Group Figures

• Profit Statement 2021-2022

  Profit Statement Year ended 30 Sep ($'000)	FY2022	FY2021
  REVENUE	2,003,214	1,879,163
  Cost of sales	(1,429,370)	(1,296,247)
  Gross profit	573,844	582,916
  TRADING PROFIT	128,777	151,046
  Share of results of joint venture companies	4,465	(3,188)
  Share of results of associated companies	99,875	113,486
  Gross income from investments	298	403
  PROFIT BEFORE INTEREST AND TAXATION ("PBIT")	233,415	261,747
  Net finance cost	(23,783)	(22,852)
  PROFIT BEFORE FAIR VALUE ADJUSTMENT, TAXATION AND EXCEPTIONAL ITEMS	209,632	238,895
  Fair value adjustment of investment properties	(35)	17
  PROFIT BEFORE TAXATION AND EXCEPTIONAL ITEMS	209,597	238,912
  Exceptional items	(7,408)	(8,720)
  PROFIT BEFORE TAXATION	202,189	230,192
  Taxation	(25,254)	(34,718)
  PROFIT AFTER TAXATION	176,935	195,474
  ATTRIBUTABLE PROFIT TO:
  Shareholders of the Company
  - Before fair value adjustment and exceptional items	129,421	145,217
  - Fair value adjustment of investment properties	(35)	17
  - Exceptional items	(4,519)	(4,792)
  	124,867	140,442
  Non-controlling interests	52,068	55,032
  	176,935	195,474

  
  

• Balance Sheet 2021-2022

  Balance Sheet Year ended 30 Sep ($'000)	FY2022	FY2021
  SHARE CAPITAL AND RESERVES
  Share capital	861,456	858,830
  Reserves	2,208,081	2,160,640
  	3,069,537	3,019,470
  NON-CONTROLLING INTERESTS	432,948	431,766
  	3,502,485	3,451,236
  Represented by:
  NON-CURRENT ASSETS
  Fixed assets	811,329	760,021
  Investment properties	16,108	16,858
  Properties held for development	16,960	17,853
  Joint venture companies	149,914	154,341
  Associated companies	2,728,140	2,712,634
  Other non-current assets	191,866	181,787
  Total non-current assets	3,914,317	3,843,494
  CURRENT ASSETS
  Inventories	387,213	297,577
  Trade receivables	286,471	254,806
  Cash and bank deposits	274,586	471,799
  Other current assets	118,302	53,596
  Total current assets	1,066,572	1,077,778
  Deduct: CURRENT LIABILITIES
  Trade payables	221,958	176,224
  Borrowings	51,607	427,573
  Other current liabilities	267,624	262,436
  Total current liabilities	541,189	866,233
  NET CURRENT ASSETS	525,383	211,545
  Deduct: NON-CURRENT LIABILITIES
  Borrowings	837,672	499,262
  Other non-current liabilities	99,543	104,541
  Total non-current liabilities	937,215	603,803
  	3,502,485	3,451,236

  
  

• Cash Flow Statement 2021-2022

  Cash Flow Statement Year ended 30 Sep ($'000)	FY2022	FY2021
  CASH FLOWS FROM OPERATING ACTIVITIES
  Profit before taxation and exceptional items	209,597	238,912
  Adjustments for:
  Non-cash items	10,611	7,418
  Changes in working capital	(152,192)	58,496
  Cash generated from operations	68,016	304,826
  Interest income received	2,176	2,330
  Interest expenses paid	(24,658)	(24,776)
  Income taxes paid	(25,065)	(32,880)
  Payment of employee benefits	(1,317)	(2,097)
  Net cash from operating activities	19,152	247,403
  CASH FLOWS FROM INVESTING ACTIVITIES
  Dividends from associated companies	98,231	92,825
  Gross income from other investments	298	403
  Proceeds from disposal of fixed assets	880	617
  Purchase of fixed assets	(138,515)	(90,279)
  Purchase of other investments	(3,435)	-
  Payment for intangible assets	(8,347)	(9,185)
  Net cash outflow on acquisition of subsidiary companies	(2,478)	(16,207)
  Net cash used in investing activities	(53,366)	(21,826)
  CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from bank borrowings	442,251	142,404
  Repayment bank borrowings	(476,978)	(50,889)
  Repayment of lease liabilities	(14,909)	(18,683)
  Purchase of shares by a subsidiary company	(2,082)	(2,134)
  Capital contribution by non-controlling interests	926	-
  Payment of dividends	(102,925)	(104,514)
  Net cash used in financing activities	(153,717)	(33,816)
  Net (decrease)/increase in cash and cash equivalents	(187,931)	191,761
  Cash and cash equivalents at beginning of year	471,799	285,479
  Effects of exchange rate changes on cash and cash equivalents	(9,282)	(5,441)
  Cash and cash equivalents at end of year	274,586	471,799

  
  

• 5-Year Group Statistics - Profit Statement (FY2018 - FY2022)

  Notes  1	Profit Statement Year ended 30 Sep	FY2022	FY2021	FY2020	FY2019	FY2018
  	REVENUE	$2,003.2m	$1,879.1m	$1,834m	$1,902m	$1,835m
  	Profit before taxation
  	before interest	$233m	$262m	$267m	$283m	$215m
  	before fair value adjustment and exceptional items	$210m	$239m	$245m	$269m	$199m
  	after fair value adjustment and exceptional items	$210m	$230m	$244m	$268m	$200m
  	Attributable Profit
  2	before fair value adjustment and exceptional items	$129m	$145m	$150m	$153m	$123m
  	after fair value adjustment and exceptional items	$125	$140m	$149m	$152m	$124m

• 5-Year Group Statistics - Balance Sheet (FY2018 - FY2022)

  Notes 1	Balance Sheet Year ended 30 Sep	FY2022	FY2021	FY2020	FY2019	FY2018
  3	Net asset value	$3,502m	$3,019m	$2,969m	$2,933m	$2,817m
  	Total assets employed	$4,981m	$4,921m	$4,775m	$4,721m	$4,506m
  	Long-term borrowings	$889m	$499m	$796m	$820m	$497m
  	SHARE PRICE
  	At close of business on the first trading day after preliminary announcement of results ($)	$1.25	$1.45	$1.27	$1.75	$1.80
  	Market Capitalisation	$1,817m	$2,120m	$1,842m	$2,536m	$2,607m
  	FINANCIAL RATIO
  	Return on average shareholders' equity
  	profit before fair value adjustment, taxation and exceptional items	6.9%	8.0%	8.3%	9.3%	7.1%
  2	attributable profit before fair value adjustment and exceptional items	4.3%	4.9%	5.1%	5.3%	4.4%
  4	Gearing ratio
  	without non-controlling interest	20.0%	15.1%	18.6%	14.0%	12.1%
  	with non-controlling interest	17.6%	13.2%	16.3%	12.3%	10.8%
  1	PER SHARE
  	Profit before fair value adjustment, taxation and exceptional items (cents)	14.4	16.5	16.9	18.5	13.8
  	Attributable profit (basic)
  	before fair value adjustment and exceptional items (cents)	8.9	10.0	10.4	10.6	8.5
  	after fair value and exceptional items (cents)	8.6	9.7	10.3	10.5	8.5
  3	Net asset value ($)	$2.11	$2.08	$2.05	$2.02	$1.95
  	Dividend
  	net (cents)	5.0	5.0	5.0	5.5	4.5
  5	cover (times)	1.8x	2.0x	2.1x	1.9x	1.9x
  	payout ration (%)	56%	50%	48%	52%	53%

  
  

  Notes:
  1	FY2018 – FY2021: 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