Financial
Statements

Revenue

1,056,759,702

985,620,392

Cost of revenue

(846,354,708)

(775,718,731)

Other income

117,662,204

117,447,276

Gain/(loss) on financial investments held at fair value through profit or loss

30,198,217

(23,248,043)

Dividend income

2,284,393

11,454,216

Selling and distribution expenses

(85,289,624)

(87,094,441)

General and administrative expenses

(93,811,096)

(86,565,664)

Finance cost and bank charges

(71,453,524)

(60,268,731)

Income tax expense

(606,408)

(1,014,548)

Other comprehensive income

–

–

Net profit attributable to:

Equity holders of the parent

109,628,571

80,611,726

Non-controlling interest

(239,415)

–

Other comprehensive income attributable to:

Equity holders of the parent

–

–

Non-controlling interest

–

–

OPERATING ACTIVITIES

Profit before tax for the year

109,995,564

81,626,274

Adjustments for:

Depreciation of property, plant and equipment

127,652,819

125,452,244

Depreciation of right-of-use assets

12,817,283

12,901,441

Amortization of intangible assets

2,771,323

2,305,776

Provision for employees’ end of service benefits

4,509,467

4,174,135

Impairment loss allowance on trade receivables

816,958

35,862

(Gain)/loss on disposal of property, plant and equipment

(57,874)

186,986

(Gain)/loss on financial investments at FVTPL

(30,198,217)

23,248,043

Dividend income

(2,284,393)

(11,454,216)

Gain arising from change in fair value of biological assets

(61,496,763)

(68,896,232)

Cost of slaughtered animals transferred and disposed

2,610,895

11,754,934

Loss from death of livestock

19,136,416

12,943,460

Finance cost

70,818,199

59,059,143

Operating cash flow before movement in working capital

257,727,002

254,547,438

Changes in:

Inventories

45,791,317

(171,037,747)

Due from related parties

(46,849,470)

(15,333,042)

Trade and other debit balances

(71,802,949)

(30,507,170)

Due to related parties

(55,727)

(10,307,156)

Trade and other credit balances

27,048,539

50,039,051

Employees’ end of service benefit paid

(2,204,108)

(1,163,405)

Finance cost paid

(109,376,594)

(65,847,126)

Finance cost on lease liabilities paid

(635,325)

(1,209,588)

Income tax paid

(580,338)

(813,770)

INVESTING ACTIVITIES

Purchase of property, plant and equipment (i)

(163,751,731)

(340,387,904)

Proceeds from disposal of property, plant and equipment

98,271

297,230

Investment in subsidiary

(6,845,721)

–

Purchase of intangible assets

(2,019,490)

(1,053,570)

Disposal of investment securities

45,890,827

10,693,314

Acquisition of financial investments at fair value through profit or loss

(169,408,782)

(108,006,291)

Dividend received

2,284,393

9,998,975

Net movement in biological assets

34,793,498

21,728,112

FINANCING ACTIVITIES

Net movement in financing

185,507,618

485,878,758

Principal elements of lease payments

(15,207,146)

(10,818,480)

Change in non-controlling interest

251,375

–

Dividend paid

(1,464,642)

(92,036,421)

Net movement in restricted cash

14,070,062

11,337,223

Net increase/(decrease) in cash and cash equivalents

23,260,879

(4,001,569)

Cash and cash equivalents at beginning of the year

(56,626,340)

(52,624,771)