cont'd - KNM Steel Sdn Bhd

KNM GROUP BERHAD I Annual Report 2012Statements of Comprehensive Incomefor the year ended 31 December 201245GroupCompanyNote 2012 2011 2012 2011RM’000 RM’000 RM’000 RM’000RevenueContract revenue 2,377,340 1,963,778 – –Sales of goods and services 190 – – –Management fees – – 7,894 4,589Dividend income – – 34,000 -2,377,530 1,963,778 41,894 4,589Cost of salesContract costs recognised as an expense (1,969,972) (1,776,612) – –Cost of goods sold and services (176) – – –(1,970,148) (1,776,612) – –Gross profit 407,382 187,166 41,894 4,589Administration expenses (224,342) (216,001) (4,784) (5,092)Other income 39,860 27,460 559 1,232Other operating expenses (115,559) (105,469) (1,095) (474)Results from operating activities 107,341 (106,844) 36,574 255Finance costs 20 (60,362) (52,190) (21,176) (19,494)Finance income 3,758 3,632 23,218 22,897Impairment of goodwill (29,557) – – –Share of loss of equity accountedinvestees, net of tax (144) (480) – –Profit/(Loss) before tax 21,036 (155,882) 38,616 3,658Tax expense 21 59,052 62,100 (1,609) (530)Profit /(Loss) for the year 22 80,088 (93,782) 37,007 3,128Other comprehensive (expense)/income, net of taxCash flow hedge 5,228 (3,659) – –Foreign currency translationdifferences for foreign operations (5,513) 9,174 – –Impairment of previously revaluedproperty, plant and equipment – (4,353) – –Hedge of net investment in subsidiary (45,423) 13,232 – –Share of other comprehensive incomeof equity accounted investees (239) 157 – –Fair value of available-for-salefinancial assets (30) – – –Other comprehensive (expense)/income for the year, net of tax (45,977) 14,551 – –Total comprehensive income/(expense) for the year 34,111 (79,231) 37,007 3,128