SEC Form 17-A: Annual Report - the solid group inc website

SOLID GROUP INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010
(Amounts in Philippine Pesos)
Notes 2012 2011 2010
REVENUES 2
Sale of goods P 3,959,978,189 P 3,135,018,332 P 1,622,862,107
Rendering of services 630,331,311 682,884,837 694,808,001
Rentals 136,716,722 157,741,960 121,663,078
Sale of real estate 98,968,685 126,087,655 207,355,479
Interests 21 64,387,678 47,757,624 63,089,091
4,890,382,585 4,149,490,408 2,709,777,756
COST OF SALES, SERVICES, REAL ESTATE
SALES AND RENTALS
Cost of sales 18 3,092,129,708 2,524,843,718 1,225,420,110
Cost of services 18 488,402,762 499,294,869 460,191,618
Cost of real estate sales 20 45,917,227 95,886,118 151,396,685
Cost of rentals 18 35,382,941 39,880,748 38,569,193
3,661,832,638 3,159,905,453 1,875,577,606
GROSS PROFIT 1,228,549,947 989,584,955 834,200,150
OTHER OPERATING
EXPENSES (INCOME)
Selling and distribution costs 20 361,066,027 278,372,598 227,552,333
General and administrative expenses 20 343,002,874 366,950,584 281,046,941
Gain on sale of assets 27 ( 267,133,735 )
- -
Other operating income - net 19 ( 553,926,007 ) ( 232,773,017 ) ( 87,379,618 )
( 116,990,841 )
412,550,165 421,219,656
OPERATING PROFIT 1,345,540,788 577,034,790 412,980,494
OTHER INCOME (CHARGES)
Finance income 21 163,702,479 64,476,707 38,921,553
Finance costs 21 ( 49,088,095 ) ( 89,426,503 ) ( 88,223,148 )
Other gains 19 57,651,877 21,439,128 2,736,192
172,266,261 ( 3,510,668 ) ( 46,565,403 )
PROFIT BEFORE TAX 1,517,807,049 573,524,122 366,415,091
TAX EXPENSE 23 276,164,794 139,364,314 122,651,703
PROFIT FROM CONTINUING OPERATIONS 1,241,642,255 434,159,808 243,763,388
LOSS FROM DISCONTINUED OPERATIONS - Net of Tax 5 - ( 3,863,823 ) ( 17,060,653 )
NET PROFIT FOR THE YEAR P 1,241,642,255 P 430,295,985 P 226,702,735
Profit for the year attributable to the:
Parent Company’s stockholders P 1,244,304,250 P 439,437,428 P 229,346,310
Non-controlling interests ( 2,661,995 ) ( 9,141,443 ) ( 2,643,575 )
P 1,241,642,255 P 430,295,985 P 226,702,735
Earnings per share attributable to the
Parent Company’s stockholders - basic and diluted 25 P 0.68 P 0.24 P
0.13
See Notes to Consolidated Financial Statements.