72
73
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
asat 31december 2012
balance
sheets
For the financial year ended 31december 2012
Consolidatedstatement
ofcomprehensive income
Group
Note
2012
2011
$
$
Revenue
5
98,244,113
81,147,126
Cost of goods sold
(73,160,150)
(57,637,043)
Gross profit
25,083,963
23,510,083
Other operating income
6
69,958,287
332,870
Administrative expenses
(9,708,158)
(11,878,099)
Finance costs
(121,913)
(20,621)
Other operating expenses
7
(999,821)
(1,067,626)
Share of results of associates
586,800
(246,906)
Profit before tax
8
84,799,158
10,629,701
Income tax expense
9
(3,208,000)
(2,998,918)
Profit for the year
81,591,158
7,630,783
Other comprehensive income, net of tax
Reversal/(loss) on fair value changes of available-
for-sale investment
7,500,000
(7,500,000)
Total comprehensive income for the year attributable
to owners of the Company
89,091,158
130,783
Earnings per share
10
Basic (in cents)
11.5
1.1
Diluted (in cents)
8.3
0.8
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Group
Company
Note
2012
2011
2012
2011
$
$
$
$
Non-current assets
Property, plant and equipment
11 2,821,924 3,841,786
9,610
19,894
Goodwill
12 7,551,331 7,551,331
–
–
Investment in subsidiaries
13
–
– 20,000,000 20,000,000
Investment in associates
14 32,019,623 10,358,423 32,030,623 9,616,388
Available-for-sale investment
15
– 20,118,028
– 20,118,028
Deferred tax assets
16
392,000
–
–
–
42,784,878 41,869,568 52,040,233 49,754,310
Current assets
Gross amount due from customers for
contract work-in-progress
17 25,844,908 31,561,117
–
–
Inventories
18 19,162,177 6,357,410
–
–
Trade and other receivables
19 19,679,741 11,753,144
167,652
22,223
Prepaid operating expenses
44,531
56,472
16,637
9,089
Amounts due from subsidiaries
20
–
–
2,700,000
600,000
Pledged deposits
21 11,067,427 6,500,000
–
–
Cash and short-term deposits
22 173,901,562 169,276,813 167,789,758 142,122,891
249,700,346 225,504,956 170,674,047 142,754,203
Less : Current liabilities
Gross amount due to customers for
contract work-in-progress
17 1,844,795 7,118,091
–
–
Loans and borrowings
23 3,678,049
–
–
–
Trade and other payables
24 14,746,029 27,131,707 3,139,566 1,564,475
Deferred gain on disposal of
subsidiary
25
– 58,237,148
– 141,941,392
Tax payable
4,073,458 3,096,321
4,656
9,161
24,342,331 95,583,267 3,144,222 143,515,028
