Minor amendments to the statement of changes in equity

HALLENSTEIN GLASSON HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 1 FEBRUARY 2017 (unaudited)
GroupGroup
Half Year
ended 1/2/17
Half Year
ended 1/2/16
$000's
Sales Revenue122,911112,399
Cost of Sales(51,555)(48,563)
Gross Profit71,35663,836
Other Operating Income387392
Selling Expenses(44,238)(41,200)
Distribution Expenses(3,732)(3,395)
Administration Expenses(11,084)(10,327)
Total Expenses(59,054)(54,922)
Operating Profit12,6899,306
Finance Income135224
Profit Before Income Tax12,8249,530
Income Tax(3,639)(2,713)
Net Surplus Attributable to the
Shareholders of the Holding Company9,1856,817
Other comprehensive income
Fair value gain (loss) in cash flow hedge
reserve net of tax
1,897(1,478)
Increase (Decrease) in Share Option
Reserve
5671
Total comprehensive income for the
year
11,1385,410
Earnings per share
Basic earnings per share15.40 11.43
Diluted earnings per share15.40 11.43
The Notes to the Annual Accounts form an integral part of and are to be read in conjunction with these
Financial Statements.

HALLENSTEIN GLASSON HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 1 FEBRUARY 2017 (unaudited)
GroupGroupGroup
As at 1/2/17
As at 1/2/16As at 1/8/16
$'000$'000$'000
Equity
Contributed Equity27,63727,49427,649
Asset revaluation reserve12,61712,61712,617
Cashflow hedge reserve(521)(416)(2,418)
Share Option Reserve259313203
Retained earnings17,16918,98917,826
Total Equity57,16158,99755,877
Represented by
Current Assets
Cash and cash equivalents11,65012,67614,191
Trade and other receivables3534081,660
Advances to Employees249362346
Prepayments3,6421,6943,419
Inventories17,63719,62920,001
Total Current Assets33,53134,76939,617
Non-Current Assets
Investments in Subsidiaries
-
--
Property, plant and equipment40,44536,63636,227
Intangible assets431457493
Deferred tax2,0061,3972,291
Total Non-Current Assets42,88238,49039,011
Total Assets76,41373,25978,628
Current Liabilities
Trade payables4,1952,6717,921
Employee benefits4,2584,6473,929
Other payables8,4955,9326,208
Derivative Financial Instruments7235773,694
Taxation payable1,581435999
Total Current Liabilities19,25214,26222,751
Total Liabilities19,25214,26222,751
Net Assets57,16158,99755,877
The Notes to the Annual Accounts form an integral part of and are to be read in conjunction with these Financial Statements.

HALLENSTEIN GLASSON HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHS ENDED 1 FEBRUARY 2017 (unaudited)
Share
Capital
Treasury
Stock
Asset
revaluation
reserve
Cash flow
hedge
reserve
Share
Option
Reserve
Retained
earnings
Total
Equity
$000$000$000$000$000$000$000
Balance at 1 August 201529,279(1,799)12,6171,06224222,01463,415
Comprehensive Income
Profit for year
-----6,8176,817
Revaluation net of tax
---(1,478)--(1,478)
Cash flow hedges net of tax
-------
Increase in share option reserve
----71-71
Total comprehensive income
---(1,478)716,8175,410
Transactions with Owners
Purchase of treasury stock
-(299)----(299)
Sale of treasury stock
-------
Transfer of treasury stock to employees
-231----231
Transfer of share option reserve to retained earnings -------
Dividends
-82---(9,842)(9,760)
Gain/loss on sale of treasury stock transferred to retained earnings-------
Total transactions with owners
-14---(9,842)(9,828)
Balance at 1 February 201629,279(1,785)12,617(416)31318,98958,997
Comprehensive Income
Profit for year
-----6,8626,862
Revaluation net of tax
-------
Cash flow hedges net of tax
---(2,002)--(2,002)
Increase in share option reserve
----34-34
Total comprehensive income
---(2,002)346,8624,894
Transactions with Owners
Purchase of treasury stock
-(548)----(548)
Sale of treasury stock
-520----520
Transfer to Employee Advances
-1----1
Transfer of share option reserve to retained earnings ----(144)144-
Dividends
-66---(8,053)(7,987)
Gain/loss on sale of treasury stock transferred to retained earnings-116---(116)-
Total transactions with owners
-
155
-
-(144)(8,025)(8,014)
Balance at 1 August 201629,279(1,630)12,617(2,418)20317,82655,877
Comprehensive Income
Profit for year
-----9,1859,185
Revaluation net of tax
-------
Cash flow hedges net of tax
---1,897--1,897
Increase in share option reserve
----56-56
Total comprehensive income
---1,897569,18511,138
Transactions with Owners
Purchase of treasury stock
-(100)----(100)
Sale of treasury stock
-------
Transfer of treasury stock to employees
-------
Transfer of share option reserve to retained earnings
-------
Dividends
-88---(9,842)(9,754)
Gain/loss on sale of treasury stock transferred to retained earnings
-------
Total transactions with owners
-
(12)
--
-(9,842)(9,854)
Balance at 1 February 201729,279(1,642)12,617(521)25917,16957,161
The Notes to the Annual Accounts form an integral part of and are to be read in conjunction with these Financial Statements.
Group

HALLENSTEIN GLASSON HOLDINGS LIMITED
STATEMENT OF CASH FLOWS
FOR THE SIX MONTHS ENDED 1 FEBRUARY 2017 (unaudited)
Half Year
ended 1/2/17
Half Year
ended 1/2/16
$'000$'000
Cash Flows from Operating Activities
Receipts:
Sales to customers124,218112,709
Rent received387392
Interest from short term advances121206
Other interest1318
124,739113,325
Cash was applied to:
Payments to suppliers82,35384,730
Payments to employees23,73022,374
Interest paid--
Taxation paid3,5095,244
109,593112,348
Net cash flows from/(applied to) operating activities15,146977
Cash flows from investing activities
Cash was provided from:
Proceeds from sale of property, plant and equipment and intangible assets48
Repayment of Employee Advances97214
101222
Cash was applied to:
Purchase of property, plant and equipment and intangible assets7,9342,185
7,9342,185
Net cash flows from/(applied to) investing activities(7,833)(1,963)
Cash flows from financing activities
Dividends received for treasury stock 8882
8882
Cash was applied to:
Dividend paid9,8429,842
Purchase of treasury Stock100299
9,94210,141
Net cash flows from/(applied to) financing activities(9,854)(10,059)
Net increase/(decrease) in funds held(2,541)(11,045)
Opening cash position
Bank1,9784,598
Add:
Cash on hand6161
Short term deposits12,15219,062
12,21319,123
Net cash held at end of period14,19123,721
Closing cash position
Bank1,3842,879
Add:
Cash on hand6262
Short term deposits10,2049,735
10,2669,797
Net cash held at end of period11,65012,676
Net increase/(decrease) in funds held(2,541)(11,045)
The Notes to the Annual Accounts form an integral part of and are to be read in conjunction with these Financial Statements.
Group

HALLENSTEIN GLASSON HOLDINGS LIMITED
RECONCILIATION OF SURPLUS AFTER TAXATION TO CASH FLOWS
FROM OPERATING ACTIVITIES
FOR THE SIX MONTHS ENDED 1 FEBRUARY 2017 (unaudited)
Half Year
ended 1/2/17
Half Year
ended 1/2/16
$'000$'000
Reported surplus after taxation9,1856,817
Add/(deduct) items classified as investing or financing activities
(Gain)/ loss on sale of plant and equipment3111
Add/(deduct) non cash items
Depreciation and amortisation3,7463,890
Deferred taxation(453) (28)
Revaluation of Financial Instruments(338)
-
Notional Share Option Cost5671
Add/(deduct) movements in working capital items
Taxation payable582(2,502)
Receivables1,084(785)
Creditors and accruals(1,110)(6,695)
Inventories2,363198
Net cash flows from/(applied to) operating activities15,146977
The Notes to the Annual Accounts form an integral part of and are to be read in conjunction with these Financial Statements.

HALLENSTEIN GLASSON HOLDINGS LIMITED
SEGMENT RESULTS
FOR THE SIX MONTHS ENDED 1 FEBRUARY 2017 (unaudited)
For the period ended 1 February 2017
Glassons New
Zealand
Glassons
Australia
Hallenstein
Brothers
StormPropertyParentTotal Group
$000's $000's $000's $000's $000's $000's $000's
INCOME STATEMENT
Total sales revenue from external customers45,80226,04946,9044,156--122,911
Cost of Sales(19,687)(9,748)(20,623)(1,497)--(51,555)
Interest Income88-434--135
Depreciation and software amortisation1,2861,0231,151146140-3,746
Net Profit Before Tax5,7011,6405,02944410-12,824
Tax(1,613)(470)(1,428)(13)(115)-(3,639)
Net profit after tax4,0881,1703,601312959,185
BALANCE SHEET
Current Assets12,7103,9342,85712,033(16)2,01333,531
Non Current Assets10,3147,4269,4841,12414,534-42,882
Current Liabilities7,1915,2675,6029661933319,252
Purchase of property, plant and equipment and
intangibles
1,4622,6003,576296--7,934
For the period ended 1 February 2016
Glassons
New Zealand
Glassons
Australia
Hallenstein
Brothers
StormPropertyParentTotal Group
$000's $000's $000's $000's $000's $000's $000's
INCOME STATEMENT
Total sales revenue from external customers38,83521,11947,8984,547--112,399
Cost of Sales(17,840)(8,728)(20,478)(1,517)(48,563)
Interest Income8811276-2224
Depreciation and software amortisation1,3991,0321,185135139-3,890
Net Profit Before Tax1,930(1,085)7,6015994859,530
Tax(554)300(2,151)(172)(136)-(2,713)
Net profit after tax1,376(785)5,4504273496,817
BALANCE SHEET
Current Assets11,3825,17215,8142,232(5)17434,769
Non Current Assets10,5044,8057,60384214,73638,490
Current Liabilities5,3072,7564,9301,0481893214,262
Purchase of property, plant and equipment and
intangibles
1,275176685445-2,185