Group Figures

• Profit Statement (FY2022 - FY2023)

  Profit Statement Year ended 30 Sep ($'000)	FY2023	FY2022
  REVENUE	2,099,103	2,003,214
  Cost of sales	(1,476,058)	(1,429,370)
  Gross profit	623,045	573,844
  TRADING PROFIT	151,910	128,777
  Share of results of joint venture companies	6,494	4,465
  Share of results of associated companies	89,871	99,875
  Gross income from investments	233	298
  PROFIT BEFORE INTEREST AND TAXATION ("PBIT")	248,508	233,415
  Net finance cost	(31,114)	(23,783)
  PROFIT BEFORE FAIR VALUE ADJUSTMENT, TAXATION AND EXCEPTIONAL ITEMS	217,394	209,632
  Fair value adjustment of investment properties	(403)	(35)
  PROFIT BEFORE TAXATION AND EXCEPTIONAL ITEMS	217,394	209,597
  Exceptional items	6,852	(7,408)
  PROFIT BEFORE TAXATION	223,843	202,189
  Taxation	(18,702)	(25,254)
  PROFIT AFTER TAXATION	205,141	176,935
  ATTRIBUTABLE PROFIT TO:
  Shareholders of the Company
  - Before fair value adjustment and exceptional items	133,251	129,421
  - Fair value adjustment of investment properties	537	(35)
  - Exceptional items	(572)	(4,519)
  	133,216	124,867
  Non-controlling interests	71,925	52,068
  	205,141	176,935

  
  

• Balance Sheet (FY2022 - FY2023)

  Balance Sheet Year ended 30 Sep ($'000)	FY2023	FY2022
  SHARE CAPITAL AND RESERVES
  Share capital	863,802	861,456
  Reserves	2,083,519	2,208,081
  	2,947,321	3,069,537
  NON-CONTROLLING INTERESTS	455,286	432,948
  	3,402,607	3,502,485
  Represented by:
  NON-CURRENT ASSETS
  Fixed assets	946,425	811,329
  Investment properties	40,509	16,108
  Properties held for development	15,955	16,960
  Joint venture companies	152,856	149,914
  Associated companies	2,523,202	2,728,140
  Other non-current assets	278,756	191,866
  Total non-current assets	3,957,703	3,914,317
  CURRENT ASSETS
  Inventories	324,704	387,213
  Trade receivables	292,488	286,471
  Cash and bank deposits	274,586	274,586
  Other current assets	115,177	118,302
  Total current assets	1,164,198	1,066,572
  Deduct: CURRENT LIABILITIES
  Trade payables	216,721	221,958
  Borrowings	339,211	51,607
  Other current liabilities	278,688	267,624
  Total current liabilities	834,620	541,189
  NET CURRENT ASSETS	329,620	525,383
  Deduct: NON-CURRENT LIABILITIES
  Borrowings	794,396	837,672
  Other non-current liabilities	90,278	99,543
  Total non-current liabilities	884,674	937,215
  	3,402,607	3,502,485

  
  

• Cash Flow Statement (FY2022 - FY2023)

  Cash Flow Statement Year ended 30 Sep ($'000)	FY2023	FY2022
  CASH FLOWS FROM OPERATING ACTIVITIES
  Profit before taxation and exceptional items	216,991	209,597
  Adjustments for:
  Non-cash items	28,681	10,611
  Changes in working capital	79,249	(152,192)
  Cash generated from operations	324,921	68,016
  Interest income received	5,055	2,176
  Interest expenses paid	(31,689)	(24,658)
  Income taxes paid	(35,304)	(25,065)
  Payment of employee benefits	(1,243)	(1,317)
  Net cash from operating activities	261,740	19,152
  CASH FLOWS FROM INVESTING ACTIVITIES
  Dividends from associated companies	92,772	98,231
  Gross income from other investments	233	298
  Proceeds from disposal of fixed assets	1,192	880
  Purchase of fixed assets	(129,895)	(138,515)
  Purchase of other investments	-	(3,435)
  Payment for intangible assets	(18,043)	(8,347)
  Net cash outflow on acquisition of subsidiary companies	(173,677)	(2,478)
  Net cash used in investing activities	(227,221)	(53,366)
  CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from bank borrowings	357,067	442,251
  Repayment bank borrowings	(107,756)	(476,978)
  Repayment of lease liabilities	(11,892)	(14,909)
  Purchase of shares by a subsidiary company	(3,782)	(2,082)
  Capital contribution by non-controlling interests	-	926
  Payment of dividends	(101,220)	(102,925)
  Net cash used in financing activities	135,417	(153,717)
  Net (decrease)/increase in cash and cash equivalents	166,936	(187,931)
  Cash and cash equivalents at beginning of year	274,586	471,799
  Effects of exchange rate changes on cash and cash equivalents	(9,693)	(9,282)
  Cash and cash equivalents at end of year	431,829	274,586

  
  

• 5-Year Group Statistics - Profit Statement (FY2019 - FY2023)

  Notes  1	Profit Statement Year ended 30 Sep	FY2023	FY2022	FY2021	FY2020	FY2019
  	REVENUE	$2,099.1m	$2,003.2m	$1,879.1m	$1,834m	$1,902m
  	Profit before taxation
  	before interest	$249	$233m	$262m	$267m	$283m
  	before fair value adjustment and exceptional items	$217m	$210m	$239m	$245m	$269m
  	after fair value adjustment and exceptional items	$224m	$210m	$230m	$244m	$268m
  	Attributable Profit
  2	before fair value adjustment and exceptional items	$133m	$129m	$145m	$150m	$153m
  	after fair value adjustment and exceptional items	$133m	$125	$140m	$149m	$152m

• 5-Year Group Statistics - Balance Sheet (FY2019 - FY2023)

  Notes 1	Balance Sheet Year ended 30 Sep	FY2023	FY2022	FY2021	FY2020	FY2019
  3	Net asset value	$2,947m	$3,070m	$3,019m	$2,969m	$2,933m
  	Total assets employed	$5,122m	$4,981m	$4,921m	$4,775m	$4,721m
  	Long-term borrowings	$794m	$838m	$499m	$796m	$820m
  	SHARE PRICE
  	At close of business on the first trading day after preliminary announcement of results ($)	$1.07	$1.25	$1.45	$1.27	$1.75
  	Market Capitalisation	$1,557m	$1,817m	$2,120m	$1,842m	$2,536m
  	FINANCIAL RATIO
  	Return on average shareholders' equity
  	profit before fair value adjustment, taxation and exceptional items	7.2%	6.9%	8.0%	8.3%	9.3%
  2	attributable profit before fair value adjustment and exceptional items	4.4%	4.3%	4.9%	5.1%	5.3%
  4	Gearing ratio
  	without non-controlling interest	23.8%	20.0%	15.1%	18.6%	14.0%
  	with non-controlling interest	20.6%	17.6%	13.2%	16.3%	12.3%
  1	PER SHARE
  	Profit before fair value adjustment, taxation and exceptional items (cents)	14.9	14.4	16.5	16.9	18.5
  	Attributable profit (basic)
  	before fair value adjustment and exceptional items (cents)	9.2	8.9	10.0	10.4	10.6
  	after fair value and exceptional items (cents)	9.2	8.6	9.7	10.3	10.5
  3	Net asset value ($)	$2.03	$2.11	$2.08	$2.05	$2.02
  	Dividend
  	net (cents)	5.5	5.0	5.0	5.0	5.5
  5	cover (times)	1.7x	1.8x	2.0x	2.1x	1.9x
  	payout ration (%)	60%	56%	50%	48%	52%

  
  

  Notes:
  1	FY2019 – FY2022: As previously reported
  2	Attributable profit before fair value adjustment and exceptional items: Profit after taxation and non-controlling interests, but before fair value adjustment and exceptional items
  3	Net asset value: Share capital and reserves
  4	Gearing ratio: Sum of bank borrowings and term loans, less fixed deposits and cash and bank balances, expressed as a percentage of equity
  5	Dividend cover: Attributable profit before fair value adjustment and exceptional items per share, divided by net dividend per share