Koon Holdings financial information

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Financial Statements
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The information is retrieved from Annual Report 2009
Years
2009
2008
2007
2006
2005
2004
2003

Group   Group  
2009   2008  
$'000   $'000  
         
Revenue 135,305   122,286  
Cost of sales (118,389)   (118,501)  
Gross profit 16,916   3,785  
Other income 1,959   4,154  
Administrative expenses (6,602)   (5,629 )
Finance costs (146 ) (190 )
Profit before income tax 12,127 2,120
Income tax expense (1,461 ) (149 )
Profit for the year, representing total comprehensive income for the year attributable to owners of the Company 10,666 1,971
 
Earnings per share (cents)
Basic/Diluted 13.13   2.43
       
Group   Group  
2009   2008  
$'000   $'000  
ASSETS
Current assets
Cash and cash equivalents 20,844   10,004  
Pledged fixed deposits 3,286   -  
Trade receivables 21,379   31,612  
Other receivables and prepayments 786   1,006  
Inventories 5,059   -  
Contract work-in-progress 15,419   18,913  
Held for trading investments 42   36  
Available for sale investment 500   500  
Total current assets 67,315   62,071  
 
Non-current assets
Pledged fixed deposits -   5,505  
Subsidiaries -   -  
Associate *   *  
Property, plant and equipment 14,296   11,586  
Deferred income tax 1,190   -  
Total non-current assets 15,486   17,091  
Total assets 82,801   79,162  
 
LIABILITIES AND EQUITY
 
Current liabilities
Current portion of long-term bank loans 913   593  
Trade payables 32,605   37,775  
Other payables 5,269   2,528  
Contract work-in-progress 1,421   7,350  
Current portion of finance leases 1,087   1,524  
Income tax payable 2,317   29  
Total current liabilities 43,612   49,799  
 
Non-current liabilities
Long-term bank loan 944   730  
Finance leases 609   1,553  
Deferred income tax 932   570  
Total non-current liabilities 2,485   2,853  
 
Capital and reserves
Share capital 6,998   6,660  
Capital reserve 13,006   13,006  
Accumulated profits 16,700   6,844
Total equity 36,704   26,510  
Total liabilities and equity 82,801   79,162  
       
* Amount less than $1,000.
Group   Group  
2009   2008  
$'000   $'000  
     
Operating activities
Profit before income tax 12,127   2,120
Adjustments for:
    Reversal for doubtful trade receivables -   (9)  
    Depreciation expense 1,553   1,235  
    Dividend income from available for sale investment -   (1,500 )
    Provision for foreseeable losses on projects 3,990 4,847
    Gain on disposal of property, plant and equipment (127 ) (1,571 )
    Interest income (61 ) (53 )
    Interest expense 146   190  
    (Credit) Charge to profit or loss on held for trading
    investments		 (6) 54  
    Share-based payment expense 338 -  
  Operating cash flows before movements in working capital 17,960   5,313
 
    Trade receivables 10,233 (18,749)
    Other receivables and prepayments 220   310  
    Contract work-in-progress (11,484) 3,593
    Trade payables (5,170)   12,917
    Other payables 2,741   905
  Cash generated from operations 14,500 4,289
 
  Income tax (paid) refund (1)   2,400
Net cash from operating activities 14,499 6,689
 
Investing activities
    Proceeds on disposal of property, plant and equipment 214   1,674  
    Purchase of plant and equipment (4,109) (724)
    Interest received 61   53  
Net cash (used in) from investing activities (3,834)   1,003  
 
Financing activities
    Repayment of obligations under finance lease (1,622) (1,060)
    Increase in bank loans 1,127   -
    Repayment of bank loans (593 ) (593)
    Interest paid (146) (190)
    Decrease (Increase) in pledged fixed deposits 2,219 (1,268)
    Dividend paid (810)   -  
Net cash from (used in) financing activities 175 (3,111)
 
Net increase in cash and cash equivalents 10,840   4,581  
Cash and cash equivalents at beginning of year 10,004   5,423  
Cash and cash equivalents at end of year 20,844   10,004