Financials | HELP International Corporation

Financials

Quarterly Report For The Period Ended 31 July 2009

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Unaudited Condensed Consolidated Income Statement For The Period Ended 31 July 2009

		Current Year Quarter 31/7/2009 RM'000	Preceding Year Quarter 31/7/2008 RM'000	Current Year-To-Date 31/7/2009 RM'000	Preceding Year-To-Date 31/7/2008 RM'000
Revenue		21,594	18,275	70,376	60,383
Other Operating Income		1,309	795	3,630	2,962
Other Operating Expenses		(18,637)	(16,434)	(59,535)	(52,689)
		4,266	2,636	14,471	10,656
Finance Cost		(1)	(1)	(3)	(3)

Profit Before Taxation		4,265	2,635	14,468	10,653
Taxation	B(5)	(1,346)	(1,017)	(4,992)	(3,854)
Profit For The Financial Period		2,919	1,618	9,476	6,799

Attributable To:
Equity holders Of The Company		2,919	1,626	9,476	6,812
Minority Interests		-	(8)	-	(13)
		2,919	1,618	9,476	6,799

Earnings Per Share Attributable To The Equity Holders Of The Company (sen)
Basic Earnings Per Share		3.3	1.8	10.7	7.7
Fully Diluted Earnings Per Share		N/A	N/A	N/A	N/A

(The Condensed Consolidated Income Statement should be read in conjunction with the Annual Financial Report for the year ended 31 October 2008)

Review of Performance

For the third quarter under review, the Group's revenue increased by 18% from RM18.3 million last year to RM21.6 million. The Group's profit before taxation grew by 62% from RM2.6 million last year to RM4.3 million.

For the period ended 31 July 2009, the Group's revenue increased by 17% from RM60.4 million last year to RM70.4 million. In line with the higher revenue achieved, the Group's profit before taxation for the period ended 31 July 2009 increased by 36% from RM10.7 million last year to RM14.5 million.

The growth in revenue and profits for both the third quarter and financial year-to-date was driven by higher student numbers and increase in the number of programmes offered.

Condensed Consolidated Balance Sheet As At 31 July 2009

	Unaudited As at end of Current Quarter 31/7/2009 RM'000	Audited As at preceding financial year ended 31/10/2008 RM'000
NON-CURRENT ASSETS
Property and equipment	46,469	47,910
Intangible assets	3,487	3,490
	49,956	51,400

CURRENT ASSETS
Trade receivables	6,168	2,608
Other receivables	7,561	8,322
Tax recoverable	35	85
Cash and cash equivalents	72,447	74,005
	86,211	85,020

CURRENT LIABILITIES
Fees received in advance	17,922	18,499
Other payables	24,162	32,636
Hire purchase creditors	7	14
Tax payable	123	294
	42,214	51,443
NET CURRENT ASSETS	43,997	33,577
	93,953	84,977

EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY
Share capital	44,388	44,388
Share premium	2,533	2,533
Retained earnings	43,559	36,080

Total Equity	90,480	83,001

NON-CURRENT LIABILITIES
Deferred tax liabilities	3,473	1,973
Hire purchase creditors	-	3
	3,473	1,976
	93,953	84,977
Net Assets Per Share (RM)	1.02	0.93

(The Condensed Consolidated Balance Sheet should be read in conjunction with the Annual Financial Report for the year ended 31 October 2008)