GOLDEN WHEAT MILLS(GMC) disclosed its financial statements for the first quarter of the year 2020.
| Disclosure Year | 2020 | 2019 | ||
| Disclosure Period | End of 3103 | End of 3103 | ||
| Disclosure Start Date | 01/01/2020 | 01/01/2019 | ||
| Disclosure End Date | 30/03/2020 | 30/03/2019 | ||
| Disclosure Type | Financial Disclosure | Financial Disclosure | ||
| Company's Name | GOLDEN WHEAT MILLS | GOLDEN WHEAT MILLS | ||
| Company Symbol | GMC | GMC | ||
| Sector | Industry Sector | Industry Sector | ||
| Currency | JD | JD | ||
| End date of legal disclosure period | 16/05/2020 | 29/04/2019 | ||
| Actual Disclosure Date | 09/05/2020 01:26:00 PM | 29/04/2019 01:44:00 PM | ||
| Hard Copy Disclosure | ||||
| Consolidation Status | Consolidated | Consolidated | ||
| Notes Display Source | Note ID Only | Note ID Only | ||
| Auditing Status | Unaudited | Unaudited | ||
| Net income in Cash Flow Statement | Income Before Tax | Income Before Tax |
| - | 2020 | 2019 | ||
| - | JD | JD | ||
| - | As a 30/03/2020 | As a 31/12/2019 | ||
| Note | Unaudited | Audited | ||
| Property, plant and equipment | 8,260,670 | 8,339,969 | ||
| investment properties | 117,982 | 118,677 | ||
| Available-for-sale financial assets | 363,092 | 371,948 | ||
| Total Fixed Assets | 8,741,744 | 8,830,594 | ||
| Inventory | 2,169,789 | 2,183,324 | ||
| Other Current Assets | 746,174 | 757,114 | ||
| Accounts Receivable | 7,029,355 | 6,911,186 | ||
| Cash and cash equivalents | 1,089,085 | 802,177 | ||
| Total Current Assets | 11,034,403 | 10,653,801 | ||
| Total assets | 19,776,147 | 19,484,395 | ||
| Paid-in Capital | 15,000,000 | 15,000,000 | ||
| Additional paid-in capital (Share premium) | 27,254 | 27,254 | ||
| Statutory reserve | 888,057 | 888,057 | ||
| Fair value adjustment reserve | (104,500) | (95,643) | ||
| Retained earnings | 1,198,127 | 1,006,084 | ||
| Non-controlling interests | (24,500) | (24,500) | ||
| Total Owners' Equity | 16,984,438 | 16,801,252 | ||
| Provision for employees' indemnity | 518,062 | 514,847 | ||
| Total non-current liabilities | 518,062 | 514,847 | ||
| Due to banks | 1,540,316 | 1,410,760 | ||
| Accounts Payable | 733,331 | 0 | ||
| Other current liabilities | 0 | 757,536 | ||
| Total Current Liabilities | 2,273,647 | 2,168,296 | ||
| Total Liabilities | 2,791,709 | 2,683,143 | ||
| Total Liabilities & Owners' Equity | 19,776,147 | 19,484,395 |
| - | 2020 | 2019 | ||
| - | JD | JD | ||
| - | End of 31032020 | End of 31032019 | ||
| Note | Unaudited | Unaudited | ||
| Sales | 2,248,871 | 2,135,167 | ||
| Cost of sales | (1,913,271) | (1,789,211) | ||
| General and administrative expenses | (108,447) | (135,420) | ||
| Selling and Distribution Expenses | (18,450) | (27,482) | ||
| Gains/Losses of foreign currency translation differences | 9,361 | 218,338 | ||
| Finance Expenses | (20,860) | (30,655) | ||
| Other revenues (expenses) | 10,841 | 3,114 | ||
| Net Income before tax | 208,045 | 373,851 | ||
| Income tax expense | (16,002) | (13,977) | ||
| Net Income after tax | 192,043 | 359,874 | ||
| Basic and diluted earnings (loss) per share | 0.013 | 0.024 | ||
| Change in fair value of available-for-sale-financial assets through other comprehensive income | (8,857) | (28,340) | ||
| Total Other Comprehensive Income | (8,857) | (28,340) | ||
| Net Comprehensive Income | 183,186 | 331,534 |
| - | Paid-in Capital | Additional Paid in capital | Statutory Reserve | Accumulated Change in Fair Value | Retained Earnings | Owners' Equity | Non-controlling interests | Total Owners' Equity | |
| Note | JD | JD | JD | JD | JD | JD | JD | JD | |
| 2020 | - | - | - | - | - | - | - | - | - |
|
Balance - Beginning of the period
|
15,000,000 | 27,254 | 888,057 | (95,643) | 1,006,084 | 16,825,752 | (24,500) | 16,801,252 | |
|
Net profit or (loss) for the period after tax
|
- | - | - | - | 192,043 | 192,043 | - | 192,043 | |
|
Other Comprehensive Income
|
- | - | - | (8,857) | - | (8,857) | - | (8,857) | |
|
Total Comprehensive Income for the Period
|
0 | 0 | 0 | (8,857) | 192,043 | 183,186 | 0 | 183,186 | |
|
Balance - End of the period
|
15,000,000 | 27,254 | 888,057 | (104,500) | 1,198,127 | 17,008,938 | (24,500) | 16,984,438 | |
| 2019 | - | - | - | - | - | - | - | - | - |
| Balance - Beginning of the period | 15,000,000 | 27,254 | 806,539 | (85,016) | 272,421 | 16,021,198 | (24,500) | 15,996,698 | |
| Net profit or (loss) for the period after tax | - | - | - | - | 359,874 | 359,874 | - | 359,874 | |
| Other Comprehensive Income | - | - | - | (28,340) | - | (28,340) | - | (28,340) | |
| Total Comprehensive Income for the Period | 0 | 0 | 0 | (28,340) | 359,874 | 331,534 | 0 | 331,534 | |
| Transferred to Statutory Reserve | - | - | 35,987 | - | (35,987) | 0 | - | 0 | |
| Balance - End of the period | 15,000,000 | 27,254 | 842,526 | (113,356) | 596,308 | 16,352,732 | (24,500) | 16,328,232 |
| - | 2020 | 2019 | ||
| - | JD | JD | ||
| - | End of 31032020 | End of 31032019 | ||
| Note | Unaudited | Unaudited | ||
| Net Income before/after tax | 208,045 | 373,851 | ||
| Depreciation and Amortization expense | 80,973 | 81,993 | ||
| Change in end of service allowance payments | 3,215 | 24,775 | ||
| Finance Expenses | 20,860 | 30,655 | ||
| Interest income | (3,774) | - | ||
| Change in inventory | 13,535 | 853,008 | ||
| Change in Other Current Assets | 10,940 | (270,337) | ||
| Change in Accounts Receivable | (118,169) | 258,889 | ||
| Change in Accounts Payable | 0 | (189,021) | ||
| Change in Other Current Liabilities | (24,205) | 0 | ||
| Tax paid | (16,002) | (13,977) | ||
| Net Cash Flow from Operating Activities | 175,418 | 1,149,836 | ||
| Purchase of investment properties | 0 | (920) | ||
| Purchase of Property, Plant and Equipment | (980) | 3,419 | ||
| Interest income received | 3,774 | - | ||
| Net Cash Flow from Investing Activities | 2,794 | 2,499 | ||
| Change in loans | 129,556 | (1,277,953) | ||
| Finance Expenses paid | (20,860) | (34,074) | ||
| Net Cash Flow from Financing Activities | 108,696 | (1,312,027) | ||
| Net change in cash and cash equivalents | 286,908 | (159,692) | ||
| Cash and cash equivalents, beginning of Period | 802,177 | 582,073 | ||
| Cash and cash equivalents, end of period | 1,089,085 | 422,381 |
Palestine Exchange: Received Disclosed Interim Financial Statements of GOLDEN WHEAT MILLS(GMC) for the 1st Quarter of 2020
The Palestine Exchange (PEX) received the Unaudited & Consolidated interim financial statements for 1st Quarter of 2020 from GOLDEN WHEAT MILLS(GMC).
According to financial statements for 1st Quarter of 2020, Net profit after tax of the period reached 192,043 JD Compared with Net profit after tax 359,874 JD for 2019, a net decrease in profit of 46.64%.Total assets of the company reached 19,776,147 JD compared with total assets of 19,484,395 JD at the end of year 2019, a net increase of 1.50%.Total liabilities of the company reached 2,791,709 JD compared with total liabilities of 2,683,143 JD at the end of year 2019, a net increase of 4.04%. Net ownership equity of the company reached 16,984,438 JD (Including None-Controlling Interests of -24,500 JD) compared with total owner equity of 16,801,252 JD (Including None-Controlling Interests of -24,500 JD) at the end of year 2019, a net increase of 1.09%.
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