AMBERTECH LIMITED — Interim / Quarterly Report 2016

Feb 21, 2016

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Company Announcements Office Australian Stock Exchange 4[th] Floor, 20 Bridge Street Sydney NSW

22 February 2016

Dear Sir/Madam

Please find following the Appendix 4D and Half‐Year Financial Report of Ambertech Limited for the period ended 31 December 2015.

Kind regards

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Robert Glasson Company Secretary

Ambertech Limited ACN 079 080 158 Unit 1, 2 Daydream Street, Warriewood NSW 2102 Tel: 02 9998 7600 Fax: 02 9999 0770 email: rglasson@ambertech.com.au Web: www.ambertech.com.au

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Ambertech Limited and Controlled Entities ACN 079 080 158

Appendix 4D and Half Year Report Period Ended 31 December 2015

For Immediate Release 22 February 2016

Results for Announcement to the market Further Explanation of the Results Outlook for the business Financial Data Half Year Financial Report

Ambertech Limited ACN 079 080 158 Unit 1, 2 Daydream Street, Warriewood NSW 2102 Tel: 02 9998 7600 Fax: 02 9999 0770 email: rglasson@ambertech.com.au Web: www.ambertech.com.au

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Results for Announcement to the Market

For the period ended 31 December 2015

Key Information

The following information is provided to the ASX under listing rule 4.2A.

	31 Dec 15	31 Dec 14	Movement	Movement
	$’000	$’000	$’000	%
Revenuefrom ordinary activities	28,832	26,875	1,957	7.28
Profit after income tax for the period attributable to
members	491	3	488	16,267
Net profitfor the period attributable to members	491	3	488	16,267

Net profitfor the period attributable to members	491	3	488 1
Dividend History
The Board has advised that there will be no interim dividend in
respect of the period ended 31 December 2015.
	Amount		Franked
Interim dividends
In respect of the half‐year ended 31 December 2015	Nil		100%
In respect of the half‐year ended 31 December 2014	Nil		100%
Final Dividends
In respect of the year ended 30 June 2015	Nil		100%
In respect of the year ended 30 June 2014	Nil		100%
Key Ratios	31 Dec 15	31 Dec 14
Net tangible assets per security	32.1c	32.3c

Further Explanation of the results follows in the attached commentary and Half Year Financial Report

Ambertech Limited ACN 079 080 158 Unit 1, 2 Daydream Street, Warriewood NSW 2102 Tel: 02 9998 7600 Fax: 02 9999 0770 email: rglasson@ambertech.com.au Web: www.ambertech.com.au

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Further Explanation of the Results

For the period ended 31 December 2015

Segment Results

Lifestyle Entertainment Segment

Sales revenue up 17.1% to $17,284,000 (Dec 14: $14,761,000). EBIT up 260% to $1,245,000 (Dec 14: $346,000).

Ambertech’s lifestyle entertainment segment distributes leading brands through a variety of channels. The period under review saw continued improvement in the performance of some key brands, which drove revenue and earnings growth over the prior corresponding period. We continue to work on improving returns from each brand that the group represents in the market place, including ongoing review of our go to market strategies.

Opportunities for growth also exist in new agency acquisition, and we continue to seek new brands that are complementary or are considered to be in growth areas.

Professional Segment

Sales revenue down 7.9% to $9,758,000 (Dec 14: $10,598,000). EBIT down 138% to $(81,000) (Dec 14: $214,000).

Ambertech’s professional segment continues to enhance its reputation as a preferred supplier of high technology equipment in Australia. Our dealer based business in professional products remained strong during the period under review.

Our media systems offerings are predominantly project based, with recurring revenue from support contracts. Management continues to focus on growth areas including law enforcement, defence and mining with communications systems. During the year fewer capital projects came to fruition in the traditional broadcast media space, and this drove the revenue result lower and created a small loss for this segment for the period under review.

Whilst results in this segment can fluctuate depending on the number of projects completed during the period under review, some of our newer brands have developed into core offerings which should see growth in coming periods.

New Zealand Segment

Sales revenue up 13% to $1,848,000 (Dec 14: $1,636,000). EBIT down 38.2% to $(94,000) (Dec 14: $(68,000)).

Ambertech has focused on expanding our product offerings in New Zealand and leveraging more off our Australian operations in order to restore profitability to this segment. During the period under review we have continued to see market share gains, however the timing of project work contributed to the loss reported for the period.

Ambertech Limited ACN 079 080 158 Unit 1, 2 Daydream Street, Warriewood NSW 2102 Tel: 02 9998 7600 Fax: 02 9999 0770 email: rglasson@ambertech.com.au Web: www.ambertech.com.au

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Outlook for the business

The Board and management of Ambertech continue to focus on fine‐tuning aspects of the business to facilitate growth in existing and new markets across each of our market segments.

The second half of the financial year is typically a more difficult period for our Lifestyle Entertainment segment. In particular, sales to the major retailers slow during the early months of the new calendar year, and this has an impact on our results during this time. We have made changes to this section of our business that will assist in reducing that impact on our results compared to the second half of the 2015 financial year.

Our pipeline for capital equipment sales in our media systems area has improved; with strong tender activity occurring in recent months, in both our traditional media market and new growth area markets. The timing of this business coming to fruition, however, continues to be uncertain at this time.

On behalf of the Board

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Robert Glasson Company Secretary

Ambertech Limited ACN 079 080 158 Unit 1, 2 Daydream Street, Warriewood NSW 2102 Tel: 02 9998 7600 Fax: 02 9999 0770 email: rglasson@ambertech.com.au Web: www.ambertech.com.au

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Financial Data

Financial Data
	31 Dec 15	31 Dec 14	Movement
Sales Revenue	$’000	$’000	$’000	%
Lifestyle Entertainment	17,284	14,761
Professional	9,758	10,598
New Zealand	1,848	1,636
Inter‐segment	(67)	(131)
Total Sales Revenue	28,823	26,864	1,959	7.3
Segment Result
Lifestyle Entertainment	1,245	346
Professional	(81)	214
New Zealand	(94)	(68)
Unallocated/Corporate	(211)	(33)
Earnings before interest and tax (EBIT)	859	459	400	87.1
Net interest expense	(460)	(440)
Net profit before tax	399	19	380	2000
Income tax benefit/(expense)	92	(16)
Netprofit for theperiod	491	3	488	16267
Key Ratios
EBIT/Sales	3.0%	1.7%
Inventory/Sales	24.8%	24.4%
Receivables/Sales	16.6%	18.5%
Basic earningsper share	1.6c	0.0c

For further information, please contact our Company Secretary, Mr Robert Glasson.

Ambertech Limited ACN 079 080 158 Unit 1, 2 Daydream Street, Warriewood NSW 2102 Tel: 02 9998 7600 Fax: 02 9999 0770 email: rglasson@ambertech.com.au Web: www.ambertech.com.au

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AMBERTECH LIMITED AND CONTROLLED ENTITIES ACN 079 080 158

HALF‐YEAR FINANCIAL REPORT PERIOD ENDED 31 DECEMBER 2015

AMBERTECH LIMITED AND CONTROLLED ENTITIES ACN 079 080 158

DIRECTORS' REPORT FOR THE HALF‐YEAR ENDED 31 DECEMBER 2015

Your directors submit the financial report of Ambertech Limited (referred to hereafter as the consolidated entity) comprising Ambertech Limited and the entities it controlled for the half‐year ended 31 December 2015.

Directors

The following persons were directors of Ambertech Limited during the whole of the financial half‐year and up to the date of this report, unless otherwise stated.

Peter Francis Wallace Peter Andrew Amos Edwin Francis Goodwin Thomas Robert Amos David Rostil Swift

Review of Operations

A review of the operations of the consolidated entity during the half‐year and the results of these operations are set out in the attached Appendix 4D.

Results of Operations

The consolidated result after providing for income tax for the period ended 31 December 2015 was $491,000, up on the previous corresponding period (2014: $3,000). This improved result is mainly due to increased sales revenue, particularly in our Lifestyle Entertainment segment. Revenue for the period was $28,832,000 (2014: $26,875,000). Further information on the operating results are included in the attached Appendix 4D.

Dividend

There were no dividends paid or declared during the half‐year ended 31 December 2015.

Rounding of Amounts

The company is an entity to which Class Order 98/100 applies and, in accordance with this class order, amounts in this report and the financial report have been rounded off to the nearest thousand dollars unless otherwise indicated.

Auditor's Independence Declaration

The auditor's independence declaration under section 307C of the Corporations Act 2001 is set out on page 2.

Signed in accordance with a resolution of directors.

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P F Wallace Chairman of Directors

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P A Amos Managing Director

Dated this 22nd day of February 2016 Sydney

Tel: +61 2 9251 4100 Level 11, 1 Margaret St Fax: +61 2 9240 9821 Sydney NSW 2000 www.bdo.com.au Australia

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DECLARATION OF INDEPENDENCE BY TIM SYDENHAM TO THE DIRECTORS OF AMBERTECH LIMITED

As lead auditor for the review of Ambertech Limited for the half-year ended 31 December 2015, I declare that, to the best of my knowledge and belief, there have been:

1. No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review; and

2. No contraventions of any applicable code of professional conduct in relation to the review.

This declaration is in respect of Ambertech Limited and the entities it controlled during the period.

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Tim Sydenham Partner

BDO East Coast Partnership

Sydney, 22 February 2016

BDO East Coast Partnership ABN 83 236 985 726 is a member of a national association of independent entities which are all members of BDO Australia Ltd ABN 77 050 110 275, an Australian company limited by guarantee. BDO East Coast Partnership and BDO Australia Ltd are members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professional Standards Legislation, other than for the acts or omissions of financial services licensees.

AMBERTECH LIMITED AND CONTROLLED ENTITIES

ACN 079 080 158

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE HALF‐YEAR ENDED 31 DECEMBER 2015

	31‐Dec‐15	31‐Dec‐14
	$'000	$'000
Revenues	28,832	26,875
Cost of sales	(20,005)	(18,956)
Gross Profit	8,827	7,919
Other income	‐	‐
Employee benefits expense	(4,405)	(4,275)
Distribution costs	(733)	(910)
Marketing costs	(901)	(521)
Premises costs	(1,001)	(958)
Travel costs	(246)	(233)
Depreciation and amortisation expense	(136)	(139)
Finance costs	(460)	(440)
Other expenses	(546)	(424)
Profit before income tax	399	19
Income tax benefit/(expense)	92	(16)
Profit after income tax for the half‐year	491	3
Other comprehensive income
Exchange differences on translation of foreign operations	50	25
Total comprehensive income for the half‐year	541	28
Earnings per share
Basic earnings per share (cents)	1.6	0.0
Diluted earnings per share (cents)	1.6	0.0

The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes.

AMBERTECH LIMITED AND CONTROLLED ENTITIES

ACN 079 080 158

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2015

		31‐Dec‐15	30‐Jun‐15
	Note	$'000	$'000
ASSETS
CURRENT ASSETS
Cash and cash equivalents		1,526	1,521
Trade and other receivables		9,542	7,325
Current tax assets		‐	1
Inventories		14,314	14,906
TOTAL CURRENT ASSETS		25,382	23,753
NON‐CURRENT ASSETS
Plant and equipment		1,266	1,365
Intangible assets		12	16
Deferred tax assets		1,244	1,146
TOTAL NON‐CURRENT ASSETS		2,522	2,527
TOTAL ASSETS		27,904	26,280
LIABILITIES
CURRENT LIABILITIES
Trade and other payables		8,795	9,113
Other financial liabilities		6,063	4,719
Provisions		1,679	1,605
TOTAL CURRENT LIABILITIES		16,537	15,437
NON‐CURRENT LIABILITIES
Provisions		262	278
Other financial liabilities		23	23
Deferred tax liabilities		2	3
TOTAL NON‐CURRENT LIABILITIES		287	304
TOTAL LIABILITIES		16,824	15,741
NET ASSETS		11,080	10,539
EQUITY
Share capital		11,138	11,138
Reserves		17	(33)
Retained earnings		(75)	(566)
TOTAL EQUITY		11,080	10,539

The above consolidated statement of financial position should be read in conjunction with the accompanying notes.

AMBERTECH LIMITED AND CONTROLLED ENTITIES

ACN 079 080 158

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF‐YEAR ENDED 31 DECEMBER 2015

		Foreign
		Currency
	Share	Translation	Retained	Total
	Capital	Reserve	Earnings	Equity
	$'000	$'000	$'000	$'000
Balance as at 1 July 2015	11,138	(33)	(566)	10,539
Profit for the half‐year	‐	‐	491	491
Exchange differences on translation of foreign operations	‐	50	‐	50
Total comprehensive income for the half‐year	‐	**50 **	**491 **	**541 **
Transactions with equity holders:
Costs of share basedpayments	‐	‐	‐	‐
Balance as at 31 December 2015	11,138	17	(75)	11,080
Balance as at 1 July 2014	11,138	13	1,088	12,239
Profit for the half‐year	‐	‐	3	3
Exchange differences on translation of foreign operations	‐	25	‐	25
Total comprehensive income for the half‐year	‐	25	3	28
Transactions with equity holders:
Costs of share basedpayments	‐	‐	‐	‐
Balance as at 31 December 2014	11,138	38	1,091	12,267

The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.

AMBERTECH LIMITED AND CONTROLLED ENTITIES ACN 079 080 158

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE HALF‐YEAR ENDED 31 DECEMBER 2015

	31‐Dec‐15	31‐Dec‐14
	$'000	$'000
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers	29,471	27,981
Payments to suppliers and employees	(28,027)	(26,566)
Interest received	9	11
Interest and other costs of finance paid	(460)	(440)
Income taxes paid	‐	‐
Goods and services tax remitted	(2,258)	(2,008)
Net cash (used in) operating activities	(1,265)	(1,022)
CASH FLOWS FROM INVESTING ACTIVITIES
Payments for purchase of plant and equipment	(32)	(40)
Net cash (used in) investing activities	(32)	(40)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	1,722	5,822
Repayment of borrowings	(399)	(3,641)
Net cash provided by financing activities	1,323	2,181
Net increase in cash and cash equivalents held	26	1,119
Cash and cash equivalents at beginning of period	1,521	511
Effect of exchange rate changes on cash and cash equivalents	(21)	(7)
Cash and cash equivalents at end of period	1,526	1,623

The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.

AMBERTECH LIMITED AND CONTROLLED ENTITIES ACN 079 080 158

NOTES TO AND FORMING PART OF THE FINANCIAL REPORT FOR THE HALF‐YEAR ENDED 31 DECEMBER 2015

NOTE 1: STATEMENT OF COMPLIANCE

This general purpose interim financial report for the half‐year ended 31 December 2015 has been prepared in accordance with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Act 2001, as appropriate for for‐profit oriented entities. Compliance with AASB 134 ensures compliance with International financial Reporting Standard IAS 34 'interim financial reporting'.

This interim financial report does not include all the notes of a type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the most recent annual financial report for the year ended 30 June 2015 and any public announcements made by Ambertech Limited during the interim financial reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.

NOTE 2: SIGNIFICANT ACCOUNTING POLICIES

The accounting policies applied in preparing this financial report for the half‐year ended 31 December 2015 are consistent with those applied in the annual financial report for the year ended 30 June 2015, unless otherwise stated.

NEW, REVISED OR AMENDING ACCOUNTING STANDARDS AND INTERPRETATIONS ADOPTED

The consolidated entity has adopted all of the new, revised or amending Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period.

Any new, revised or amending Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.

Any significant impact on the accounting policies of the consolidated entity from the adoption of these Accounting Standards and Interpretations are disclosed in the relevant accounting policy. The adoption of these Accounting Standards and Interpretations did not have any significant impact on the financial performance or position of the consolidated entity.

NOTE 3: EVENTS SUBSEQUENT TO REPORTING DATE

Since the end of the financial period, a customer of the Company, Dick Smith Electronics, was placed into administration and a Receiver was appointed. For the period ended 31 December 2015, the Directors of the Company have provided for an expected loss of $100,000 relating to outstanding debts with Dick Smith. No other matters have arisen which significantly affected or may significantly affect the operations of the consolidated entity, the results of those operations or the state of affairs of the consolidated entity in future financial years.

AMBERTECH LIMITED AND CONTROLLED ENTITIES ACN 079 080 158

NOTES TO AND FORMING PART OF THE FINANCIAL REPORT FOR THE HALF‐YEAR ENDED 31 DECEMBER 2015

NOTE 4: DIVIDENDS

	31‐Dec‐15	31‐Dec‐14
	$'000	$'000
Recognised as distributions to equity holders
There was no fully franked final dividend paid during the half‐year
ended 31 December 2015.	‐	‐

Declared before the interim report is authorised for issue but not recognised as distributions to equity holders at the end of the period

‐ ‐ Fully franked interim dividend

NOTE 5: SEGMENT REPORTING

TE 5: SEGMENT REPORTING
Total segment revenue Inter‐segment revenue	Professional Lifestyle Entertainment New Zealand Eliminations Total 31‐Dec‐15 31‐Dec‐15 31‐Dec‐15 31‐Dec‐15 31‐Dec‐15 $'000 $'000 $'000 $'000 $'000 9,749 17,229 1,845 ‐ 28,823 9 55 3 (67) ‐
Revenue from external customers	9,758 17,284 1,848 (67) 28,823
Result EBIT Net interest and finance costs Segment EBIT Unallocated/corporate result	(81) 1,245 (94) ‐	1,070
		(211)
		859 (460)
Profit before income tax Income tax expense		399 92
Profit for the half‐year		491

AMBERTECH LIMITED AND CONTROLLED ENTITIES

ACN 079 080 158

NOTES TO AND FORMING PART OF THE FINANCIAL REPORT FOR THE HALF‐YEAR ENDED 31 DECEMBER 2015

NOTE 5: SEGMENT REPORTING (continued)

Total segment revenue Inter‐segment revenue	Professional Lifestyle Entertainment New Zealand Eliminations Total 31‐Dec‐14 31‐Dec‐14 31‐Dec‐14 31‐Dec‐14 31‐Dec‐14 $'000 $'000 $'000 $'000 $'000 10,598 14,705 1,561 ‐ 26,864 ‐ 56 75 (131) ‐	Professional Lifestyle Entertainment New Zealand Eliminations Total 31‐Dec‐14 31‐Dec‐14 31‐Dec‐14 31‐Dec‐14 31‐Dec‐14 $'000 $'000 $'000 $'000 $'000 10,598 14,705 1,561 ‐ 26,864 ‐ 56 75 (131) ‐
Revenue from external customers	10,598 14,761 1,636 (131) 26,864
Result EBIT Net interest and finance costs Segment EBIT Unallocated/corporate result	214 346 (68) ‐	492
		(33)
		459 (440)
Profit before income tax Income tax expense		19 (16)
Profit for the half‐year		3
Total Segment Assets 31 December 2015	Professional Lifestyle Entertainment New Zealand Unallocated/ Corporate $'000 $'000 $'000 $'000 7,969 15,166 2,112 2,657	Total $'000 27,904
30 June 2015	7,527 14,035 1,972 2,746	26,280
Total Segment Liabilities 31 December 2015	3,703 5,234 973 6,915	16,825
30 June 2015	3,251 5,473 1,069 5,948	15,741

AMBERTECH LIMITED AND CONTROLLED ENTITIES

ACN 079 080 158

DIRECTORS' DECLARATION

In the directors' opinion:

• the attached financial statements and notes thereto comply with the Corporations Act 2001 , Australian Accounting Standard AASB 134 ' Interim Financial Reporting ', the Corporations Regulations 2001 and other mandatory professional reporting requirements;

• the attached financial statements and notes thereto give a true and fair view of the consolidated entity's financial position as at 31 December 2015 and of its performance for the financial half‐year ended on that date; and

• there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

Signed in accordance with a resolution of the directors made pursuant to section 303(5) of the Corporations Act 2001

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P F Wallace P A Amos

Chairman of Directors

Managing Director

Dated this 22nd day of February 2016

Sydney

Tel: +61 2 9251 4100 Level 11, 1 Margaret St Fax: +61 2 9240 9821 Sydney NSW 2000 www.bdo.com.au Australia

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INDEPENDENT AUDITOR’S REVIEW REPORT

To the members of Ambertech Limited

We have reviewed the accompanying half-year financial report of Ambertech Limited, which comprises the consolidated statement of financial position as at 31 December 2015, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the half-year ended on that date, notes comprising a statement of accounting policies and other explanatory information, and the directors’ declaration of the consolidated entity comprising the company and the entities it controlled at the half-year’s end or from time to time during the half-year.

Directors’ Responsibility for the Half-Year Financial Report

The directors of the company are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the half-year financial report that is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity , in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of the consolidated entity’s financial position as at 31 December 2015 and its performance for the half-year ended on that date; and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 . As the auditor of Ambertech Limited, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report.

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Independence

In conducting our review, we have complied with the independence requirements of the Corporations Act 2001 . We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of Ambertech Limited, would be in the same terms if given to the directors as at the time of this auditor’s review report.

BDO East Coast Partnership ABN 83 236 985 726 is a member of a national association of independent entities which are all members of BDO Australia Ltd ABN 77 050 110 275, an Australian company limited by guarantee. BDO East Coast Partnership and BDO Australia Ltd are members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professional Standards Legislation, other than for the acts or omissions of financial services licensees.

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Conclusion

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Ambertech Limited is not in accordance with the Corporations Act 2001 including:

• (a) giving a true and fair view of the consolidated entity’s financial position as at 31 December 2015 and of its performance for the half-year ended on that date; and

• (b) complying with Accounting Standard AASB 134 Interim Financial Reporting and Corporations Regulations 2001

BDO East Coast Partnership

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Tim Sydenham Partner

Sydney, 22 February 2016

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