|
| Annual |
Half Yearly |
 |
 |
COMPUTER STATIONERY INDUSTRY SAOG |
|
| CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31ST DECEMBER 2009 |
|
Group |
Parent Company |
Group |
Parent Company |
|
2009 |
2009 |
2008 |
2008 |
|
RO |
RO |
RO |
RO |
| ASSETS |
|
|
|
|
| Non-current assets |
|
|
|
|
| Property, plant and equipment |
2,478,810 |
906,399 |
2,461,270 |
916,927 |
| Intangible asset |
233,750 |
|
243,950 |
|
| Investment in subsidiary |
|
640,000 |
|
640,000 |
| Total Non-current assets |
2,712,560 |
1,546,399 |
2,705,220 |
1,556,927 |
| Current assets |
|
|
|
|
| Inventories |
643,504 |
187,755 |
1,079,409 |
380,178 |
| Accounts and other receivables |
1,325,710 |
715,106 |
1,305,860 |
500,233 |
| Cash in hand and at bank |
23,803 |
15,755 |
34,368 |
21,651 |
| Total Current assets |
1,993,018 |
918,616 |
2,419,637 |
902,062 |
|
|
|
|
|
| Total assets |
4,705,578 |
2,465,015 |
5,124,857 |
2,458,989 |
| EQUITY AND LIABILITIES |
|
|
|
|
| Capital and reserves |
|
|
|
|
| Share capital |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| Legal reserve |
318,573 |
310,645 |
293,064 |
298,513 |
| General reserve |
75,000 |
- |
70,000 |
- |
| Retained earnings |
542,388 |
355,518 |
617,819 |
446,336 |
|
1,935,961 |
1,666,163 |
1,980,883 |
1,744,849 |
|
|
|
|
|
| Non-current liabilities |
|
|
|
|
| Government term loans and deferred income |
- |
- |
16,300 |
16,300 |
| Other term loans |
385,027 |
40,000 |
460,843 |
11,105 |
| Deferred tax |
101,240 |
29,562 |
104,452 |
32,858 |
| Employee end of service benefits |
167,828 |
83,686 |
153,223 |
76,872 |
| Total Non-current liabilities |
654,095 |
153,248 |
734,818 |
137,135 |
|
|
|
|
|
| Current liabilities |
|
|
|
|
| Current portion of Government term loans and deferred income |
16,300 |
16,300 |
16,300 |
16,300 |
| Current portion of other term loans |
249,964 |
33,105 |
336,839 |
38,892 |
| Taxation |
19,083 |
3,681 |
44,883 |
15,900 |
| Accounts and other payables |
497,428 |
93,666 |
671,835 |
143,497 |
| Bank borrowings |
1,332,747 |
498,851 |
1,339,299 |
362,416 |
| Total Current liabilities |
2,115,522 |
645,603 |
2,409,156 |
577,005 |
|
|
|
|
|
| Total liabilities |
2,769,617 |
798,851 |
3,143,974 |
714,140 |
|
|
|
|
|
| Total equity and liabilities |
4,705,578 |
2,465,015 |
5,124,857 |
2,458,989 |
|
|
|
|
|
| Net assets |
1,935,961 |
1,666,163 |
1,980,883 |
1,744,849 |
|
|
|
|
|
| Net assets per share |
0.194 |
0.167 |
0.198 |
0.174 |
|
|
|
|
|
| These financial statements were approved and authorised for issue by the Board of Directors on 7 February 2010 and signed on their behalf by |
|
|
|
|
|
| CHAIRMAN |
|
|
DIRECTOR |
|
| COMPUTER STATIONERY INDUSTRY SAOG |
| CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2009 |
|
Group |
Parent Company |
Group |
Parent Company |
|
|
2009 |
2009 |
2008 |
2008 |
|
RO |
RO |
RO |
RO |
|
|
|
|
|
| Revenue |
3,348,843 |
1,176,054 |
3,859,457 |
1,368,652 |
| Cost of sales |
(2,524,150) |
(883,601) |
(2,761,672) |
(947,896) |
|
|
|
|
|
| Gross profit |
824,693 |
292,453 |
1,097,785 |
420,756 |
| Other income |
36,430 |
25,024 |
62,212 |
40,310 |
|
|
|
|
|
| Total income |
861,123 |
317,477 |
1,159,997 |
461,066 |
| Expenses |
|
|
|
|
| General and administrative expenses |
(492,805) |
(232,796) |
(548,722) |
(257,942) |
| Selling and distribution expenses |
(37,382) |
(20,748) |
(59,752) |
(21,778) |
| Finance charges |
(159,909) |
(42,198) |
(122,945) |
(28,447) |
|
|
|
|
|
| Total Expenses |
(690,096) |
(295,742) |
(731,419) |
(308,167) |
|
|
|
|
|
| Operating profit |
171,028 |
21,735 |
428,578 |
152,899 |
| Dividend from subsidiary |
- |
100,000 |
- |
130,000 |
| Profit before taxation |
171,028 |
121,735 |
428,578 |
282,899 |
| Taxation |
(15,950) |
(421) |
(44,920) |
(13,399) |
| Profit for the year |
155,078 |
121,314 |
383,658 |
269,500 |
|
|
|
|
|
| Earnings per share |
0.016 |
0.012 |
0.038 |
0.027 |
|
|
|
|
|
| Financial statements are available in Arabic and English at the Head Office in Plot No.11, Road No.7, Rusayl Industrial Estate, Sultanate of Oman |
|
| |
|
 |
 |
Computer Stationery Industry SAOG
Unaudited consolidated Statement of Comprehensive Income
For the Six months ended 30th June 2010
| Particulars |
6 months ended |
6 months ended |
Change % |
| |
30-Jun-2010 |
30-Jun-09 |
|
| |
RO |
RO |
|
| |
|
|
|
| Turnover/Revenue
|
1,652,365 |
1,764,287 |
(6.34)
%
|
| Gross
profit
|
580,267 |
595,293
|
(2.52)
% |
| |
|
|
|
| Depreciation
|
(190,108) |
(183,479)
|
3.61
% |
| Admin
& General expenses
|
(228,417) |
(228,628) |
(0.09)
% |
| |
|
|
|
| Operating
profit
|
161,742
|
183,186 |
(11.71)
%
|
| Finance
charges
|
(70,263) |
(75,202)
|
(6.57)
% |
| Other
Income
|
24,816
|
21,639
|
14.68
%
|
| Investment
income
|
-
|
-
|
|
| Balance
|
116,295
|
129,623
|
(10.28)
%
|
| Prior year Tax Payment
|
(48)
|
|
|
| Profit
before taxation and minority interests
|
116,247
|
129,623 |
(10.32)
%
|
| Taxation *
|
(10,633)
|
(13,356)
|
(20.39)
%
|
| |
|
|
|
| Net
profit attributable to ordinary shareholders
|
105,614
|
116,267
|
(9.16)
%
|
| Dividend
per share**
|
-
|
-
|
|
| |
|
|
|
| Net
profit margin***
|
6.39%
|
6.59%
|
(3.01)
%
|
| |
|
|
|
| * represents provision for taxation & deferred Taxation
|
| ** - Dividend per share is calculated by dividing the
dividends paid or proposed during the period by the average number of shares
in issue for the period
|
| ***
- Net profit margin =Net profit for the period x 100/ Turnover
for period |
| |
|
|
|
|
| Computer Stationery Industry SAOG |
| Unaudited consolidated Statement of Financial Position as on 30-06-2010
|
| Particulars
|
30-Jun-10
|
30-Jun-09
|
Change % |
| RO
|
RO
|
|
| Fixed
Assets
|
2,759,515
|
2,752,376
|
0.26
%
|
| Current
Assets
|
|
|
|
| Inventories
|
695,970
|
779,332
|
(10.70)
%
|
| |
|
|
|
| Trade
receivables
|
1,140,204
|
1,124,766
|
1.37
%
|
| Receivable
from related parties
|
35,820
|
35,733
|
0.24
%
|
| Advances
to related Parties
|
-
|
-
|
|
| Investments
|
-
|
-
|
|
| Bank and
cash
|
28,231
|
15,511
|
82.01
%
|
| Other
assets |
104,820
|
34,469
|
204.10
%
|
| Total
Current Assets
|
2,005,045
|
1,989,811
|
0.77
%
|
| Current
Liabilities
|
|
|
|
| Trade and
other creditors
|
122,026
|
98,678
|
23.66
%
|
| Payable
to related parties
|
386
|
1,183
|
(67.37)
%
|
| Bank
overdrafts |
1,736,730
|
1,646,775
|
5.46
%
|
| Short
term maturity of long term loans
|
236,046
|
286,782
|
(17.69)
%
|
| Accrued
expenses
|
305,769 |
324,862
|
(5.88)
%
|
| Unpaid
dividends
|
252
|
1,615
|
(84.40)
%
|
| Provision
for deferred tax
|
104,540
|
107,752
|
(2.98)
%
|
| Provision
for taxation
|
7,333
|
9,976
|
(26.49)
%
|
| |
|
|
|
| Total
Current Liabilities
|
2,513,082
|
2,477,623
|
1.43
%
|
| |
|
|
|
| Long
term liabilities
|
|
|
|
| Bank
loans |
334,903
|
351,114
|
(4.62)
%
|
| Government
Soft Loans
|
-
|
16,300
|
(100.00)
%
|
| Total
Liabilities
|
334,903
|
367,414 |
450,657
|
| Net
Assets
|
1,916,575
|
1,897,150
|
1.02
%
|
| Shareholders'
funds
|
|
|
|
| Share
Capital
|
1,000,000 |
1,000,000
|
0.00%
|
| Legal
Reserve
|
326,823
|
293,064
|
11.52
%
|
| Profit
and loss account
|
514,752
|
534,086
|
(3.62)
%
|
| General
Reserve
|
75,000
|
70,000
|
7.14%
|
| Total
Shareholders equity
|
1,916,575
|
1,897,150
|
1.02
%
|
|
|
|
|
|