Preliminary Final Report Appendix 4E FY 2014 Freedom Foods Group Limited Full Year Results Announcement FY 2014 (Previous corresponding reporting period 30 June 2013) A.B.N 41 002 814 235 Listing Rule 4.3A – item 2 Results for Announcement to the Market CONSOLIDATED ENTITY In thousands of AUD 30 June 2014 $’000 Percentage change over previous corresponding period Revenues Net Profit 89,163 12,132 0.3% increase 11.6% decrease Dividends (distributions) Amount per security Final Dividend Paid, Ordinary Shares Fully Franked at 30% tax rate $0.01 Interim Dividends Paid, Ordinary Shares Fully Franked at 30% tax rate $0.015 Final Dividend Payable, Ordinary Shares (1) Fully Franked at 30% tax rate Payable 3 rd November 2014 $0.015 Record date for determining entitlements to the Final Dividend 3 rd October 2014 Final Dividend Payable, Converting Redeemable Preference Shares Fully Franked at 30% tax rate $0.014 Interim Dividend Payable, Converting Redeemable Preference Shares Fully Franked at 30% tax rate $0.0135 Final Dividend Payable, Converting Redeemable Preference Shares Fully Franked at 30% tax rate Payable 15 th October 2014 $0.0135 Record date for determining entitlements to the CRPS dividend 3 rd October 2014 Net tangible assets per security 30 June 2014 30 June 2013 Net tangible assets (in thousands of AUD) 100,745 60,907 Net assets (in thousands of AUD) 122,233 82,395 Total number of ordinary shares (in thousands) 150,645 113,754 Total number of converting redeemable preference shares (in thousands) 152 17,219 Total number of shares (ordinary + CRPS) 150,797 130,973 Net assets per security (in dollars of AUD) 0.81 0.63 Net tangible assets per security (in dollars of AUD) 0.67 0.47
12
Embed
Preliminary Final Report Appendix 4E FY 2014 Freedom Foods ... · Preliminary Final Report Appendix 4E . FY 2014 . Freedom Foods Group Limited Full Year Results Announcement . FY
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Preliminary Final Report Appendix 4E FY 2014
Freedom Foods Group Limited Full Year Results Announcement
FY 2014 (Previous corresponding reporting period 30 June 2013)
A.B.N 41 002 814 235
Listing Rule 4.3A – item 2 Results for Announcement to the Market
CONSOLIDATED ENTITY In thousands of AUD
30 June 2014 $’000
Percentage change over previous corresponding period
Revenues Net Profit
89,163 12,132
0.3% increase 11.6% decrease
Dividends (distributions)
Amount per security
Final Dividend Paid, Ordinary Shares Fully Franked at 30% tax rate
Final Dividend Payable, Converting Redeemable Preference Shares Fully Franked at 30% tax rate Payable 15
th October 2014
$0.0135
Record date for determining entitlements to the CRPS dividend
3
rd October 2014
Net tangible assets per security
30 June 2014 30 June 2013
Net tangible assets (in thousands of AUD) 100,745 60,907
Net assets (in thousands of AUD) 122,233 82,395
Total number of ordinary shares (in thousands) 150,645 113,754
Total number of converting redeemable preference shares (in thousands) 152 17,219
Total number of shares (ordinary + CRPS) 150,797 130,973
Net assets per security (in dollars of AUD) 0.81 0.63
Net tangible assets per security (in dollars of AUD) 0.67 0.47
The accounts are in the process of being audited or subject to review. Rory Macleod Managing Director Company Secretary 29
th August 2014
Directors’ Report Your directors submit the financial report of the consolidated entity for the full year ended 30 June 2014. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows: Directors The names of directors who held office during or since the end of the year: P.R. Gunner – Chairman (Non Executive) R.J.F. Macleod – Managing Director (Executive) A.M. Perich – Director (Non Executive) R. Perich – Director (Non Executive) M. Miles - Director (Non Executive) T. Allen – Director (Non Executive)
M.R. Perich – Alternate Director (Non Executive) Rounding off of amounts The company is a company of the kind referred to in ASIC Class Order 98/0100, dated 10 July 1998, and in accordance with that Class Order amounts in the directors’ report and the half-year financial report are rounded off to the nearest thousand dollars, unless otherwise indicated. The report is signed in accordance with a resolution of the Board of Directors made pursuant to s 306 (3) of the Corporations Act 2001. Signed on behalf of the Directors
Rory J F Macleod
Managing Director
Dated on this 29th
day of August 2014
Sydney
FREEDOM FOODS GROUP LIMITED
Notes
2014 2013
Revenue from sale of goods 2 89,163 88,922
Cost of sales (53,960) (60,522)
Gross profit 35,203 28,400
Other income 2 665 108
Marketing expenses (3,070) (2,433)
Selling and distribution expenses (12,075) (10,157)
Administrative expenses (4,472) (5,072)
2 16,251 10,846
(2,743) (2,628)
13,508 8,218
Finance costs 3 (809) (2,356)
Profit on sale of A2C shares - 11,843
- -
(26) 819
Profit before income tax 12,673 18,524
Income tax (541) (4,802)
Profit for the year 12,132 13,722
Other comprehensive income - -
Total comprehensive income for the year 12,132 13,722
Profit attributable to:
Owners of the parent 12,132 13,722
Non-controlling interests - -
12,132 13,722
Total comprehensive income attributable to:
Owners of the parent 12,132 13,722
Non-controlling interests - -
12,132 13,722
Earnings per share
From continuing operations:
Basic earnings per share (cents per share) 4 8.65 14.73
Diluted earnings per share (cents per share) 4 8.21 11.96
Ordinary Dividends per share paid - Final 2013 (cents per share) 1.00 1.00
CRPS Dividends per share paid - Final 2013 (cents per share) 1.40 1.40
Ordinary Dividends per share paid - Interim 2014 (cents per share) 1.50 1.00
CRPS Dividends per share paid - Interim 2014 (cents per share) 1.35 1.35
Notes to the financial statements are included.
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 30 JUNE 2014
Share of profit of associates accounted for using the equity method
Profit before depreciation, income tax, finance costs and equity accounted investments
Depreciation
Profit before income tax, finance costs and equity accounted investments
Consolidated
$000
Share of profit of joint ventures accounted for using the equity method
FREEDOM FOODS GROUP LIMITED
Notes Consolidated
$000
2014 2013
Assets
Current assets
Cash and cash equivalents 8(a) 4,873 14,106
Trade and other receivables 20,655 19,076
Other financial assets 689 148
Inventories 18,967 14,886
Prepayments 1,211 918
Total Current Assets 46,395 49,134
Non-current assets
Investments in associates 9 15,061 9,909
Deferred tax assets 385 1,146
Property, plant and equipment 54,597 45,162
Loans due from associated entities 6 13,303 -
Goodwill 5,214 5,214
Other intangible assets 16,274 16,274
Total non-current assets 104,834 77,705
Total assets 151,229 126,839
Liabilities
Current liabilities
Trade and other payables 13,068 15,847
Borrowings 5 3,899 14,282
Current tax liabilities 4,155 4,375
Other liabilities 287 472
Provisions 1,438 1,217
Total current liabilities 22,847 36,193
Non-current liabilities
Trade and other payables 53 63
Borrowings 5 5,927 8,066
Provisions 169 122
Total non-current liabilities 6,149 8,251
Total liabilities 28,996 44,444
Net assets 122,233 82,395
Equity
Capital and Reserves
Equity attributable to owners of the company
Issued capital 94,419 62,978
Reserves (3,636) (3,549)
Retained earnings 31,450 22,966
Total equity 122,233 82,395
Notes to the financial statements are included.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2014
FREEDOM FOODS GROUP LIMITED
Notes Consolidated
$000
2014 2013
Cash flows from operating activities
Receipts from customers 87,783 87,480
Payments to suppliers and employees (80,595) (81,605)
Cash generated from operations 7,188 5,875
Interest and other costs of finance paid (1,010) (1,979)
Income tax (paid) - (353)
Other income received 578 -
Receipt of government grants 143 115
Net cash provided by operating activities 8(b) 6,899 3,658
Cash flows from investing activities
Proceeds from disposal of property, plant and equipment - -
Payment for property, plant and equipment (19,937) (10,193)
Purchase of shares in associated entity (678) (20)
Proceeds from sale of equity shares - 15,277
Advance to associates (14,146) -
Proceeds from associates 17,500 -
Payment of capital expenditure for associates -
Investment in equity interest (4,500) -
Net cash used in investing activities (21,761) 5,064
Cash flows from financing activities
Proceeds from issue of shares 32,198 24,109
Payment of share issue costs (1,227) (722)
Dividends paid (3,186) (2,327)
Proceeds from borrowings - 4,201
Repayment of borrowings (12,539) (12,257)
Repayment of related party loan (9,617) (8,387)
Net cash provided by financing activities 5,629 4,617
Cash and cash equivalents at beginning of financial year (9,233) 13,339
Net increase in cash and cash equivalents 14,106 767
Cash and cash equivalents at end of financial year 8(a) 4,873 14,106
Notes to the financial statements are included.
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 30 JUNE 2014