AI assistant
COMMS GROUP LTD — Interim / Quarterly Report 2020
Feb 25, 2020
64618_rns_2020-02-25_c66949cf-17f2-427f-9396-10aeae984f22.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
==> picture [165 x 48] intentionally omitted <==
APPENDIX 4D
Under ASX Listing Rule 4.2A
Current reporting period Prior corresponding period
1 July 2019 to 31 December 2019 1 July 2018 to 31 December 2018
1. RESULTS FOR ANNOUNCEMENT TO THE MARKET
| 1.RESULTS FOR ANNOUNCEMENT TO TH | E MARKET | ||
|---|---|---|---|
| Increase/Decrease | Change% | To $'000 | |
| Revenuefromcontinuing operations | (940) | 9% | 9,721 |
| Profit from ordinary activities after tax attributable to | 2,237 | 301% | 1,495 |
| members | |||
| NetProfitforthe period attributable tomembers | 2,237 | 301% | 1,495 |
Dividend
No dividend has been declared.
Operating and Financial Review
Whilst operating revenues have declined from the prior year, largely a result of one off revenue charges of the prior year, the group’s statutory profit before tax has increased to $1.043m. This reflects the significant restructuring undertaken during the year ended 30 June 2019, resulting in a significantly lower level of operating costs and relatively lower level of cost of goods sold compared to prior years. Underlying EBITDA is $1.343m as shown below.
| $’000 | |
|---|---|
| Statutory profit for theperiod before income tax | 1,043 |
| Add back: Depreciationand amortisation | 393 |
| Finance charges | 53 |
| EBITDA | 1,489 |
| Less: Lease repayments | 198 |
| Add back: Share basedpayments expense | 52 |
| UnderlyingEBITDA | 1,343 |
2. NET TANGIBLE ASSET PER SECURITY
Net tangible assets per ordinary share: 0.4 cents per share (2018: (1.3)). The Group has positive tangible assets as at 31 December 2019.
3. ENTITIES OVER WHICH CONTROL HAS BEEN GAINED DURING THE PERIOD
None
4. OTHER
Additional Appendix 4D disclosure requirements and further information including commentary on significant features of the operating performance, results of segments, trends in performance and other factors affecting the results for the current period are contained in the Half-Year Financial Report 2019 and Press Release.
The consolidated financial statements contained within the Half-Year Financial Report 2019, of which this report is based upon, have been reviewed by BDO.