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QUALITY BEVERAGES LIMITED

ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2012
STATEMENTS OF FINANCIAL POSITION
THE GROUP
31 December 2012 31 December 2011
Rs
ASSETS
Non-current assets
Current assets

Rs

THE COMPANY
31 December 2012 31 December 2011
Rs

Rs

611,497,399
286,620,574

627,236,962
308,042,864

609,060,859
280,896,820

619,288,957
296,845,746

898,117,973

935,279,826

889,957,679

916,134,703

Attributable to:
Owners of the company
Non controlling interest

313,509,453
(4,837,608)

357,339,453
1,420,055

321,213,909
-

357,888,551
-

Non-current liabilities

262,805,879

213,219,069

257,579,135

207,925,286

Current liabilities
TOTAL EQUITY AND LIABILITIES

326,640,249
898,117,973

363,301,249
935,279,826

311,164,635
889,957,679

350,320,866
916,134,703

TOTAL ASSETS

Rs

EQUITY AND LIABILITIES


Capital and reserves

Rs

STATEMENTS OF COMPREHENSIVE INCOME


THE GROUP
Year ended
Year ended
31 December 2012 31 December 2011
Rs
Rs
606,992,505
583,614,145

Revenue
Operating Profit/(Loss)
Finance costs
Loss before taxation
Taxation

THE COMPANY
Year ended
Year ended
31 December 2012 31 December 2011
Rs
Rs
586,508,463
553,530,792

(37,893,043)
(18,003,406)
(55,896,449)
5,916,786

(214,704)
(15,141,491)
(15,356,195)
3,835,897

(25,139,431)
(17,343,997)
(42,483,428)
5,916,786

(2,310,414)
(14,486,456)
(16,796,870)
3,835,897

Loss after taxation for the year

Rs

(49,979,663)

(11,520,298)

(36,566,642)

(12,960,973)

Other comprehensive income for the year


Total comprehensive income for the year

Rs

(108,000)
(50,087,663)

89,636,900
78,116,602

(108,000)
(36,674,642)

89,636,900
76,675,927

Rs

(43,722,000)
(6,257,663)
(49,979,663)

(12,243,131)
722,833
(11,520,298)

(36,566,642)
(36,566,642)

(12,960,973)
(12,960,973)

(43,830,000)

77,393,769

(36,674,642)

76,675,927

Rs

(6,257,663)
(50,087,663)

722,833
78,116,602

(36,674,642)

76,675,927

Rs

(6.15)

(1.72)

(Loss)/Profit attributable to
Owners of the parent
Non controlling interest
Total comprehensive income attributable to:
Owners of the parent
Non controlling interest
Loss per share

STATEMENTS OF CHANGES IN EQUITY


THE GROUP

Equity holders
of the company
Rs

Year ended
31 December 2012
Non controlling
Interest
Rs

Total

Rs

Equity holders
of the company

Year ended
31 December 2011
Non controlling
Interest

THE COMPANY
Year ended
Year ended
31 December 2012 31 December 2011
Total

Rs

Rs

Rs

Balance at 1 January
Loss for the year
Other comprehensive income

357,339,453
(43,722,000)
(108,000)

1,420,055
(6,257,663)
-

358,759,508
(49,979,663)
(108,000)

283,500,976
(12,243,131)
89,636,900

697,222
722,833
-

284,198,198
(11,520,298)
89,636,900

357,888,551
(36,566,642)
(108,000)

284,767,916
(12,960,973)
89,636,900

Total comprehensive income and expense for the year

(43,830,000)

(6,257,663)

(50,087,663)

77,393,769

722,833

78,116,602

(36,674,642)

76,675,927

321,213,909

357,888,551

Dividend
Balance at 31 December

(3,555,292)
Rs

313,509,453

(4,837,608)

308,671,845

357,339,453

(3,555,292)
1,420,055

358,759,508

(3,555,292)

QUALITY BEVERAGES LIMITED


STATEMENTS OF CASH FLOWS
THE GROUP
Year ended
Year ended
31 December 2012 31 December 2011
Rs
Rs

NET CASH GENERATED FROM OPERATING ACTIVITIES

THE COMPANY
Year ended
Year ended
31 December 2012 31 December 2011

Rs

Rs

38,437,121

49,838,324

41,854,881

44,384,466

NET CASH USED IN INVESTING ACTIVITIES

(19,314,079)

(40,278,012)

(19,859,870)

(36,859,990)

NET CASH USED IN FINANCING ACTIVITIES

(12,176,805)

(14,430,241)

(12,204,401)

(14,084,209)

NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS


CASH AND CASH EQUIVALENTS-OPENING
CASH AND CASH EQUIVALENTS-CLOSING

Rs

(4,869,929)

9,790,610

(6,559,733)

(55,158,842)

(58,700,348)

(52,140,615)

(53,082,534)

(60,028,771)

(48,909,738)

(58,700,348)

THE GROUP
Year ended
Year ended
31 December 2012 31 December 2011
Rs
Rs

SEGMENTAL INFORMATION - GROUP

Revenue
Bottling and distribution
Advertising

586,508,463
20,484,042

553,530,792
30,083,353

Rs

606,992,505

583,614,145

Rs

(25,285,375)
(12,679,668)
(37,965,043)
(17,931,406)
(55,896,449)
5,916,786
(49,979,663)

(2,072,536)
1,857,832
(214,704)
(15,141,491)
(15,356,195)
3,835,897
(11,520,298)

Segment Results
Bottling and distribution
Advertising
Net Finance costs
Loss before taxation
Taxation
Loss after taxation

6,946,237
(60,028,771)

NOTES:

The audited condensed financial statements for the year ended 31 December 2012 are prepared using the same
accounting policies and methods of computation as those adopted in the statutory financial statements for the year ended 31st December 2011.
Group Results:
The group has increased its year on year turnover by 4%. However, the loss after tax has increased from Rs11.5m to Rs50m. This loss has been
driven principally from a fall in sales volume resulting from price increases driven by the water levy on drinks together with subsidiary losses
resulting from higher costs consequential to the introduction of a billboard tax on outdoor media.
PROSPECTS
The beverages industry remains highly competitive. The group has taken corrective measures and expects the results to improve in 2013.
However, the introduction of a significant tax on sugar drinks remains a threat to the industry.
By order of the Board
Currimjee Limited
Secretary
Dated this : 28 March 2013
The Board of Directors of Quality Beverages Limited accepts full responsibility for the accuracy of the information
contained in these condensed unaudited financial statements prepared in accordance with International
Financial Reporting Standards. Copies of the report are available to the public, free of charge, at the registered
office of the Company: 6 Sir William Newton St, Port Louis.
These Financial Statements are issued pursuant to DEM Rule 18
The statement of direct and indirect interests pursuant to the rule 8(2)(m) of the Securities Act(Disclosure Obligations
of Reporting Issuers) Rules 2007 is available upon request from the Company Secretary, Currimjee Limited.