Group Figures

• Profit Statement (FY2023 - FY2024)

  Profit Statement Year ended 30 Sep ($'000)	FY2024	FY2023
  REVENUE	2,162,092	2,099,103
  Cost of sales	(1,473,337)	(1,476,058)
  Gross profit	688,755	623,045
  TRADING PROFIT	195,078	151,910
  Share of results of joint ventures	5,386	6,494
  Share of results of associates	95,448	89,871
  Gross income from other investments	1,054	233
  PROFIT BEFORE INTEREST AND TAXATION ("PBIT")	296,966	248,508
  Net finance cost	(30,581)	(31,114)
  PROFIT BEFORE FAIR VALUE ADJUSTMENT, TAXATION AND EXCEPTIONAL ITEMS	266,385	217,394
  Fair value adjustment of investment properties	(719)	(403)
  PROFIT BEFORE TAXATION AND EXCEPTIONAL ITEMS	265,666	216,991
  Exceptional items	1,492	6,852
  PROFIT BEFORE TAXATION	267,158	223,843
  Taxation	(48,071)	(18,702)
  PROFIT AFTER TAXATION	219,087	205,141
  ATTRIBUTABLE PROFIT TO:
  Shareholders of the Company
  - Before fair value adjustment and exceptional items	150,223	133,251
  - Fair value adjustment of investment properties	(719)	537
  - Exceptional items	1,401	(572)
  	150,905	133,216
  Non-controlling interests	68,182	71,925
  	219,087	205,141

   

• Balance Sheet (FY2023 - FY2024)

  Balance Sheet Year ended 30 Sep ($'000)	FY2024	FY2023
  SHARE CAPITAL AND RESERVES
  Share capital	865,722	863,802
  Treasury shares	(935)	-
  Reserves	2,000,115	2,083,519
  	2,864,902	2,947,321
  NON-CONTROLLING INTERESTS	515,773	455,286
  	3,380,675	3,402,607
  Represented by:
  NON-CURRENT ASSETS
  Property, plant and equipments	1,009,257	946,425
  Investment properties	39,914	40,509
  Properties held for development	16,446	15,955
  Investments in joint ventures	168,536	152,856
  Investments in associates	2,351,078	2,523,202
  Other non-current assets	281,175	278,756
  Total non-current assets	3,866,406	3,957,703
  CURRENT ASSETS
  Inventories	332,304	324,704
  Trade receivables	315,288	292,488
  Cash and bank deposits	529,638	431,829
  Other current assets	158,781	115,177
  Total current assets	1,336,011	1,164,198
  Deduct: CURRENT LIABILITIES
  Trade payables	227,236	216,721
  Borrowings	233,095	339,211
  Other current liabilities	335,772	278,688
  Total current liabilities	796,103	834,620
  NET CURRENT ASSETS	539,908	329,578
  Deduct: NON-CURRENT LIABILITIES
  Borrowings	931,994	794,396
  Other non-current liabilities	93,645	90,278
  Total non-current liabilities	1,025,639	884,674
  	3,380,675	3,402,607

   

• Cash Flow Statement (FY2023 - FY2024)

  Cash Flow Statement Year ended 30 Sep ($'000)	FY2024	FY2023
  CASH FLOWS FROM OPERATING ACTIVITIES
  Profit before taxation and exceptional items	265,666	216,991
  Adjustments for:
  Non-cash items	21,768	28,681
  Changes in working capital	7,170	79,249
  Cash generated from operations	294,604	324,921
  Interest income received	12,416	5,055
  Interest expenses paid	(41,750)	(31,689)
  Income taxes paid	(47,686)	(35,304)
  Payment of employee benefits	(1,185)	(1,243)
  Net cash from operating activities	216,399	261,740
  CASH FLOWS FROM INVESTING ACTIVITIES
  Dividends from associates	87,217	92,772
  Gross income from other investments	1,054	233
  Proceeds from refund of other investments	-	342
  Proceeds from disposal of property, plant and equipment	5,655	1,192
  Investment in a joint venture	-	(145)
  Purchase of property, plant and equipment	(106,203)	(129,895)
  Payment for intangible assets	(7,757)	(18,043)
  Net cash outflow on acquisition of subsidiaries	-	(173,677)
  Net cash used in investing activities	(20,034)	(227,221)
  CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from bank borrowings	344,552	357,067
  Repayment bank borrowings	(327,367)	(107,756)
  Repayment of lease liabilities	(9,271)	(11,892)
  Purchase of shares by a subsidiary	(5,223)	(3,782)
  Purchase of treasury shares	(935)	-
  Payment of dividends	(120,872)	(101,220)
  Net cash (used in)/from financing activities	(119,116)	132,417
  Net increase in cash and cash equivalents	77,249	166,936
  Cash and cash equivalents at beginning of year	431,829	274,586
  Effects of exchange rate changes on cash and cash equivalents	20,560	(9,693)
  Cash and cash equivalents at end of year	529,638	431,829

   

• 5-Year Group Statistics - Profit Statement (FY2020 - FY2024)

  Notes  1	Profit Statement Year ended 30 Sep	FY2024	FY2023	FY2022	FY2021	FY2020
  	REVENUE	$2,162m	$2,099m	$2,003m	$1,879m	$1,834m
  	Profit before taxation
  	before interest	$297m	$249m	$233m	$262m	$267m
  	before fair value adjustment and exceptional items	$266m	$217m	$210m	$239m	$245m
  	after fair value adjustment and exceptional items	$267m	$224m	$210m	$230m	$244m
  	Attributable Profit
  2	before fair value adjustment and exceptional items	$150m	$133m	$129m	$145m	$150m
  	after fair value adjustment and exceptional items	$151m	$133m	$125	$140m	$149m

• 5-Year Group Statistics - Balance Sheet (FY2020 - FY2024)

  Notes 1	Balance Sheet Year ended 30 Sep	FY2024	FY2023	FY2022	FY2021	FY2020
  3	Net asset value	$2,865m	$2,947m	$3,070m	$3,019m	$2,969m
  	Total assets employed	$5,202m	$5,122m	$4,981m	$4,921m	$4,775m
  	Long-term borrowings	$932m	$794m	$838m	$499m	$796m
  	SHARE PRICE
  	At close of business on the first trading day after preliminary announcement of results ($)	$1.36	$1.07	$1.25	$1.45	$1.27
  	Market Capitalisation	$1,981m	$1,557m	$1,817m	$2,120m	$1,842m
  	FINANCIAL RATIO
  	Return on average shareholders' equity
  	profit before fair value adjustment, taxation and exceptional items	9.2%	7.2%	6.9%	8.0%	8.3%
  2	attributable profit before fair value adjustment and exceptional items	5.2%	4.4%	4.3%	4.9%	5.1%
  4	Gearing ratio
  	without non-controlling interest	22.2%	23.8%	20.0%	15.1%	18.6%
  	with non-controlling interest	18.8%	20.6%	17.6%	13.2%	16.3%
  1	PER SHARE
  	Profit before fair value adjustment, taxation and exceptional items (cents)	18.3	14.9	14.4	16.5	16.9
  	Attributable profit (basic)
  	before fair value adjustment and exceptional items (cents)	10.3	9.2	8.9	10.0	10.4
  	after fair value and exceptional items (cents)	10.4	9.2	8.6	9.7	10.3
  3	Net asset value ($)	$1.97	$2.03	$2.11	$2.08	$2.05
  	Dividend
  	net (cents)	5.5	5.5	5.0	5.0	5.0
  5	cover (times)	1.9x	1.7x	1.8x	2.0x	2.1x
  	payout ration (%)	53%	60%	56%	50%	48%

  
  

  Notes:
  1	FY2020 – FY2023: 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