CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2021 FINANCIALS 112 113 Group Note 2021 2020 $’000 $’000 Revenue 31 2,625,853 2,108,426 Cost of sales (1,648,140) (1,279,484) Gross profit 977,713 828,942 Other income 32 87,979 171,990 Administrative expenses (501,458) (487,852) Other operating expenses (236,258) (752,782) Impairment loss on other receivables 9 (6,104) (323,942) Impairment loss on debt investment 10 – (288,000) Profit/(Loss) from operating activities 321,872 (851,644) Finance income 36,206 168,618 Finance costs (237,823) (262,009) Net finance costs 32 (201,617) (93,391) Share of after-tax profit of associates 30,713 37,976 Share of after-tax profit/(loss) of joint ventures 76,779 (883,752) Profit/(Loss) before tax 227,747 (1,790,811) Tax expense 33 (87,908) (87,702) Profit/(Loss) for the year 32 139,839 (1,878,513) Profit/(Loss) attributable to owners of the Company: – Ordinary shareholders 84,753 (1,930,295) – Preference shareholders 12,904 12,904 97,657 (1,917,391) Non-controlling interests 42,182 38,878 Profit/(Loss) for the year 139,839 (1,878,513) Earnings per share – Basic 34 9.3 cents (212.8) cents – Diluted 34 9.3 cents (212.8) cents CONSOLIDATED STATEMENT OF PROFIT OR LOSS YEAR ENDED 31 DECEMBER 2021 The accompanying notes form an integral part of these financial statements. Group Note 2021 2020 $’000 $’000 Profit/(Loss) for the year 139,839 (1,878,513) Other comprehensive income Items that will not be reclassified to profit or loss: Defined benefit plan remeasurements 4,582 (3,810) Net change in fair value of equity investments at FVOCI 3,418 (43,077) 8,000 (46,887) Items that are or may be reclassified subsequently to profit or loss: Effective portion of changes in fair value of cash flow hedges 473 (2,952) Exchange differences on hedges of net investment in foreign operations (4,939) 8,665 Exchange differences on monetary items forming part of net investments in foreign operations (20,494) 14,029 Exchange differences reclassified to profit or loss on disposal of foreign operations – 2,032 Share of translation differences of equity-accounted investees 25,570 13,192 Share of other comprehensive income of equity-accounted investees 4,637 – Translation differences arising on consolidation of foreign operations (18,698) 62,320 (13,451) 97,286 Total other comprehensive income for the year, net of tax 33 (5,451) 50,399 Total comprehensive income for the year 134,388 (1,828,114) Total comprehensive income attributable to: Owners of the Company 50,010 (1,882,242) Non-controlling interests 84,378 54,128 Total comprehensive income for the year 134,388 (1,828,114) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME YEAR ENDED 31 DECEMBER 2021 The accompanying notes form an integral part of these financial statements.
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