McPHERSON’S LIMITED
ANNUAL REPORT 2015
85
NOTE 35. DEED OF CROSS GUARANTEE
McPherson’s Limited, and the following controlled entities, are parties to a Deed of Cross Guarantee under which each company guarantees the
debts of the others.
•McPherson’s Consumer Products Pty Ltd
•Multix Pty Ltd
•Domenica Pty Ltd
By entering into the Deed, the wholly-owned entities have been relieved from the requirement to prepare a Financial Report and Directors’ Report
under Class Order 98/1418 (as amended) issued by the Australian Securities and Investment Commission.
(A) CONDENSED CONSOLIDATED INCOME STATEMENT AND A SUMMARY OF MOVEMENTS IN
CONSOLIDATED RETAINED EARNINGS
The above companies represent a ‘Closed Group’ for the purposes of the Class Order, and as there are no other parties to the Deed of Cross
Guarantee that are controlled by McPherson’s Limited, they also represent the ‘Extended Closed Group’.
Set out below is a consolidated income statement and a summary of movements in consolidated retained profits for the year ended 30 June 2015
of the Closed Group.
2015
$’000
2014
1
$’000
Income statement
Revenue
244,607
257,279
Other income
6,309
558
Expenses
(237,271)
(319,631)
Finance costs
(7,503)
(7,046)
Share of net profit of associates accounted for using the equity method
928
-
Profit / (loss) before income tax
7,070
(68,840)
Income tax expense
(209)
(1,769)
Profit / (loss) for the year
6,861
(70,609)
Summary of movements in consolidated retained earnings
Retained earnings at beginning of the financial year
(76,765)
5,735
Profit / (loss) after income tax for the year
6,861
(70,609)
Dividends provided for or paid
(10,573)
(11,891)
Accumulated losses at the end of the financial year
(80,477)
(76,765)
1. See Note 1(A) for details regarding the restatement as a result of an error