 | 125 | 16,857 | 6,851 | 146 | |
Non-controlling interests | 73 | 997 | (93) | 1,519 | 1,763 | (14) | |
7,667 | 4,367 | 76 | 18,376 | 8,614 | 113 |
Multi-Chem Limited, Page 3 of 28
Multi-Chem Limited
Registration No. 198500318Z
Full Year Financial Statements and Dividend Announcement
For the financial year ended 31 December 2020
NOTES TO CONSOLIDATED INCOME STATEMENT
The profit before income tax is arrived at after (charging)/crediting:
Group | 6 months ended | 12 months ended | ||||
31-12-202031-12-2019 | Change | 31-12-202031-12-2019 | Change | |||
$'000 | $'000 | % | $'000 | $'000 | % | |
Other gains | 1,819 | 291 | 525 | 4,021 | 1,091 | 269 |
Interest income | 515 | 349 | 48 | 884 | 613 | 44 |
Interest expense | (199) | (532) | (63) | (388) | (923) | (58) |
Amortisation of club memberships | (5) | (7) | (29) | (10) | (19) | (47) |
Depreciation of property, plant and equipment | (681) | (646) | 5 | (1,424) | (1,621) | (12) |
Depreciation of right-of-use assets | (675) | (645) | 5 | (1,342) | (1,137) | 18 |
Loss allowance on third party trade receivables | (2,051) | (2,821) | (27) | (1,972) | (2,396) | (18) |
Third party trade receivables written off | (183) | (23) | 696 | (196) | (29) | 576 |
Allowance made for inventory obsolescence | (2,079) | (1,531) | 36 | (3,441) | (2,187) | 57 |
Inventories written off | (23) | (23) | - | (75) | (51) | 47 |
Foreign exchange gain/(loss), net | 1,898 | (490) | 487 | 2,047 | 80 | 2,459 |
Loss on disposal of club membership | - | (56) | (100) | - | (56) | (100) |
Gain/(loss) on disposal of plant and equipment | 7 | (17) | 141 | 65 | 1,077 | (94) |
Plant and equipment written off | - | (6) | (100) | - | (17) | (100) |
Reversal of impairment loss of plant and equipment | - | - | - | - | 460 | (100) |
Fair value change in financial asset, at FVPL | 75 | 76 | (1) | 136 | 134 | 1 |
Fair value change in derivative financial instruments | 25 | 2 | 1,150 | (7) | 2 | (450) |
Multi-Chem Limited, Page 4 of 28
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Multi-Chem Limited published this content on 08 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 February 2021 09:42:03 UTC.