Vtech 2010 Annual Report Download - page 39

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VTech Holdings Ltd Annual Report 2010 37
Consolidated Financial Statements
Consolidated Income Statement
For the year ended 31 March 2010
2010 2009
Note US$ million US$ million
Revenue 1 1,532.3 1,448.2
Cost of sales (972.9) (920.7)
Gross profit 559.4 527.5
Selling and distribution costs (207.3) (232.1)
Administrative and other
operating expenses (71.2) (84.2)
Research and development
expenses (56.8) (56.9)
Operating profit 1 & 2 224.1 154.3
Net finance income 1.4 4.7
Profit before taxation 225.5 159.0
Taxation 4 (20.2) (15.8)
Profit for the year 205.3 143.2
Attributable to:
Shareholders of the Company 206.5 143.2
Minority interests (1.2) –
Profit for the year 205.3 143.2
Earnings per share
(US cents) 6
– Basic 83.7 58.5
– Diluted 83.4 58.4
Consolidated Statement of Comprehensive
Income
For the year ended 31 March 2010
2010 2009
US$ million US$ million
Profit for the year 205.3 143.2
Other comprehensive income
(after tax and reclassification
adjustments) for the year
Realisation of hedging reserve 0.3 (0.6)
Fair value gains on hedging – 1.3
Exchange translation differences 2.9 (14.6)
Surplus arising on revaluation
of properties – 4.8
Other comprehensive income
for the year 3.2 (9.1)
Total comprehensive income
for the year 208.5 134.1
Attributable to:
Shareholders of the Company 209.6 134.1
Minority interests (1.1) –
Total comprehensive income
for the year 208.5 134.1
Consolidated Balance Sheet
As at 31 March 2010
2010 2009
Note US$ million US$ million
Non-current assets
Tangible assets 7 79.8 99.9
Leasehold land payments 8 6.5 3.8
Deferred tax assets 9 5.6 5.2
Investments 10 0.2 0.2
92.1 109.1
Current assets
Stocks 11 159.3 128.0
Debtors, deposits and
prepayments 12 211.4 190.2
Financial assets at fair value
through profit or loss 13 – 4.9
Taxation recoverable 0.7 3.1
Deposits and cash 14 382.6 287.2
754.0 613.4
Current liabilities
Creditors and accruals 15 (272.9) (232.9)
Provisions 16 (42.4) (41.8)
Taxation payable (9.6) (3.3)
(324.9) (278.0)
Net current assets 429.1 335.4
Total assets less current
liabilities 521.2 444.5
Non-current liabilities
Deferred tax liabilities 9 (3.7) (4.3)
Net assets 517.5 440.2
Capital and reserves
Share capital 18 12.4 12.3
Reserves 503.3 427.9
Shareholders’ funds
attributable to
the Company’s
shareholders 515.7 440.2
Minority interests 1.8 –
Total equity 517.5 440.2
Approved and authorised for issue by the Board of Directors on
14 June 2010.
Allan WONG Chi Yun PANG King Fai
Director Director
The notes and principal accounting policies on pages 39 to 65 form part of these financial statements. Details of dividends payable to
shareholders of the Company attributable to the profit for the year are set out in note 5.