Financial Statement - Aztech Group Ltd - Investor Relations

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7. Net asset value (for the issuer and group) per ordinary share based on issued share capital of the issuer at the end of the (a) current financial period reported on; and (b) immediately preceding financial year. GROUP COMPANY 31.03.12 31.12.11 31.03.12 31.12.11 (in cents) (in cents) (in cents) (in cents) Net asset value per ordinary share 16.51 16.48 16.36 16.33 Net tangible asset value per ordinary share 15.74 15.69 16.36 16.33 The Group’s and the Company’s net assets value per ordinary share as at 31 March 2012 and 31 December 2011 have been computed based on the share capital of 486,275,836 shares. 8. A review of the performance of the group, to the extent necessary for a reasonable understanding of the group's business. It must include a discussion of the following:- (a) any significant factors that affected the turnover, costs, and earnings of the group for the current financial period reported on, including (where applicable) seasonal or cyclical factors; and (b) any material factors that affected the cash flow, working capital, assets or liabilities of the group during the current financial period reported on. Review of Group’s performance Financial Summary $’million 2011 1Q 2011 2Q 2011 3Q 2011 4Q 2012 1Q Revenue Electronics ODM/OEM 14.06 15.69 10.58 8.72 7.95 Contract Manufacturing 20.51 34.41 28.39 19.04 19.89 Retail Distribution 7.20 5.19 5.93 5.81 7.00 Sub-total 41.77 55.29 44.90 33.57 34.84 Materials Supply 0.09 0.77 11.21 42.56 33.59 Marine logistic 0.05 0.30 0.14 - 0.41 Others 1.87 0.89 0.60 1.44 1.04 Total Revenue 43.78 57.25 56.85 77.57 69.88 Gross Profit Margin % 7.0% 11.0% 5.9% 6.2% 8.1% Net profit (loss) (21.01) 1.39 (3.80) (1.55) 2.02 Net Profit Margin % n.a. 2.4% n.a. n.a. 2.9% Revenue by Region $’million 1Q 2011 2Q 2011 3Q2011 4Q2011 1Q 2012 Europe 23.89 36.34 28.54 20.88 22.36 North and South America 7.92 10.04 6.55 3.88 3.45 Asia Pacific 9.61 8.80 19.36 52.31 43.68 Others 2.36 2.07 2.40 0.50 0.39 Total 43.78 57.25 56.85 77.57 69.88 Page 14 of 16
Results for 1Q2012 Revenue Turnover of the Group for 1Q2012 increased by 59.6% to $69.88 million over the same period last year which was attributable to the contract of supplying infrastructure materials. The Electronics revenue was decreased by 16.6% to $34.84 million due to weaker demand from customers. The gross profit grew by 85.6% to $5.65 million in 1Q2012 (1Q2011: $3.04 million) and the gross profit margin increased to 8.1% in 1Q2012 compared to 7.0% in 1Q2011. The increase was attributable to the varying customer and product mixes in Electronics segment and improvement in Materials and Marine segment. Other operating income increased from $0.91 million in 1Q2011 to $2.91 million in 1Q2012, arising mainly from the foreign exchange gain of $1.89 million. The total operating costs rose by 11.0% to $6.06 million (1Q2011: $5.46 million) mainly due to the increased general administrative expenses. Net profit attributable to shareholders for the period was $2.02 million, compared to net loss of $21.01 million in the previous year. Earnings per share for 1Q2012 were recorded at 0.42 cents (1Q2011: Loss per share: 4.30 cents). Financial Resources As at 31 March 2012, the Group has net current assets of $26.70 million, total assets of $157.46 million and shareholders’ funds of $80.27 million. During the period, the Group generated positive cash inflow of $2.11 million (1Q2011: $3.09 million) from operations. The cash and bank balances reduced by 27.2% primarily because of net repayment of bank borrowings of $10.87 million and purchase of investment bond of $1.00 million. The total bank borrowings reduced by 22.3% to $43.56 million while other financial assets increased by 101.0% to $1.99 million as at 31 March 2012. The overall financial position of the Group remained sound with a current ratio of 1.4 (FY2011: 1.3) and net gearing of 0.2 (FY2011: 0.2). With cash balance of $29.06 million together with anticipated cash flow from operations and borrowings available under existing credit facilities, the Group will have sufficient funds to support its operations and capital expenditure requirements. 9. Where a forecast, or a prospect statement, has been previously disclosed to shareholders, any variance between it and the actual results. The 1Q2012 financial results are in line with the prospect statement made in 4Q2011 announcement dated 14 February 2012. 10. A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months. The overall global economy remains challenging. The currency fluctuation, increasing oil price and costs pressure will remain a recurring theme for 2012. Barring any unforeseen circumstances, the Group is cautiously optimistic of opportunities and growth in the LED lighting industry and infrastructure materials supply market. Page 15 of 16
Page 1 and 2: First Quarter ended 31 March 2012 F
Page 3 and 4: 1(b)(i) A balance sheet (for the is
Page 5 and 6: 1(b)(ii) Aggregate amount of group'
Page 7 and 8: v) an amount of $2,000,000 extended
Page 9 and 10: 3 months ended 3 months ended 31.03
Page 11 and 12: Share capital Treasury shares Warra
Page 13: 1 (d)(iv) Statement showing all sal

Financial Statement - Aztech Group Ltd - Investor Relations

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