Group Figures

• Profit Statement 2018-2019

  Profit Statement Year ended 30 Sep ($'000)	FY2019	FY2018 (restated)
  REVENUE	1,902,337	1,834,772
  Cost of sales	(1,278,646)	(1,251,770)
  Gross profit	623,691	583,002
  TRADING PROFIT	169,557	121,160
  Share of results of joint venture companies	(445)	(3,568)
  Share of results of associated companies	113,941	97,697
  Gross income from investments	470	-
  PROFIT BEFORE INTEREST AND TAXATION ("PBIT")	283,523	215,289
  Net finance cost	(14,695)	(15,863)
  PROFIT BEFORE FAIR VALUE ADJUSTMENT, TAXATION AND EXCEPTIONAL ITEMS	268,828	199,426
  Fair value adjustment of investment properties	(1,370)	301
  PROFIT BEFORE TAXATION AND EXCEPTIONAL ITEMS	267,458	199,727
  Exceptional items	1,106	719
  PROFIT BEFORE TAXATION	268,564	200,446
  Taxation	(56,190)	(19,786)
  PROFIT AFTER TAXATION	212,374	180,660
  ATTRIBUTABLE PROFIT TO:
  Shareholders of the Company
  - Before fair value adjustment and exceptional items	153,193	123,106
  - Fair value adjustment of investment properties	(1,370)	301
  - Exceptional items	733	155
  	152,556	123,562
  Non-controlling interests	59,818	57,098
  	212,374	180,660
  FY2018 figures were restated upon adoption of SFRS(I) 15.

• Balance Sheet 2018-2019

  Balance Sheet Year ended 30 Sep ($'000)	FY2019	FY2018 (restated)
  SHARE CAPITAL AND RESERVES
  Share capital	853,549	851,941
  Treasury shares	-	(267)
  Reserves	2,079,881	1,965,124
  	2,933,430	2,816,798
  NON-CONTROLLING INTERESTS	398,947	347,586
  	3,332,377	3,164,384
  Represented by:
  NON-CURRENT ASSETS
  Fixed assets	687,140	561,459
  Investment properties	17,501	41,672
  Properties held for development	18,490	18,529
  Joint venture companies	169,898	48,257
  Associated companies	2,620,675	2,560,292
  Other non-current assets	170,850	153,702
  Total non-current assets	3,684,554	3,383,911
  CURRENT ASSETS
  Inventories	262,130	243,262
  Trade receivables	277,025	283,679
  Cash and bank deposits	420,333	530,125
  Other current assets	75,303	61,792
  Total current assets	1,034,791	1,122,217
  Deduct: CURRENT LIABILITIES
  Trade payables	182,475	171,477
  Borrowings	9,226	374,131
  Other current liabilities	309,906	251,053
  Total current liabilities	501,607	796,661
  NET CURRENT ASSETS	533,184	325,556
  Deduct: NON-CURRENT LIABILITIES
  Borrowings	820,458	497,288
  Other non-current liabilities	64,903	47,795
  Total non-current liabilities	885,361	545,083
  	3,332,377	3,164,384
  FY2018 figures were restated upon adoption of SFRS(I) 1 and SFRS(I) 15.

• Cash Flow Statement 2018-2019

  Cash Flow Statement Year ended 30 Sep ($'000)	FY2019	FY2018 (restated)
  CASH FLOWS FROM OPERATING ACTIVITIES
  Profit before taxation and exceptional items	267,458	199,727
  Adjustments for:
  Non-cash items	(42,919)	(18,064)
  Changes in working capital	33,619	7,319
  Cash generated from operations	258,158	188,982
  Interest income received	5,399	12,737
  Interest expenses paid	(21,543)	(30,265)
  Income taxes paid	(28,903)	(11,289)
  Payment of employee benefits	(2,476)	(1,216)
  Net cash from operating activities	210,635	158,949
  CASH FLOWS FROM INVESTING ACTIVITIES
  Dividends from associated companies	93,695	87,146
  Gross income from investments	470	-
  Proceeds from disposal of fixed and disposable assets	15,110	4,871
  Proceeds from disposal of investment property	12,948	-
  Net cash outflow/inflow on acquisition of subsidiary companies and business assets	(22,638)	687
  Investments in joint venture companies	(115,309)	-
  Investments in an associated company	-	(213,182)
  Purchase of other investment	-	(10,969)
  Purchase of fixed assets	(158,996)	(93,187)
  Payment for intangible assets	(17,068)	(13,369)
  Net cash used in investing activities	(191,788)	(238,003)
  CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from term loans and bank borrowings	442,962	50,759
  Repayment of term loans and bank borrowings	(488,752)	(485,617)
  Purchase of shares by a subsidiary company	(1,658)	(938)
  Capital contribution by non-controlling interests	15,082	102
  Payment of dividends	(96,160)	(96,165)
  Net cash used in financing activities	(128,528)	(531,859)
  Net decrease in cash and cash equivalents	(109,681)	(610,913)
  Cash and cash equivalents at beginning of year	527,166	1,134,383
  Effects of exchange rate changes on cash and cash equivalents	(158)	3,696
  Cash and cash equivalents at end of year	417,327	527,166
  FY2018 figures were restated upon adoption of SFRS(I) 15.

• 5-Year Group Statistics - Profit Statement (FY2015 - FY2019)

  Notes  1, 2	Profit Statement Year ended 30 Sep	FY2019	FY2018 (restated)	FY2017	FY2016	FY2015
  	REVENUE	$1,902m	$1,835m	$1,898m	$1,979m	$2,457m
  	Profit before taxation
  	before interest	$284m	$215m	$170m	$179m	$255m
  	before fair value adjustment and exceptional items	$269m	$199m	$164m	$189m	$255m
  	after fair value adjustment and exceptional items	$269m	$200m	$1,340m	$188m	$225m
  3	Attributable Profit
  	before fair value adjustment and exceptional items	$153m	$123m	$96m	$109m	$115m
  	after fair value adjustment and exceptional items	$153m	$124m	$1,279m	$108m	$633m

• 5-Year Group Statistics - Balance Sheet (FY2015 - FY2019)

  Notes  1	Balance Sheet  Year ended 30 Sep	FY2019	FY2018 (restated)	FY2017	FY2016	FY2015
  4	Net asset value	$2,933m	$2,817m	$2,815m	$2,843m	$2,268m
  	Total assets employed	$4,719m	$4,506m	$4,891m	$3,773m	$3,143m
  	Long-term borrowings	$820m	$497m	$517m	$125m	$98m
  	SHARE PRICE
  	At close of business on the first trading day after preliminary announcement of results ($)	$1.75	$1.80	$2.61	$2.13	$2.20
  	Market Capitalisation	$2,536m	$2,607m	$3,777m	$3,079m	$3,177m
  1, 2	FINANCIAL RATIO
  	Return on average shareholders' equity
  	profit before fair value adjustment, taxation and exceptional items	9.4%	7.0%	5.8%	7.4%	13.2%
  3	attributable profit before fair value adjustment and exceptional items	5.3%	4.4%	3.4%	4.3%	6.0%
  5	Gearing ratio
  	without non-controlling interest	14.0%	12.1%	5.9%	(32.0%)	(38.1%)
  	with non-controlling interest	12.3%	10.8%	5.3%	(28.8%)	(33.8%)
  1, 2	PER SHARE
  	Profit before fair value adjustment, taxation and exceptional items (cents)	18.6	13.8	11.4	13.1	17.6
  	Attributable profit (basic)
  	before fair value adjustment and exceptional items (cents)	10.6	8.5	6.7	7.5	8.0
  	after fair value and exceptional items (cents)	10.5	8.5	88.4	7.5	43.7
  4	Net asset value ($)	$2.02	$1.95	$1.95	$1.97	$1.57
  	Dividend
  	net (cents)	5.5	4.5	4.5	4.5	5.0
  6	cover (times)	1.9x	1.9x	1.5x	1.7x	1.6x
  	payout ratio (%)	52%	53%	67%	60%	63%

  
  

  Notes:
  1	FY2015 - 2017: As previously reported. FY2018: Restated upon adoption of SFRS(I) 1, SFRS(I) 9 and SFRS(I) 15
  2	Upon disposal of Myanmar Brewery Limited in FY2015, the results have been classified as discontinued operations
  3	Attributable profit before fair value adjustment and exceptional items: Profit after taxation and non-controlling interests, but before fair value adjustment and exceptional items
  4	Net asset value: Share capital, treasury shares and reserves.
  5	Gearing ratio: Sum of bank borrowings and term loans, less cash and bank deposits, expressed as a percentage of equity
  6	Dividend cover: Attributable profit before fair value adjustment and exceptional items per share divided by net dividend per share