MCK 2020 Interim Report

Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
1

Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
2

Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
3

Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
4

Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
5
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Dollars in thousandsNote
Unaudited
6 months
to 30/06/20
Unaudited
6 months
to 30/06/19
Revenue84,743 110,611
&RVWRIVDOHV (39,260) (46,512)
*URVVSURôW 45,483 64,099
Administrative expenses (10,416) (12,157)
Other operating expenses (9,674) (11,376)
2SHUDWLQJSURôWEHIRUHôQDQFH,QFRPH 25,393 40,566
Finance income 1 ,881 1,874
Finance costs (1,017) (1,441)
1HWôQDQFHLQFRPH 864 433
3URôWEHIRUHLQFRPHWD[ 26,257 40,999
Income tax expense9 (b) (7,367) (11,301)
,QFRPHWD[FUHGLWDULVLQJIURPFKDQJHLQEXLOGLQJGHSUHFLDWLRQ9 (b)20,060–
3URôWIRUWKHSHULRG38,950 29,698
3URôWIRUWKHSHULRGDWWULEXWDEOHWR
(TXLW\KROGHUVRIWKHSDUHQW34,090 23,805
1RQFRQWUROOLQJLQWHUHVWV4,860 5,893
3URôWIRUWKHSHULRG38,950 29,698
Basic earnings per share (cents)4FF
'LOXWHGHDUQLQJVSHUVKDUHFHQWV4FF
Condensed Interim Income Statement
For the six months ended 30 June 2020
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Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
6
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Dollars in thousandsNote
Unaudited
6 months
to 30/06/20
Unaudited
6 months
to 30/06/19
3URôWIRUWKHSHULRG38,950 29,698
2WKHUFRPSUHKHQVLYHLQFRPH
,WHPVWKDWZLOOQRWEHUHFODVVLôHGWRSURôWRUORVV
'HYDOXDWLRQRISURSHUW\SODQWDQGHTXLSPHQW9 (c)( 49,963) (7,565)
7D[H[SHQVHRQGHYDOXDWLRQRISURSHUW\SODQWDQGHTXLSPHQW9 (b) 13,990–
(35,973)(7,565)
,WHPVWKDWDUHRUPD\EHUHFODVVLôHGWRSURôWRUORVV
)RUHLJQH[FKDQJHWUDQVODWLRQPRYHPHQWV1,35039
- Tax (expense)/credit on foreign exchange9 (b)(2)–
1,348 39
7RWDOFRPSUHKHQVLYHLQFRPHIRUWKHSHULRG
4,325 22,172
7RWDOFRPSUHKHQVLYHLQFRPHIRUWKHSHULRGDWWULEXWDEOHWR
(TXLW\KROGHUVRIWKHSDUHQW (535) 17,098
1RQFRQWUROOLQJLQWHUHVWV 4,860 5,074
7RWDOFRPSUHKHQVLYHLQFRPHIRUWKHSHULRG4,325 22,172
'(7$,/62)63(&,),&5(&(,376287/$<65(9(18((;3(16(6
&ODVVLôHGXQGHU
Administrative expenses
Audit fees(159) (164)
Other operating expenses
'HSUHFLDWLRQRI3URSHUW\3ODQW (TXLSPHQW(4,292) (4,217)
Amortisation of Right-Of-Use Assets (823) (645)
/HDVLQJDQGUHQWDOH[SHQVHV(84) (106)
Finance income
Interest income1,849 1,868
Foreign exchange gain32 6
Finance costs
Interest expense(499) (867)
,QWHUHVWH[SHQVHRQOHDVHOLDELOLW\(499) (512)
)RUHLJQH[FKDQJHORVV(4) (62)
Condensed Interim Statement of Comprehensive Income
For the six months ended 30 June 2020
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Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
7
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Dollars in thousandsNote
Unaudited
6KDUH
&DSLWDO
Unaudited
5HYDOXDWLRQ
Reserves
Unaudited
([FKDQJH
Reserves
Unaudited
$FFXPXODWHG
/RVVHV
Unaudited
7UHDVXU\
6WRFN
Unaudited
7RWDO
Unaudited
Non-
FRQWUROOLQJ
,QWHUHVWV
Unaudited
7RWDO
(TXLW\
%DODQFHDW-DQXDU\ 383,266 236,999(3,022)23,042 (26)640,25983,614723,873
0RYHPHQWLQUHYDOXDWLRQ
reserve
- (6,746) - - - (6,746)(819)(7,565)
Movement in exchange
WUDQVODWLRQUHVHUYH
- - 39--39-39
Income and expense
UHFRJQLVHGGLUHFWO\LQHTXLW\
- (6,746)39 - - (6,707)(819)(7,526)
3URôWIRUWKHSHULRG - - - 23,805 - 23,8055,89329,698
7RWDOFRPSUHKHQVLYHLQFRPH
for the period
- (6,746)3923,805 - 17,0985,07422,172
Transactions with owners,
UHFRUGHGGLUHFWO\LQHTXLW\
'LYLGHQGVSDLGWR
(TXLW\KROGHUVRIWKH
parent
5 - - - (11,866) - (11,866) - (11,866)
1RQFRQWUROOLQJLQWHUHVWV - - - - - - (3,691)(3,691)
0RYHPHQWRIQRQFRQWUROOLQJ
interests without a change
LQFRQWURO
- - - (1) - (1)511510
6XSSOHPHQWDU\GLYLGHQGV5 - - - (311) - (311) - (311)
Foreign investment tax credits - - - 311 - 311 - 311
%DODQFHDW-XQH 383,266 230,253(2,983)34,980 (26)645,49085,508730,998
%DODQFHDW-DQXDU\ 383,266 274,495(3,319)60,837 (26)715,25391,747807,000
0RYHPHQWLQUHYDOXDWLRQ
reserve
- (35,973) - - - (35,973)-(35,973)
Movement in exchange
WUDQVODWLRQUHVHUYH
- - 1,348 - - 1,348 - 1,348
Income and expense
UHFRJQLVHGGLUHFWO\LQHTXLW\
- (35,973)1,348 - - (34,625)- (34,625)
3URôWIRUWKHSHULRG - - - 34,090 - 34,0904,86038,950
7RWDOFRPSUHKHQVLYHLQFRPH
for the period
- (35,973)1,34834,090 - (535)4,8604,325
Transactions with owners,
UHFRUGHGGLUHFWO\LQHTXLW\
'LYLGHQGVSDLGWR
(TXLW\KROGHUVRIWKH
parent
5 - - - (11,866) - (11,866) - (11,866)
1RQFRQWUROOLQJLQWHUHVWV - - - - - - (3,679)(3,679)
0RYHPHQWRIQRQFRQWUROOLQJ
interests without a change
LQFRQWURO
- - - (49) - (49)1,3291,280
6XSSOHPHQWDU\GLYLGHQGV5 - - - (256) - (256) - (256)
Foreign investment tax credits - - - 256 - 256 - 256
%DODQFHDW-XQH383,266238,522(1,971)83,012 (26)702,80394,257797,060
Condensed Interim Statement of Changes in Equity
For the six months ended 30 June 2020
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Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
8
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Dollars in thousandsNote
Unaudited
as at
30/06/20
Audited
as at
31/12/19
Unaudited
as at
30/06/19
6+$5(+2/'(56Ø(48,7<
,VVXHGFDSLWDO3 383,266 383,266 383,266
Reserves319,561332,013 262,250
Treasury stock3 (26) (26) (26)
1RQFRQWUROOLQJLQWHUHVWV94,25991,747 85,508
7RWDOHTXLW\797,060807,000 730,998
Represented by:
121&855(17$66(76
3URSHUW\SODQWDQGHTXLSPHQW9 (c)539,953591,749 539,492
'HYHORSPHQWSURSHUWLHV169,250176,579 186,216
Investment in associates 2 2 2
7RWDOQRQFXUUHQWDVVHWV709,205768,330 725,710
&855(17$66(76
&DVKDQGFDVKHTXLYDOHQWV26,30143,182 25,441
6KRUWWHUPEDQNGHSRVLWV156,045122,049 116,812
7UDGHDQGRWKHUUHFHLYDEOHV13,26321,138 14,296
7UDGHUHFHLYDEOHVGXHIURPUHODWHGSDUWLHV6 206 - 10
Inventories1,3151,615 1,518
'HYHORSPHQWSURSHUWLHV48,70551,88741,377
7RWDOFXUUHQWDVVHWV245,835239,871 199,454
7RWDODVVHWV955,0401,008,201 925,164
121&855(17/,$%,/,7,(6
,QWHUHVWEHDULQJORDQVDQGERUURZLQJV67,00067,000 64,000
/HDVH/LDELOLWLHV14,21914,370 14,541
Provision for deferred taxation9 (b)50,53584,968 75,972
7RWDOQRQFXUUHQWOLDELOLWLHV131,754166,338 154,513
&855(17/,$%,/,7,(6
,QWHUHVWEHDULQJORDQVDQGERUURZLQJV297 - 3,000
7UDGHDQGRWKHUSD\DEOHV9 (b)19,08424,562 22,431
7UDGHSD\DEOHVGXHWRUHODWHGSDUWLHV64,7434,054 3,686
/RDQVGXHWRUHODWHGSDUWLHV- - 9,000
/HDVH/LDELOLWLHV472429 411
,QFRPHWD[SD\DEOH1,6305,818 1,125
7RWDOFXUUHQWOLDELOLWLHV26,22634,863 39,653
7RWDOOLDELOLWLHV157,980201,201 194,166
Net assets797,060807,000 730,998
Condensed Interim Statement of Financial Position
As at 30 June 2020
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Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
9
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Dollars in thousandsNote
Unaudited
6 months
to 30/06/20
Unaudited
6 months
to 30/06/19
&$6+)/2:6)52023(5$7,1*$&7,9,7,(6
&DVKZDVSURYLGHGIURP
Receipts from customers
92,404 115,797
Interest received
1,858 2,242
94,262 118,039
&DVKZDVDSSOLHGWR
3D\PHQWVWRVXSSOLHUVDQGHPSOR\HHV
(47,010) (66,182)
3XUFKDVHRIGHYHORSPHQWODQG
- (7,624)
Interest paid
(655) (900)
Income tax paid(11,977) (17,017)
(59,642) (91,723)
1HWFDVKLQõRZIURPRSHUDWLQJDFWLYLWLHV34,620 26,316
&$6+)/2:6)520,19(67,1*$&7,9,7,(6
&DVKZDVSURYLGHGIURPDSSOLHGWR
3XUFKDVHRISURSHUW\SODQWDQGHTXLSPHQW
(3,167) (3,037)
Increase in short term bank deposits
(33,996) (8,523)
1HWFDVKRXWõRZIURPLQYHVWLQJDFWLYLWLHV(37,163) (11,560)
&$6+)/2:6)520),1$1&,1*$&7,9,7,(6
Drawdown of borrowings
297 3,000
$GYDQFHUHSD\PHQWRIUHODWHGSDUWLHVORDQV
- 9,000
3ULQFLSDOUHSD\PHQWRIOHDVHOLDELOLW\
(720) (676)
'LYLGHQGVSDLGWRVKDUHKROGHUVRI0LOOHQQLXP &RSWKRUQH
+RWHOV1HZ=HDODQG/WG5
(11,866) (11,866)
'LYLGHQGVSDLGWRQRQFRQWUROOLQJLQWHUHVWV
(3,679) (3,691)
1HWFDVKRXWõRZIURPôQDQFLQJDFWLYLWLHV(15,968) (4,233)
1HWGHFUHDVHLQFUHDVHLQFDVKDQGFDVKHTXLYDOHQWV
(18,511) 10,523
$GGRSHQLQJFDVKDQGFDVKHTXLYDOHQWV
43,182 14,437
Exchange rate adjustment
1 ,630 481
&ORVLQJFDVKDQGFDVKHTXLYDOHQWV26,301 25,441
Condensed Interim Statement of Cash Flows
For the six months ended 30 June 2020
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Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
10
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Dollars in thousandsNote
Unaudited
6 months
to 30/06/20
Unaudited
6 months
to 30/06/19
5(&21&,/,$7,212)1(7352),7)257+(3(5,2'
72&$6+)/2:6)52023(5$7,1*$&7,9,7,(6
3URôWIRUWKHSHULRG38,950 29,698
$GMXVWHGIRUQRQFDVKLWHPV
*DLQ/RVVRQ6DOHRI)L[HG$VVHWV- 6
)RUHLJQ([FKDQJH*DLQ/RVV(28) 56
Depreciation4,290 4,217
Amortisation of Right-Of-Use Assets 823 645
Income tax expense9 (b)(12,693) 11,301
$GMXVWPHQWVIRUPRYHPHQWVLQZRUNLQJFDSLWDO
'HFUHDVHLQUHFHLYDEOHV7,670 5,560
Decrease in inventories300 166
,QFUHDVH'HFUHDVHLQGHYHORSPHQWSURSHUWLHV11,576 (7,449)
,QFUHDVH'HFUHDVHLQSD\DEOHV(4,325) (1,289)
,QFUHDVH'HFUHDVHLQUHODWHGSDUWLHV689 1,322
&DVKJHQHUDWHGIURPRSHUDWLRQV47,252 44,233
Interest paid(655) (900)
Income tax paid(11,977) (17,017)
1HWFDVKLQõRZIURPRSHUDWLQJDFWLYLWLHV34,62026,316
5HFRQFLOLDWLRQRIPRYHPHQWRIOLDELOLWLHVWRFDVKõRZVDULVLQJ
IURPôQDQFLQJDFWLYLWLHV
$VDW-DQ67,00064,000
Proceeds from borrowings2973,000
&DVKJHQHUDWHGIURPRSHUDWLRQV2973,000
$VDW-XQ67,29767,000
Condensed Interim Statement of Cash Flows
For the six months ended 30 June 2020
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Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
11
Notes to the Condensed Interim Financial Statements
For the six months ended 30 June 2020 (unaudited)
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Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
12
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Group
Dollars in thousands
Unaudited
6 months
to 30/06/20
Unaudited
6 months
to 30/06/19
Unaudited
6 months
to 30/06/20
Unaudited
6 months
to 30/06/19
Unaudited
6 months
to 30/06/20
Unaudited
6 months
to 30/06/19
Unaudited
6 months
to 30/06/20
Unaudited
6 months
to 30/06/19
([WHUQDOUHYHQXH
35,755
64,463
40,955
40,291
8,033
5,857
84,743
110,611
(DUQLQJVEHIRUHLQWHUHVWGHSUHFLDWLRQ amortisation
8,582
22,636
18,589
20,494
3,337
2,298
30,508
45,428
Finance income
1,221
1,172
504
524
156
178
1,881
1,874
Finance expense
(1,015)
(1,437)
(1)
(2)
(1)
(2)
(1,017)
(1,441)
Depreciation and amortisation
(4,287)
(4,212)
-
-
(5)
(4)
(4,292)
(4,216)
Depreciation of Right-of-use assets
(811)
(634)
(7)
(7)
(5)
(5)
(823)
(646)
3URôWEHIRUHLQFRPHWD[
3,690
17,525
19,085
21,009
3,482
2,465
26,257
40,999
Income tax expense
(979)
(4,720)
(5,344)
(5,873)
(1,044)
(708)
(7,367)
(11,301)
,QFRPHWD[FUHGLWDULVLQJIURPFKDQJHLQEXLOGLQJdepreciation
20,060
-
- - -
-
20,060
-
3URôWDIWHULQFRPHWD[
22,771
12,805
13,741
15,136
2,438
1,757
38,950
29,698
6HJPHQWDVVHWV
638,991
638,961
244,037
220,560
72,010
65,641
955,038
925,162
Investment in associates
-
-
2
2
-
-
2
2
7RWDODVVHWV
638,991
638,961
244,039
220,562
72,010
65,641
955,040
925,164
6HJPHQWOLDELOLWLHV
(102,470)
(112,922)
(1,755)
(2,955)
(1,590)
(1,192)
(105,815)
(117,069)
7D[OLDELOLWLHV
(49,347)
(75,704)
(1,511)
(1,135)
(1,307)
(258)
(52,165)
(77,097)
7RWDOOLDELOLWLHV
(151,817)
(188,626)
(3,266)
(4,090)
(2,897)
(1,450)
(157,980)
(194,166)
3URSHUW\SODQWDQGHTXLSPHQWH[SHQGLWXUH
3,157
3,025
6
2
5
10
3,168
3,037
5HVLGHQWLDOODQGGHYHORSPHQWH[SHQGLWXUH
-
-
11,841
19,874
-
-
11,841
19,874
3XUFKDVHRIODQGIRUUHVLGHQWLDOODQGGHYHORSPHQW
-
-
- 7, 6 24
-
-
-
7, 6 24
Notes to the Condensed Interim Financial StatementsFor the six months ended 30 June 2020 (unaudited)0LOOHQQLXP &RSWKRUQH+RWHOV1HZ=HDODQG/LPLWHGDQG6XEVLGLDU
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Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
13
 6HJPHQWUHSRUWLQJÕFRQWLQXHG
E*HRJUDSKLF6HJPHQWV
1HZ=HDODQG
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Group
Unaudited
6 months
to 30/06/20
Unaudited
6 months
to 30/06/19
Unaudited
6 months
to 30/06/20
Unaudited
6 months
to 30/06/19
Unaudited
6 months
to 30/06/20
Unaudited
6 months
to 30/06/19
Dollars in thousands([WHUQDOUHYHQXH
70,716
104,754
8,033
5,857
84,743
110,611
(DUQLQJVEHIRUHLQWHUHVWGHSUHFLDWLRQ DPRUWLVDWLRQ
27,184
43,215
3,324
2,213
30,508
45,428
Finance income
1,725
1,696
156
178
1,881
1,874
Finance expense
(1,016)
(1,439)
(1)
(2)
(1,017)
(1,441)
Depreciation and amortisation
(4,287)
(4,212)
(5)
(4)
(4,292)
(4,216)
Depreciation of Right-of-use assets
(818)
(641)
(5)
(5)
(823)
(646)
3URôWEHIRUHLQFRPHWD[
22,788
38,619
3,469
2,380
26,257
40,999
Income tax expense
(6,326)
(10,596)
(1,041)
(705)
(7,367)
(11,301)
,QFRPHWD[FUHGLWDULVLQJIURPFKDQJHLQEXLOGLQJGHSUHFLDWLRQ
20,060
-
-
-
20,060
-
3URôWDIWHULQFRPHWD[
36,522
28,023
2,428
1,675
38,950
29,698
6HJPHQWDVVHWV
883,333
859,742
71,705
65,420
955,038
925,162
Investment in associates
2
2
-
-
2
2
7RWDODVVHWV
883,335
859,744
71,705
65,420
955,040
925,164
6HJPHQWOLDELOLWLHV
(104,263)
(115,918)
(1,552)
(1,151)
(105,815)
(117,069)
7D[OLDELOLWLHV
(50,859)
(76,839)
(1,306)
(258)
(52,165)
(77,097)
7RWDOOLDELOLWLHV
(155,122)
(192,757)
(2,858)
(1,409)
(157,980)
(194,166)
3URSHUW\SODQWDQGHTXLSPHQWH[SHQGLWXUH
3,163
3,027
5
10
3,168
3,037
5HVLGHQWLDOODQGGHYHORSPHQWH[SHQGLWXUH
11,841
19,874
-
-
11,841
19,874
3XUFKDVHRIODQGIRUUHVLGHQWLDOODQGGHYHORSPHQW
-
7,624
-
-
-
7,624
Notes to the Condensed Interim Financial StatementsFor the six months ended 30 June 2020 (unaudited)0LOOHQQLXP &RSWKRUQH+RWHOV1HZ=HDODQG/LPLWHGDQG6XEVLGLDU
LHV

Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
14
 6KDUHFDSLWDO
2UGLQDU\VKDUHV5HGHHPDEOHSUHIHUHQFHVKDUHV
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%DODQFHDW-XQH105,578,290350,04852,739,54333,218
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6KDUHVLVVXHGÕIXOO\SDLG
%DODQFHDW-XQH105,478,743350,02252,739,54333,218
%DODQFHDW-XQH105,478,743350,02252,739,54333,218
$W-XQHWKHDXWKRULVHGVKDUHFDSLWDOFRQVLVWHGRIRUGLQDU\VKDUHV
RUGLQDU\VKDUHVZLWKQRSDUYDOXHDQGUHGHHPDEOHSUHIHUHQFHVKDUHV
ZLWKQRSDUYDOXH
4. Earnings per share
7KHEDVLFHDUQLQJVSHUVKDUHRIFHQWV-XQHFHQWVLVEDVHGRQWKHSURôW
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Notes to the Condensed Interim Financial Statements
For the six months ended 30 June 2020 (unaudited)
0LOOHQQLXP &RSWKRUQH+RWHOV1HZ=HDODQG/LPLWHGDQG6XEVLGLDULHV

Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
15
5. Dividends
7KHIROORZLQJGLYLGHQGVZHUHSDLGGXULQJWKHLQWHULPSHULRGV
Group
Dollars In Thousands
Unaudited
30/06/20
Unaudited
30/06/19
2UGLQDU\GLYLGHQGFHQWVSHUTXDOLI\LQJVKDUH
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11,86611,866
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12,12212,177
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=HDODQG/LPLWHGZKLFKLVDZKROO\RZQHGVXEVLGLDU\RI0LOOHQQLXP &RSWKRUQH+RWHOVSOFLQWKH
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1DWXUHRIEDODQFHUnaudited
30/06/20
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30/06/19
7UDGHSD\DEOHVDQGUHFHLYDEOHVGXHWRUHODWHGSDUWLHV
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SURYLVLRQRI
management and
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&'/+RWHOV+ROGLQJV1HZ=HDODQG/LPLWHGRecharge of expenses3010
&'/+%9,2QH/LPLWHGRent payment(1,207)(868)
(4,537)(3,676)
/RDQVGXHWRUHODWHGSDUWLHV
&'/+RWHOV+ROGLQJV1HZ=HDODQG/LPLWHG,QWHUFRPSDQ\ORDQ
-(9,000)
-(9,000)
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Notes to the Condensed Interim Financial Statements
For the six months ended 30 June 2020 (unaudited)
0LOOHQQLXP &RSWKRUQH+RWHOV1HZ=HDODQG/LPLWHGDQG6XEVLGLDULHV

Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
16
7. Capital commitments
$VDW-XQHWKH*URXSKDVHQWHUHGLQWRFRQWUDFWXDOFRPPLWPHQWVIRUFDSLWDOH[SHQGLWXUH
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Group
Dollars In Thousands
Unaudited
30/06/20
Unaudited
30/06/19
&DSLWDOH[SHQGLWXUH4684,425
'HYHORSPHQWH[SHQGLWXUH19,16021,252
/DQGSXUFKDVHV1,27233,717
20,90059,394
 &KDQJHVLQFRQWLQJHQWOLDELOLWLHVDQGFRQWLQJHQWDVVHWVVLQFHODVWDQQXDOEDODQFH
sheet date
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7KHZDJHVXEVLGLHVZHUHDSSOLHGDVDGHGXFWLRQDJDLQVWSD\UROOFRVWVLQSHUVRQQHOH[SHQVHVLQDFFRUGDQFH
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Notes to the Condensed Interim Financial Statements
For the six months ended 30 June 2020 (unaudited)
0LOOHQQLXP &RSWKRUQH+RWHOV1HZ=HDODQG/LPLWHGDQG6XEVLGLDULHV

Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
17
 &29,'SDQGHPLFXSGDWHÕFRQWLQXHG
3HUVRQQHOH[SHQVHV
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Dollars In Thousands20202019
:DJHVDQGVDODULHV19,96222,576
:DJHVXEVLGLHV(5,507)-
(PSOR\HHUHODWHGH[SHQVHVDQGEHQHôWV464713
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15,23723,756
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Dollars In Thousands20202019
&XUUHQWWD[H[SHQVH
Current year7,75211,173
Adjustments for prior years--
7,75211,173
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Adjustments for prior years--
(20,445)129
7RWDOLQFRPHWD[H[SHQVHFUHGLWLQWKHLQFRPHVWDWHPHQW(12,693)11,301
Notes to the Condensed Interim Financial Statements
For the six months ended 30 June 2020 (unaudited)
0LOOHQQLXP &RSWKRUQH+RWHOV1HZ=HDODQG/LPLWHGDQG6XEVLGLDULHV

Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
18
 &29,'SDQGHPLFXSGDWHÕFRQWLQXHG
5HFRQFLOLDWLRQRIWD[H[SHQVH
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Dollars In Thousands20202019
3URôWEHIRUHLQFRPHWD[26,25740,999
,QFRPHWD[DWWKHFRPSDQ\WD[UDWHRI7,35211,480
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&KDQJHLQWUHDWPHQWRIEXLOGLQJGHSUHFLDWLRQ(20,060)-
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Dollars In Thousands20202019
5HODWLQJWRGHYDOXDWLRQRISURSHUW\SODQWDQGHTXLSPHQW(13,990)-
5HODWLQJWRIRUHLJQFXUUHQF\WUDQVODWLRQRIIRUHLJQVXEVLGLDULHV2-
(13,988)-
,QFRPHWD[RQWKHSURôWRUORVVIRUWKH\HDUFRPSULVHVFXUUHQWDQGGHIHUUHGWD[,QFRPHWD[LVUHFRJQLVHGLQ
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7KH*URXSØVKRWHOSURSHUWLHVZHUHVXEMHFWHGWRDQLQWHUQDOUHYLHZIRUIDLUYDOXHDWWKHUHSRUWLQJGDWH7KH
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Notes to the Condensed Interim Financial Statements
For the six months ended 30 June 2020 (unaudited)
0LOOHQQLXP &RSWKRUQH+RWHOV1HZ=HDODQG/LPLWHGDQG6XEVLGLDULHV

Millennium & Copthorne Hotels New Zealand Limited
Half Year Report 2020
19
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Notes to the Condensed Interim Financial Statements
For the six months ended 30 June 2020 (unaudited)
0LOOHQQLXP &RSWKRUQH+RWHOV1HZ=HDODQG/LPLWHGDQG6XEVLGLDULHV

Top Holders (Ordinary Shares) as at 17 August 2020
7RS+ROGHUV5HGHHPDEOH3UHIHUHQFH6KDUHVas at 17 August 2020
Shareholder Information and Disclosures
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