Vtech 2007 Annual Report Download - page 32

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Consolidated Financial Statements
VTech Holdings Ltd
Annual Report 2007
30
CONSOLIDATED BALANCE SHEET
As at 31st March 2007
2007 2006
Note
US$ million US$ million
Non-current assets
Tangible assets 7 78.4 64.6
Leasehold land payments 8 3.7 3.7
Deferred tax assets 9 5.5 5.1
Investments 10 0.2 0.2
87.8 73.6
Current assets
Stocks 11 124.1 133.8
Debtors and prepayments 12 203.4 183.6
Taxation recoverable 1.6 1.8
Cash and cash equivalents 246.5 242.4
575.6 561.6
Current liabilities
Creditors and accruals 13 (256.5) (267.7)
Provisions 14 (47.9) (49.3)
Taxation payable (11.5) (7.9)
(315.9) (324.9)
Net current assets 259.7 236.7
Total assets less current
liabilities 347.5 310.3
Non-current liabilities
Deferred tax liabilities 9 (4.2) (4.1)
Net assets 343.3 306.2
Capital and reserves
Share capital 16 11.9 11.9
Reserves 17 331.4 294.3
Shareholders’ funds 343.3 306.2
Approved and authorised for issue by the Board of Directors
on 20th June 2007.
Allan WONG Chi Yun Edwin YING Lin Kwan
Director Director
CONSOLIDATED INCOME STATEMENT
For the year ended 31st March 2007
2007 2006
Note
US$ million US$ million
Revenue 1
1,463.8 1,204.6
Cost of sales (923.8) (757.9)
Gross profi t 540.0 446.7
Selling and distribution costs (238.6) (209.2)
Administrative and other
operating expenses (62.2) (61.0)
Research and development
expenses (45.2) (40.3)
Operating profi t 1&2 194.0 136.2
Net fi nance income 7.5 3.9
Share of results of associates – –
Profi t before taxation 201.5 140.1
Taxation 4 (18.6) (11.3)
Profi t attributable to
shareholders 17 182.9 128.8
Interim dividend 5 21.5 14.3
Special dividend 5 71.7 –
Final dividend 5 98.0 62.1
Earnings per share (US cents) 6
– Basic 76.6 54.9
– Diluted 75.1 54.3
CONSOLIDATED STATEMENT OF CHANGES IN
SHAREHOLDERS’ FUNDS
For the year ended 31st March 2007
2007 2006
Note US$ million US$ million
Shareholders’ funds at
1st April 306.2 203.3
Exercise of share options 16&17 0.4 13.2
Exercise of warrants 16&17 – 3.3
Realisation of hedging
reserve 17 4.1 (2.7)
Fair value (losses)/gains on
hedging during the year 17 (4.7) 3.3
Capital reserve on employee
share option scheme 17 1.2 1.6
Exchange translation
differences 17 8.5 (2.3)
Net gains and (losses) not
recognised in the
income statement 9.5 16.4
Profi t attributable to
shareholders 17 182.9 128.8
Dividends approved and
paid during the year 17 (155.3) (42.3)
Shareholders’ funds at
31st March 343.3 306.2
The notes on pages 31 to 52 form part of these fi nancial statements.
12aVtechCFS&Notes(E).indd30 2007/7/511:43:20PM