MCHNZ: Announcement on Half Year Results Ended 30 June 20

FOR THE SIX MONTHS ENDED 30 JUNE 2023

Unaudited

Unaudited

6 months

6 months

DOLLARS IN THOUSANDS

NOTE

to 30/06/23

to 30/06/22

Revenue

60,051

83,656

Cost of sales

(28,780)

(32,015)

Gross profit

31,271

51,641

Administrative expenses

(12,981)

(10,628)

Other operating expenses

(9,564)

(8,839)

Operating profit before finance income

8,726

32,174

Finance income

3,785

1,283

Finance costs

(1,045)

(1,407)

Net finance income

2,740

(124)

Profit before income tax

11,466

32,050

Income tax expense

(3,085)

(9,113)

Profit for the period

8,381

22,937

Profit for the period attributable to:

Equity holders of the parent

6,177

15,403

Non-controlling interests

2,204

7,534

Profit for the period

8,381

22,937

Basic earnings per share (cents)

4

3.90c

9.74c

Diluted earnings per share (cents)

4

3.90c

9.74c

FOR THE SIX MONTHS ENDED 30 JUNE 2023

Unaudited

Unaudited

6 months

6 months

DOLLARS IN THOUSANDS

Note

to 30/06/23

to 30/06/22

Profit for the period

8,381

22,937

Items that are or may be reclassified to profit or loss

Foreign exchange translation movements

894

2,656

- Tax (expense)/credit on foreign exchange

(5)

(15)

889

2,641

Total comprehensive income for the period

9,270

25,578

Total comprehensive income for the period attributable to:

Equity holders of the parent

7,066

18,044

Non-controlling interests

2,204

7,534

Total comprehensive income for the period

9,270

25,578

DETAILS OF SPECIFIC RECEIPTS/OUTLAYS, REVENUE/EXPENSES

Classified under:

Administrative expenses

Audit fees

(176)

(160)

Other operating expenses

Depreciation of Property, Plant & Equipment

(3,444)

(3,383)

Depreciation of Investment Property

(511)

(98)

Depreciation of Right-Of-Use Assets

(411)

(532)

Leasing and rental expenses

(341)

(342)

Finance income

Interest income

3,785

1,250

Finance costs

Interest expense

-

(1)

Interest expense on lease liability

(895)

(1,395)

Foreign exchange loss

(144)

(1)

FOR THE SIX MONTHS ENDED 30 JUNE 2023

Attibutable to Equity Holders of the Group

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Share

Exchange

Accumulated

Treasury

Unaudited

Non-controlling

Total

DOLLARS IN THOUSANDS

NOTE

Capital

Reserves

Losses

Stock

Total

Interests

Equity

Balance at 1 January 2022

383,266

(2,025)

132,974

(26)

514,189

103,610

617,799

Movement in exchange translation reserve

-

2,641

-

-

2,641

-

2,641

Income and expense recognised directly in equity

-

2,641

-

-

2,641

-

2,641

Profit for the period

-

-

15,403

-

15,403

7,534

22,937

Total comprehensive income for the period

-

2,641

15,403

-

18,044

7,534

25,578

Transactions with owners, recorded directly in equity :

Dividends paid to:

Equity holders of the parent

5

-

-

(5,537)

-

(5,537)

-

(5,537)

Non-controlling interests

-

-

-

-

-

(3,705)

(3,705)

Movement of non-controlling interests without a change in control

-

-

26

-

26

1,349

1,375

Balance at 30 June 2022

383,266

616

142,866

(26)

526,722

108,788

635,510

Balance at 1 January 2023

383,266

(1,396)

149,175

(26)

531,019

111,682

642,701

Movement in exchange translation reserve

-

889

-

-

889

-

889

Income and expense recognised directly in equity

-

889

-

-

889

-

889

Profit for the period

-

-

6,177

-

6,177

2,204

8,381

Total comprehensive income for the period

-

889

6,177

-

7,066

2,204

9,270

Transactions with owners, recorded directly in equity :

Dividends paid to:

Equity holders of the parent

5

-

-

(4,747)

-

(4,747)

-

(4,747)

Non-controlling interests

-

-

-

-

-

(3,940)

(3,940)

Movement of non-controlling interests without a change in control

-

-

(374)

-

(374)

1,863

1,489

Balance at 30 June 2023

383,266

(507)

150,231

(26)

532,964

111,809

644,773

AS AT 30 JUNE 2023

Unaudited

Audited

as at

as at

DOLLARS IN THOUSANDS

NOTE

30/06/23

31/12/22

SHAREHOLDERS' EQUITY

Issued capital

3

383,266

383,266

Reserves

149,724

147,779

Treasury stock

3

(26)

(26)

Non-controlling interests

111,809

111,682

Total equity

644,773

642,701

Represented by:

NON CURRENT ASSETS

Property, plant and equipment

258,906

255,279

Development properties

201,823

205,308

Investment properties

36,156

36,381

Investment in associates

2

2

Total non-current assets

496,887

496,970

CURRENT ASSETS

Cash and cash equivalents

58,342

61,387

Short term bank deposits

106,097

111,946

Trade and other receivables

22,491

14,436

Inventories

1,374

1,409

Income tax receivable

3,088

-

Development properties

24,848

23,038

Total current assets

216,240

212,216

Total assets

713,127

709,186

NON CURRENT LIABILITIES

Lease liabilities

27,772

25,458

Provision for deferred taxation

9,621

9,717

Total non-current liabilities

37,393

35,175

CURRENT LIABILITIES

Trade and other payables

28,385

28,024

Trade payables due to related parties

6

2,407

2,248

Lease liabilities

169

233

Income tax payable

-

805

Total current liabilities

30,961

31,310

Total liabilities

68,354

66,485

Net assets

644,773

642,701