PACIFIC CURRENT GROUP LIMITED — Interim / Quarterly Report 2018

Feb 27, 2018

Rule 4.2A

Appendix 4D

1. Half yearly report

Name of entity

Pacific Current Group Limited

ABN:	39 006 708 792
Report for the half-year ended	31 December 2017
Previous corresponding period
is the financial year ended	30 June 2017
and half year ended	31 December 2016

2. Results for announcement to the market

A$’000s Revenues_(item 2.1)* up/~~down~~ 1.72%to 20,096 Profit after tax attributable to members (_item 2.2) up/~~down~~ 2,201%to 89,292 Net profit for the period attributable to members_(item_ 2.3) up/~~down~~ 2,201%to 89,292	A$’000s Revenues_(item 2.1)* up/~~down~~ 1.72%to 20,096 Profit after tax attributable to members (_item 2.2) up/~~down~~ 2,201%to 89,292 Net profit for the period attributable to members_(item_ 2.3) up/~~down~~ 2,201%to 89,292
Dividends(item 2.4) The directors of the Company did not declare an interim dividend on ordinary shares in respect ofthehalf-yearended 31 December 2017.
Record date for determining entitlements to the dividend (item 2.5)

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Brief explanation of any of the figures reported above necessary to enable the figures to be understood (item 2.6):

The Company generated a net profit of $89.5 million for the half year ended 31 December 2017. The corresponding profit for the prior corresponding period was $6.1m. The results during the period reflected the consolidation of the Trust into the Company. The comparatives were restated to reflect consolidation as recommended by ASIC.

The underlying profit of the Company as reported in the 31 December 2017 half year report has increased compared to the 31 December 2016 half year result due to the following non-recurring and non-cash items as shown in the table below. The most significant item was the gain on sale of IML of $104.3m which was based on the historic carrying value.

Net profit after tax attributable to the Group Add/(deduct): Items that are non-recurring/non-cash - Gain on sale of investments (IML)/(2016: Aubrey) - Income tax expense on the sale of IML - Take-up of liability relating to S class shares issued by Aperio - Loss on redemption and cancellation of X-RPUs (2016: gain on revaluation of X-RPUs¹) - Foreign currency losses/(gains) - Amortisation of identifiable intangible assets - Fair value adjustments² - Long term incentives amortisation - Legal and consulting expenses in relation to sale of IML, Simplification and X-RPU restructuring - Other expenses - Impairment of investments - Loss on revaluation of investment held at FVTPL - Deal costs - Share of non-controlling interests on the non- recurring/non-cash items - Back-out of net Income tax (benefit) Total underlying profit attributable to members of the parent Underlying earnings per share Statutory earnings per share	31 December 2017 31 December 2016 (restated) $ $ 89,511,671 6,109,452
	(104,292,732) (486,917) 17,923,226 146,075 2,847,823 - 844,242 (15,307,855) 1,968,185 (356,894) 609,842 1,071,233 442,034 901,814 648,687 523,733 713,725 - 426,957 - - 11,220,471 - 7,677,396 - 60,089 (219,021) (3,894,563) (2,081,474) (1,821,298)
	(80,168,506) (266,716)
	9,343,165 5,842,736
	19.61 20.77 187.42 13.80

¹This amount was the gain on revaluation of the X-RPU debt instrument which was required to be fair valued at 31 December 2016. ²These were the interest amortisation of debt instruments that were discounted to their net present value.

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3. Net tangible assets per security (item 3)

Net tangible asset backing per ordinary security

(item 3)
Current period	Previous corresponding period
535¢	478¢

4. Details of entities over which control has been gained or lost during the period: (item 4)

Control gained over entities

Name of entities (item 4.1)

NA

Date(s) of gain of control (item 4.2)

Loss of control of entities

NA

Name of entities (item 4.1)

Date(s) of loss of control (item 4.2)

Contribution to net profit from discontinuing operations after tax by the controlled entities to the date(s) in the current period when control was lost (item 4.3).

Contribution to net profit from net gain on discontinued operation (net of transaction cost and income tax expense) in the current period when control was lost (item 4.3).

Contribution to net profit from discontinuing operations after tax of the controlled entities for the whole of the previous corresponding period (item 4.3)

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5. Dividends (item 5)

5. Dividends(item 5)
Final dividend – year ended 30 June 2017	Date of payment	Total amount of dividend
	30 September 2017	8,575,619

Amount per security

Amount per security
	Amount per security	Franked amount per security at % tax	Amount per security of foreign sourced dividend
Interim dividend:Current period Previous period	-	-	-
	18.00¢	100%	-¢

Interim dividend on all securities

Interim dividend on all securities
Ordinary securities_(each class separately) Preference securities(each class separately) Other equity instruments(each class separately)_ Total	Current period $A'000	Previous corresponding Period-$A'000
	- - -	- - -
	-	-

6. Details of dividend or distribution reinvestment plans in operation are described below (item 6) :

N/A

The last date(s) for receipt of election notices for participation in the dividend or distribution reinvestment plan N/A

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6. The information provided in the Appendix 4D is based on the interim financial report (attached), which has been prepared in accordance with Australian accounting standards (item 8) .

7. The interim financial report is not subject to audit dispute or qualification. (item 9)

P eriodic Disclosure Requirements Compliance Statement

• 1 An interim report for the half-year ended 31 December 2017 is provided with the Appendix 4D information.

• 2 The interim report has been prepared in accordance with AASB 134 Interim Financial Reporting.

• 3 Except where noted in the report, the interim report and information provided in Appendix 4D uses the same accounting policies as those applied at 30 June 2017, except mandatory changes under the Australian equivalents to International Financial Reporting Standards (A-IFRS).

• 4 The Appendix 4D information gives a true and fair view of the matters disclosed in the interim financial report.

• 5 The Appendix 4D information is based on the interim financial report, which has been subject to review.

• 6 The audit report or review by the auditor is provided with the interim financial report.

Sign here: Print name: Joseph Ferragina Date: 28 February 2017 (Chief Operating Officer/Chief Financial Officer)

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