STATEMENT OF COMPREHENSIVE INCOME
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2016
Notes
2016
$’000
2015
$’000
3
1,662
1,754
1,662
1,754
Interest and similar income
Interest income
Fee and commission income
3
111,246
95,646
Fee and commission expense
3
(8,995)
(7,256)
102,251
88,390
Net fee and commission income
Other income
3
–
101
–
Total other income
101
Employment expenses
3
(38,979)
(30,430)
Occupancy expenses
3
(3,855)
(2,122)
Promotional expenses
3
(15,306)
(13,909)
IPO-related expenses
3
–
(96)
Other operating expenses
3
(13,980)
(9,755)
Total operating expenses
(72,120)
(56,312)
Net profit before income tax
31,793
33,933
(9,979)
(9,667)
21,814
24,266
21,814
24,266
Income tax expense
4
Net profit after income tax
Net profit attributable to ordinary equity holders of OzForex Group Limited
1
Other comprehensive income
Exchange differences on translation of foreign operations2
(33)
314
21,781
24,580
21,781
24,580
Cents
Total comprehensive income
Cents
Total comprehensive income attributable to:
Ordinary equity holders of OzForex Group Limited
1. Represents profit from continuing operations.
2. Represents other comprehensive income that may be reclassified to profit or loss.
Earnings per share based on profit from continuing operations,
attributable to the ordinary equity holders of the parent entity:
Basic
29
9.09
10.11
Fully diluted
29
8.99
10.03
The above Statement of Comprehensive Income should be read in conjunction with the accompanying notes.
48 OZFOREX GROUP
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2016
Notes
2016
$’000
2015
$’000
Cash and cash equivalents
5
142,088
168,804
Receivables due from financial institutions
6
20,802
5,200
Derivative financial instruments – positive values
7
26,977
10,294
Other assets
8
3,202
3,083
Property, plant and equipment1
9
6,512
1,014
10
2,760
198
1,945
–
Assets
Intangible assets
1
Prepaid income tax
Deferred income tax assets
11
1,310
3,919
205,596
192,512
12
124,827
124,591
7
20,297
10,327
13
4,754
4,263
–
2,686
Provisions
14
2,467
2,999
Deferred income tax liabilities
11
22
15
152,367
144,881
53,229
47,631
24,360
24,360
278
311
2,298
1,239
Total assets
Liabilities
Client liabilities
Derivative financial instruments – negative values
Other liabilities
Current tax liabilities
Total liabilities
Net assets
Equity
Ordinary share capital
15
Foreign currency translation reserve
Share-based payments reserve
Retained earnings
26,293
21,721
Total capital and reserves attributable to equity holders of OzForex Group Limited
16
53,229
47,631
Total equity
53,229
47,631
1. Comparative information has been restated to conform to presentation in the current year. Please see Note 10 for further details.
The above Statement of Financial Position should be read in conjunction with the accompanying notes.
ANNUAL REPORT 2016 49
STATEMENT OF CHANGES IN EQUITY
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2016
Foreign
currency Share-based
translation
payments
reserve¹
reserve¹
$’000
$’000
Contributed
equity
$’000
Retained
earnings
$’000
24,360
11,555
(3)
91
36,003
Net profit, after income tax
–
24,266
–
–
24,266
Other comprehensive income, net of tax
–
–
314
–
314
Total comprehensive income
–
24,266
314
–
24,580
–
–
–
–
–
Notes
Balance at 1 April 2014
Total equity
$’000
Transactions with equity holders in their
capacity as equity holders:
Share issue
Dividends and distributions paid
17
–
(14,100)
–
–
(14,100)
Employee share options
– value of employee services
23
–
–
–
(91)
(91)
Share-based payment expense
23
–
–
–
1,239
1,239
–
(14,100)
–
1,148
(12,952)
24,360
21,721
311
1,239
47,631
Net profit, after income tax
–
21,814
–
–
21,814
Other comprehensive income, net of tax
–
–
(33)
–
(33)
Total comprehensive income
–
21,814
(33)
–
21,781
Balance at 31 March 2015
Transactions with equity holders in their
capacity as equity holders:
Share issue
–
–
–
–
–
Dividends and distributions paid
17
–
(17,242)
–
–
(17,242)
Employee share options
– value of employee services
23
–
–
–
43
43
Share-based payment expense
23
Balance at 31 March 2016
–
–
–
1,016
1,016
–
(17,242)
–
1,059
(16,183)
24,360
26,293
278
2,298
53,229
1. The foreign currency translation reserve and the share-based payments reserve are non-distributable reserves of the Group.
The above Statement of Changes in Equity should be read in conjunction with the accompanying notes.
50 OZFOREX GROUP
STATEMENT OF CASH FLOWS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2016
2016
$’000
2015
$’000
1,662
1,754
Total cash inflows from customers
19,596,083
16,647,053
Total cash outflows to customers, suppliers and employees
(19,569,976)
(16,599,859)
(11,994)
(10,444)
15,775
38,504
–
–
Payments for property, plant and equipment
(6,490)
(548)
Payments for intangible assets
(2,927)
(192)
Payments for deposits with financial institutions
(15,602)
(5,000)
Net cash flows used in investing activities
(25,019)
(5,740)
(17,242)
(14,100)
(17,242)
(14,100)
Notes
Cash flows from operating activities
Interest received
Income tax paid
Net cash flows from operating activities
20
Cash flows from investing activities
Loss on sale of property, plant and equipment
Cash flows from financing activities
Dividends paid
17
Net cash flows used in financing activities
Net increase in cash
(26,486)
18,664
Cash and cash equivalents at the beginning of the financial year
168,804
148,558
(230)
1,582
142,088
168,804
Exchange (losses)/gains on cash and cash equivalents
Cash and cash equivalents at the end of the financial year
5
The above Statement of Cash Flows should be read in conjunction with the accompanying notes.
Comparative information has been restated to conform to presentation in the current year.
ANNUAL REPORT 2016 51