SBS TRANSIT LTD ANNUAL

Financial Statements

SBS TRANSIT LTD Company Registration No.: 199206653M Half-Year 2020 Financial Statements and Dividend Announcement The Board of Directors announces the unaudited results for the Half-Year ended 30 June 2020. 1 GROUP INCOME STATEMENT (i) Group 1st Half 1st Half Incr/ 2020 2019 (Decr) $'000 $'000 % Revenue 6 03,225 7 09,207 ( 14.9) Staff costs 2 95,894 3 55,481 ( 16.8) Repairs and maintenance costs 1 01,734 8 9,676 1 3.4 Fuel and electricity costs 4 7,609 8 9,106 ( 46.6) Premises costs 2 0,570 2 4,042 ( 14.4) Depreciation expense 5 2,030 5 1,483 1 .1 Other operating costs 5 3,176 4 2,583 2 4.9 Total operating costs 5 71,013 6 52,371 ( 12.5) Operating profit 3 2,212 5 6,836 ( 43.3) Net income from investments 1 31 1 02 2 8.4 Finance costs ( 1,825) ( 2,172) ( 16.0) Profit before taxation 3 0,518 5 4,766 ( 44.3) Tax credit (expense) 2 ,064 ( 9,915) NM Profit attributable to shareholders 3 2,582 4 4,851 ( 27.4) Operating (Loss) Profit before COVID-19 Government reliefs (29,365) 56,836 NM COVID-19 Government reliefs 61,577 - NM Operating Profit after COVID-19 Government reliefs 32,212 56,836 (43.3) Please refer to paragraph 14 for a detailed explanation of the Group's financial performance. (ii) Included in the determination of net profit are the following items : Group 1st Half 1st Half Incr/ 2020 2019 (Decr) $'000 $'000 % After debiting :- Provision for stock obsolescence 6 ,790 - NM Provision for doubtful debts 4 23 - NM NM – Not meaningful Certain comparative figures have been reclassified to conform to current period's presentation. Page 1 of 14 2 STATEMENTS OF FINANCIAL POSITION Group Company 30 Jun 31 Dec 30 Jun 31 Dec 2020 2019 2020 2019 $'000 $'000 $'000 $'000 ASSETS Current assets Short-term deposits and bank balances 9 4,547 3 1,463 8 9,237 3 0,280 Trade receivables 1 27,594 1 67,433 1 26,105 1 64,063 Other receivables and prepayments 9 0,768 6 7,748 3 71,165 3 17,693 Inventories 1 26,135 1 30,571 9 8,167 1 04,126 Total current assets 4 39,044 3 97,215 6 84,674 6 16,162 Non-current assets Subsidiary - - 5 ,000 5 ,000 Prepayments 6 ,008 3 ,385 5 ,821 3 ,327 Net Investment on sub-lease - non-current 2 71 - 2 71 - Vehicles, premises and equipment 6 03,259 6 44,165 5 84,944 6 25,013 Right-of-use assets 6 4,812 7 0,980 6 4,812 7 0,980 Deferred tax assets 2 7,610 2 1,540 - - Total non-current assets 7 01,960 7 40,070 6 60,848 7 04,320 Total assets 1 ,141,004