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Interim Condensed Consolidated Statement of Financial Position as at 30 June 2016

8/29/2016
Interim Condensed Consolidated Statement of Financial Position as at 30 June 2016
 

 

 

(Unaudited)
30 June
2016

 

(Audited)
31 December
2015

 

(Unaudited)
30 June
2015

 

Notes

KD’000

 

KD’000

 

KD’000

Assets

 

 

 

 

 

 

Cash and bank balances

3

28,152

 

30,367

 

25,531

Other receivables and prepayments

 

1,459

 

1,379

 

816

Instalment debtors

4

251,684

 

253,621

 

243,707

Financial assets at fair value through profit or loss

 

6,708

 

8,132

 

8,810

Available-for-sale investments

5

26,581

 

22,762

 

17,809

Investment in associates

6

13,191

 

12,919

 

13,020

Investment property

 

4,358

 

1,739

 

1,952

Property and equipment

 

2,238

 

2,293

 

2,129

Total assets

 

334,371

 

333,212

 

313,774

 

 

 

 

 

 

 

Liabilities and equity

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Due to banks

3

445

 

556

 

229

Trade creditors and other liabilities

 

5,588

 

6,473

 

6,549

Term loans

7

161,536

 

153,811

 

126,330

Bonds

 

-

 

-

 

12,500

Provision for staff indemnity

 

4,229

 

4,145

 

4,010

Total liabilities

 

171,798

 

164,985

 

149,618

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

Share capital

 

53,676

 

53,676

 

53,676

Share premium

 

1,433

 

1,433

 

1,433

Legal reserve

 

46,566

 

46,566

 

45,660

Voluntary reserve

 

48,093

 

48,093

 

48,093

Fair value reserve

 

2,991

 

2,923

 

3,052

Foreign currency translation reserve

 

812

 

949

 

921

Land revaluation reserve

 

899

 

899

 

704

Treasury shares

9

(10,954)

 

(10,945)

 

(10,707)

Gain on sale of treasury shares

 

14

 

47

 

47

Retained earnings

 

19,043

 

24,586

 

21,277

Total equity

 

162,573

 

168,227

 

164,156

Total liabilities and equity

 

334,371

 

333,212

 

313,774



 
 

 




Three-month
period ended

 




Six -month
period ended

 

 

30 June
2016

 

30 June
2015

 

30 June
2016

 

30 June
2015

 

Notes

KD’000

 

KD’000

 

KD’000

 

KD’000

Income from instalment credit

 

4,292

 

4,360

 

8,576

 

8,410

 

 

 

 

 

 

 

 

 

Share of results of associates

6

114

 

321

 

273

 

460

Other income

 

616

 

355

 

1,267

 

959

Rental income and investment property

 

75

 

-

 

139

 

-

Net foreign exchange gain

 

47

 

-

 

254

 

-

Total other income

 

852

 

676

 

1,933

 

1,419

 

 

 

 

 

 

 

 

 

Borrowing costs

 

(1,152)

 

(965)

 

(2,251)

 

(1,870)

Staff costs and related expenses

 

(617)

 

(694)

 

(1,228)

 

(1,417)

General and administrative expenses

 

(170)

 

(383)

 

(335)

 

(764)

Net losses from investments

10

(513)

 

194

 

(1,191)

 

(127)

Net foreign exchange losses

 

-

 

(58)

 

-

 

(116)

Total other expenses

 

(2,452)

 

(1,906)

 

(5,005)

 

(4,294)

Profit before provision for credit losses and impairment losses

 

               2,692

 


3,130

 

      5,504

 


5,535

Provision for doubtful debts

 

(1,042)

 

(209)

 

(2,146)

 

(862)

Impairment losses on available-for-sale investments


5

                   (44)

 


(16)

 

              (44)

 


(63)

Profit before provisions for contribution to Kuwait Foundation for the Advancement of Sciences (“KFAS”), National Labour Support Tax (“NLST”), Zakat and Directors’ remuneration

 





1,606

 





2,905

 

 



3,314

 





4,610

Provision for KFAS

 

(16)

 

(29)

 

(33)

 

(46)

Provision for NLST and Zakat

 

(54)

 

(93)

 

(102)

 

(143)

Provision for Directors’ remuneration

 

(27)

 

(31)

 

(53)

 

(63)

Profit  for the period

 

1,509

 

2,752

 

3,126

 

4,358

 

 

 

 

 

 

 

 

 

Earnings  per share

12

3 Fils

 

5 Fils

 

6 Fils

 

8 Fils