Page 5 Dhofar Poultry Company SAOG Statement of cash flows for the year ended 31 December 2016 RO 2015 RO (restated refer note 26) Note 8,409,150 (8, 180,613) 228,537 (229,581) (1,044) 7,098,805 7.888,059) (789,254) (61.989 (851 243) 21 5 5(h) 5 (430,423) (34,242) (546,333) (464,665) 3.000 (543,333) CASH FLOWS FROM OPERATING ACTIVITIES Cash receipts from customers Cash paid towards expenses Cash used in operations Finance charges Net cash used in operating activities CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property, plant and equipment Purchase of intangible asset Proceeds from disposal of plant and equipment Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Repayment of term loans Receipt of term loans Bank borrowings - loan against trust receipts Net cash used in financing activities Net change in cash and cash equivalents during the year Cash and cash equivalents at the beginning of the voar Cash and cash equivalents at the end of the year Cash and cash equivalents at the end of the year comprise of Bank balances and cash (note 8) Bank overdraft (note 11) Cash and cash equivalents at the end of the year (773,286) 12 12 11 968,811 195,525 (436,678) 1.756,270 313,098 1.632,690 (238,114) (270,184) (1,547,383) (1.785,497) (1,817,567) (1.547 383) 21,943 (1,839,510) (1,817,567) 8,837 (1,556,220) (1.547 383) The accompanying notes on pages 6 to 24 form an integral part of these financ al statements. Auditor's report is set forth on page 1 Page 4 Dhofar Poultry Company SAOG Statement of changes in equity for the year anded 31 December Share capital RO Special reserve RO Legal reserve RO Accumulated losses RO Total RO 4,000,000 137 033 172,317 (1,045,822) Balance at 1 January 2015 3.263,528 (206,843) (206,843) Not loss and total comprehensive income for the year (restated - refer note 26) Transfer to legal reserve At 31 December 2015 (rostated - refer note 26) 4.000.000 137,033 172,317 (1.252.665) 3,056,685 4,000,000 137.033 172,317 (1.252,665) 3,056,685 375,690 375,690 Balance at 1 January 2016 (rotated - refer note 26) Net profit and total comprehensive income for the year Transfer to legal reserve At 31 December 2016 37,569 (37,569) 4,000,000 137,033 209.886 (914,544) 3,432,375 The accompanying notes on pages 6 to 24 form an integral part of these Francia statoments Auditor's report is set forth on page 1 Page 3 Dhofar Poultry Company SAOG Statement of profit or loss and other comprehensive income for the year ended 31 December Note 2016 RO 2015 RO (restated- refer note 26) Revenue Cost of sales Gross profit 17 9,828,443 (7,946,890) 1,881,553 16 19 20 103,782 (645,771) (680,089) 7.290,216 (6.290,897) 999,319 26,617 (543,637) (655494) (173,195) (61.989) 21 Other income General and administration Selling and distribution Profit / (loss) from operations Finance costs Profit/(1058) Defore taxation Taxation Net profit/(los) and total comprehensive Income/(loss) for the year Basic earnings/(loss) per share 659,475 (229,581) 429,894 (54,204) (235,184) 28,341 14 375,690 (206,843. 23 (a) 0.009 (0.005) The accompanying notes on pagos 6 to 24 form an integral part of those financial statements Auditors report is set forth on page 1. Page 2 Dhofar Poultry Company SAOG Statement of financial position As at 31 December Note 2016 RO 2015 RO frastated - refer note 26) 6,489,681 ASSETS Non-current assets Property, plant and equipment Intangible asset Deferred tax asset Total non-current assets Sth) 14 6,385,349 34,242 12.706 6,432,297 66,910 6,556,571 Current assets Inventories and biological assets Trade and other receivables Bank balances and cash Total current assets 2,880,695 3,162,170 21.943 6,064,800 2,808,893 1.657,120 8837 4.474 850 8 Total assets 12.497 105 11.031.421 EQUITY AND LIABILITIES Equity Share capital Legal reserve Special reserve Accumulated losses Total equity 9 10 al 10 (6) 4,000,000 209.886 137,033 (914,544) 3,432,375 4,000,000 172.317 137.033 (1.252,665 3.056.685 Liabilities Non-current liabilities Non-current portion of term loans Employees' end of service benefits Total non-current liabilities 12 18 (c) 783,462 110,565 894,027 2.656,748 120 777 2.777.525 Current liabilities Bank borrowings Current portion of term loans Trade and other payables Taxation Total current liabilities 11 12 13 14 3,359,533 1,873,357 2,932,538 5,275 8.170.703 2, 107.432 773.357 2,311.147 5,275 5.197211 Total liabilities 9,064,730 7,974.736 Total equity and liabilities 12.497 105 11.031421 Net assets per share 23.b) 0.086 0.076 These financial statements were approved and authorized for ssue by the Board of Directors on _26 February 2017 and were signed on their behall by Salim Abdullah Al Awadh Salim Taman Musallam Al Mashani Chairman Chief Executive Officer The accompanying eates on pugen 6 to 24 form an integral part of these financial statements Audhor's report set forth on bage C. Activity : Inventory Turnover , Receivables Turnover, Payables Turnover D. Profitability : ROCE, Gross Profit Margin, E/P 2. Prepare comparative Balance Sheet (Horizontal Analysis per item) for the years 2015-2016 and interpret the result and discuss your assessment on the company performance. Page 5 Dhofar Poultry Company SAOG Statement of cash flows for the year ended 31 December 2016 RO 2015 RO (restated refer note 26) Note 8,409,150 (8, 180,613) 228,537 (229,581) (1,044) 7,098,805 7.888,059) (789,254) (61.989 (851 243) 21 5 5(h) 5 (430,423) (34,242) (546,333) (464,665) 3.000 (543,333) CASH FLOWS FROM OPERATING ACTIVITIES Cash receipts from customers Cash paid towards expenses Cash used in operations Finance charges Net cash used in operating activities CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property, plant and equipment Purchase of intangible asset Proceeds from disposal of plant and equipment Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Repayment of term loans Receipt of term loans Bank borrowings - loan against trust receipts Net cash used in financing activities Net change in cash and cash equivalents during the year Cash and cash equivalents at the beginning of the voar Cash and cash equivalents at the end of the year Cash and cash equivalents at the end of the year comprise of Bank balances and cash (note 8) Bank overdraft (note 11) Cash and cash equivalents at the end of the year (773,286) 12 12 11 968,811 195,525 (436,678) 1.756,270 313,098 1.632,690 (238,114) (270,184) (1,547,383) (1.785,497) (1,817,567) (1.547 383) 21,943 (1,839,510) (1,817,567) 8,837 (1,556,220) (1.547 383) The accompanying notes on pages 6 to 24 form an integral part of these financ al statements. Auditor's report is set forth on page 1 Page 4 Dhofar Poultry Company SAOG Statement of changes in equity for the year anded 31 December Share capital RO Special reserve RO Legal reserve RO Accumulated losses RO Total RO 4,000,000 137 033 172,317 (1,045,822) Balance at 1 January 2015 3.263,528 (206,843) (206,843) Not loss and total comprehensive income for the year (restated - refer note 26) Transfer to legal reserve At 31 December 2015 (rostated - refer note 26) 4.000.000 137,033 172,317 (1.252.665) 3,056,685 4,000,000 137.033 172,317 (1.252,665) 3,056,685 375,690 375,690 Balance at 1 January 2016 (rotated - refer note 26) Net profit and total comprehensive income for the year Transfer to legal reserve At 31 December 2016 37,569 (37,569) 4,000,000 137,033 209.886 (914,544) 3,432,375 The accompanying notes on pages 6 to 24 form an integral part of these Francia statoments Auditor's report is set forth on page 1 Page 3 Dhofar Poultry Company SAOG Statement of profit or loss and other comprehensive income for the year ended 31 December Note 2016 RO 2015 RO (restated- refer note 26) Revenue Cost of sales Gross profit 17 9,828,443 (7,946,890) 1,881,553 16 19 20 103,782 (645,771) (680,089) 7.290,216 (6.290,897) 999,319 26,617 (543,637) (655494) (173,195) (61.989) 21 Other income General and administration Selling and distribution Profit / (loss) from operations Finance costs Profit/(1058) Defore taxation Taxation Net profit/(los) and total comprehensive Income/(loss) for the year Basic earnings/(loss) per share 659,475 (229,581) 429,894 (54,204) (235,184) 28,341 14 375,690 (206,843. 23 (a) 0.009 (0.005) The accompanying notes on pagos 6 to 24 form an integral part of those financial statements Auditors report is set forth on page 1. Page 2 Dhofar Poultry Company SAOG Statement of financial position As at 31 December Note 2016 RO 2015 RO frastated - refer note 26) 6,489,681 ASSETS Non-current assets Property, plant and equipment Intangible asset Deferred tax asset Total non-current assets Sth) 14 6,385,349 34,242 12.706 6,432,297 66,910 6,556,571 Current assets Inventories and biological assets Trade and other receivables Bank balances and cash Total current assets 2,880,695 3,162,170 21.943 6,064,800 2,808,893 1.657,120 8837 4.474 850 8 Total assets 12.497 105 11.031.421 EQUITY AND LIABILITIES Equity Share capital Legal reserve Special reserve Accumulated losses Total equity 9 10 al 10 (6) 4,000,000 209.886 137,033 (914,544) 3,432,375 4,000,000 172.317 137.033 (1.252,665 3.056.685 Liabilities Non-current liabilities Non-current portion of term loans Employees' end of service benefits Total non-current liabilities 12 18 (c) 783,462 110,565 894,027 2.656,748 120 777 2.777.525 Current liabilities Bank borrowings Current portion of term loans Trade and other payables Taxation Total current liabilities 11 12 13 14 3,359,533 1,873,357 2,932,538 5,275 8.170.703 2, 107.432 773.357 2,311.147 5,275 5.197211 Total liabilities 9,064,730 7,974.736 Total equity and liabilities 12.497 105 11.031421 Net assets per share 23.b) 0.086 0.076 These financial statements were approved and authorized for ssue by the Board of Directors on _26 February 2017 and were signed on their behall by Salim Abdullah Al Awadh Salim Taman Musallam Al Mashani Chairman Chief Executive Officer The accompanying eates on pugen 6 to 24 form an integral part of these financial statements Audhor's report set forth on bage C. Activity : Inventory Turnover , Receivables Turnover, Payables Turnover D. Profitability : ROCE, Gross Profit Margin, E/P 2. Prepare comparative Balance Sheet (Horizontal Analysis per item) for the years 2015-2016 and interpret the result and discuss your assessment on the company performance