AJ Lucas Group annual report 2007-08

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AJ Lucas Group Limited and its controlled entities Balance Sheets As at 30 june 2008 The accompanying notes are an integral part of these consolidated financial statements. Note Consolidated 2008 $’000 2007 $’000 2008 $’000 Company Current assets Cash and cash equivalents 8 16,612 18,222 5,519 13,512 Trade and other receivables 9 56,912 28,261 6,064 4,189 Construction work in progress 10 40,685 53,418 — — Other 11 1,717 435 184 — Total current assets 115,926 100,336 11,767 17,701 2007 $’000 Non-current assets Trade and other receivables 9 — — 49,889 31,795 Property, plant and equipment 12 55,986 30,921 — — Investments 13 26,156 63 26,879 1,260 Exploration assets 14 4,100 6,175 — — Intangible development assets 15 15,452 1,046 — — Other intangible assets 16 12,279 6,805 2,061 2,061 Deferred tax assets 17 — 5,602 8,405 10,126 Total non-current assets 113,973 50,612 87,234 45,242 Total assets 229,899 150,948 99,001 62,943 Current liabilities Trade and other payables 18 83,074 66,319 632 84 Interest-bearing loans and borrowings 19 19,996 10,706 4,500 — Income tax payable 20 114 75 — — Provisions 21 8,550 2,702 — — Total current liabilities 111,734 79,802 5,132 84 Non-current liabilities Trade and other payables 18 — — 29,361 16,217 Interest-bearing loans and borrowings 19 51,036 37,181 18,226 24,188 Deferred tax liabilities 17 1,221 — — — Provisions 21 748 3,527 — — Total non-current liabilities 53,005 40,708 47,587 40,405 Total liabilities 164,739 120,510 52,719 40,489 Net assets 65,160 30,438 46,282 22,454 Equity Issued capital 24 54,037 30,655 54,118 30,736 Reserves 24 2,236 1,091 — — Retained earnings/(accumulated losses) 24 8,887 (1,308) (7,836) (8,282) Total equity 24 65,160 30,438 46,282 22,454 32 LUCAS group
statements of cash flows for the year ended 30 june 2008 The accompanying notes are an integral part of these consolidated financial statements. Note Consolidated 2008 $’000 2007 $’000 2008 $’000 Company Cash flows from operating activities Cash receipts from customers 450,877 200,553 66 — Cash payments to suppliers and employees (394,407) (187,970) (277) (100) Cash generated from operations 56,470 12,583 (211) (100) Interest received 547 60 465 — Income taxes paid (72) (497) — — Interest and other costs of finance paid (6,875) (2,544) (4,112) (1,172) Net cash from operating activities 29(b) 50,070 9,602 (3,858) (1,272) 2007 $’000 Cash flows from investing activities Proceeds from sale of plant and equipment 1,018 457 — — Payment for investment in other entities (27,858) — (25,243) — Loans to controlled entities — — (8,574) — Repayment of loans by controlled entities — — — 5,532 Payments for plant and equipment (21,472) (5,953) — — Exploration and evaluation expenditure (12,513) (2,676) — — Loans to related entity (1,578) (1,608) (1,578) (1,608) Repayment of loan to related entity 292 — 263 — Acquisition of subsidiary net of cash acquired (9,993) (3,198) — — Net cash from investing activities (72,104) (12,978) (35,132) 3,924 Cash flows from financing activities Proceeds of borrowings -other 41,690 4,004 22,626 — Repayment of borrowings - other (6,413) (147) — — Loans from controlled entities — — 13,144 — Deferred payment for acquisition (625) _ — — Dividends paid (3,273) _ (3,273) — Proceeds from issue of convertible notes — 24,188 — 24,188 Repayment of convertible notes (1,500) (10,000) (1,500) (10,000) Payment of finance lease liabilities (4,659) (3,521) — — Net cash from financing activities 25,220 14,524 30,997 14,188 Net increase/(decrease) in cash and cash equivalents 3,186 11,148 (7,993) 16,840 Cash and cash equivalents at beginning of the year 12,559 1,411 13,512 (3,328) Cash and cash equivalents at end of the year 29(a) 15,745 12,559 5,519 13,512 a year of milestones 33
Page 1 and 2: AJ Lucas Group Limited Annual Repor
Page 3 and 4: 50 Years of Milestones Page 16 Fina
Page 5 and 6: Chairman’s letter What a year! Lu
Page 7 and 8: 2.5 +220% 8.0 Construction & infras
Page 9 and 10: The Brooklyn—Lara Gas Pipeline (l
Page 11 and 12: Left: A coal seam gas well at Glouc
Page 13 and 14: a year of milestones 11
Page 15 and 16: Hyundai Australia’s new HQ has an
Page 17 and 18: Three pipes this size in a trench i
Page 19 and 20: aj lucas group ltd financial report
Page 21 and 22: Company secretary Mr Nicholas Swan
Page 23 and 24: The Group has now appointed a numbe
Page 25 and 26: Indemnification and insurance of of
Page 27 and 28: Total $ Proportion of remuneration
Page 29 and 30: Analysis of share-based payments gr
Page 31 and 32: Lead auditor’s independence decla
Page 33: Statements of recognised income and
Page 37 and 38: policies. Significant influence is
Page 39 and 40: Any subsequent period adjustments t
Page 41 and 42: The recoverable amount of an asset
Page 43 and 44: Secondary reporting—geographical
Page 45 and 46: 2008 Number 2007 Number Weighted av
Page 47 and 48: 15. Intangible Development assets G
Page 49 and 50: Assets Liabilities Net 2008 $’000
Page 51 and 52: (b) Bond facilities provided by sur
Page 53 and 54: 21. PROVISIONS Consolidated Company
Page 55 and 56: c) Employee share acquisition plan:
Page 57 and 58: Risk management policies are establ
Page 59 and 60: Market risk Market risk is the risk
Page 61 and 62: Carrying amount $’000 Consolidate
Page 63 and 64: Guarantees and surety bonds Bank gu
Page 65 and 66: 31. KEY MANAGEMENT PERSONNEL DISCLO
Page 67 and 68: Options and rights over equity inst
Page 69 and 70: DIRECTORS’ DECLARATION 157 Church
Page 71 and 72: AUSTRALIAN Securities EXCHANGE ADDI
Page 73 and 74: a year of milestones 71
Page 75 and 76: credits Writing & management Ad Ver

AJ Lucas Group annual report 2007-08

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