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