Wheelock Properties Singapore : 1st Quarter Ended 31 March 2017 Financial Statement Announcement

Co. Reg. No. 197201797H (Incorporated in the Republic of Singapore) UNAUDITED RESULTS FOR THE FIRST QUARTER ENDED 31 MARCH 2017 TABLE OF CONTENTS

ITEM NO.	DESCRIPTION	PAGE NO.
1(a)(i) 1(a)(ii) 1(a)(iii) 1(b)(i) 1(c) 1(d)(i) 1(d)(ii) 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16	CONSOLIDATED STATEMENT OF PROFIT OR LOSS CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME NOTES TO THE CONSOLIDATED STATEMENT OF PROFIT OR LOSS STATEMENTS OF FINANCIAL POSITION CONSOLIDATED STATEMENT OF CASH FLOWS STATEMENTS OF CHANGES IN EQUITY SHARE CAPITAL AUDIT OR REVIEW OF RESULTS BY AUDITORS AUDITORS' REPORT BASIS OF PREPARATION EFFECT OF CHANGES IN ACCOUNTING POLICIES AND METHODS EARNINGS PER SHARE NET ASSET VALUE PER SHARE REVIEW OF PERFORMANCE FORECAST STATEMENT CURRENT YEAR'S PROSPECTS DIVIDEND SEGMENTAL INFORMATION COMMENTS ON SEGMENT RESULTS INTERESTED PERSON TRANSACTIONS CONFIRMATION BY THE BOARD CONFIRMATION PURSUANT TO RULE 720(1) OF THE LISTING MANUAL	2 3 4 5 6 8 10 10 10 10 10 11 11 11 12 12 12 12 14 14 14 14

WHEELOCK PROPERTIES (SINGAPORE) LIMITED

(Incorporated in the Republic of Singapore)

1(a)(i) CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Quarter ended
31 Mar 2017	31 Mar 2016	Change
$'000	$'000	%
Revenue Cost of sales	93,735 (77,642)	91,776 (76,250)	2.1 1.8
Gross profit	16,093	15,526	3.7
Other income	1,509	2,067	(27.0)
Selling and marketing expenses	(2,457)	(1,425)	72.4
Administrative and corporate expenses	(3,838)	(3,158)	21.5
Other operating expenses	(447)	(876)	(49.0)
Finance costs	0	(972)	(100.0)
Share of profit of associates, net of tax	1,008	1,541	(34.6)
Profit before taxation	11,868	12,703	(6.6)
Tax expense	(1,813)	(1,560)	16.2
Profit for the period	10,055	11,143	(9.8)

1(a)(ii) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Quarter ended
31 Mar 2017	31 Mar 2016	Change
$'000	$'000	%
Profit for the period Other comprehensive income: Items that may be reclassified subsequently to profit or loss: Available-for-sale financial assets - net change in fair value - transfer to profit or loss on disposal Exchange differences arising on consolidation of foreign subsidiaries Share of other comprehensive income of associates, net of tax Other comprehensive income for the period, net of income tax	10,055	11,143	(9.8)
	28,387	(4,930)	675.8
	0	7	(100.0)
	(7,560)	(11,115)	(32.0)
	(1,982)	(4,148)	(52.2)
	18,845	(20,186)	193.4
Total comprehensive income for the period	28,900	(9,043)	419.6

1(a)(iii) NOTES TO THE CONSOLIDATED STATEMENT OF PROFIT OR LOSS

The following items have been charged or (credited) in arriving at profit for the period:

Quarter ended
31 Mar 2017	31 Mar 2016	Change
$'000	$'000	%
Exchange gain (net) - net change in fair value of forward exchange contracts - others Interest income Others Other income Changes in fair value on investment properties Loss on disposal of investment Others Other operating expenses Depreciation of property, plant and equipment Interest income from investments Over provision of tax in prior years	44 (133)	(1,732) 1,533	102.5 (108.7)
	(89) (821) (599)	(199) (1,382) (486)	(55.3) (40.6) 23.3
	(1,509)	(2,067)	(27.0)
	436 0 11	867 7 2	(49.7) (100.0) 450.0
	447	876	(49.0)
	46 (1,595) (354)	71 (2,813) (198)	(35.2) (43.3) 78.8