STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2018

CONSOLIDATED
June June
2018 2017
Note $000 $000

Current Assets
Cash and cash equivalents 28(a) 170,544 80,224
Trade and other receivables 7 724,690 640,686
Other financial assets 8 31,463 29,191
Inventories 9 345,287 315,968
Other assets 10 45,144 45,878
Intangible assets 11 490 486
Total current assets 1,317,618 1,112,433

Non-Current Assets
Trade and other receivables 12 78,443 78,777
Investments accounted for using equity method 37 4,497 26,355
Other financial assets 13 18,283 30,076
Property, plant and equipment 14 660,337 625,112
Investment properties 15 2,429,397 2,241,754
Intangible assets 16 69,067 75,237
Total non-current assets 3,260,024 3,077,311

Total Assets 4,577,642 4,189,744

Current Liabilities
Trade and other payables 17 289,986 238,628
Interest-bearing loans and borrowings 18 422,191 386,651
Income tax payable 15,608 42,541
Other liabilities 19 66,825 41,571
Provisions 20 35,354 34,034
Total current liabilities 829,964 743,425

Non-Current Liabilities
Interest-bearing loans and borrowings 21 503,203 333,858
Provisions 20 11,645 13,052
Deferred income tax liabilities 5(d) 280,735 267,219
Other liabilities 23 14,163 19,283
Total non-current liabilities 809,746 633,412

Total Liabilities 1,639,710 1,376,837

NET ASSETS 2,937,932 2,812,907

Equity
Contributed equity 24 388,381 386,309
Reserves 25 185,384 174,950
Retained profits 26 2,337,241 2,229,200
Parent entity interests 2,911,006 2,790,459
Non-controlling interests 27 26,926 22,448
TOTAL EQUITY 2,937,932 2,812,907

The above Statement of Financial Position should be read in conjunction with the accompanying notes.

HARVEY NORMAN HOLDINGS LIMITED | ANNUAL REPORT 2018 67

INCOME STATEMENT FOR THE YEAR ENDED 30 JUNE 2018

CONSOLIDATED
June June
2018 2017
Note $000 $000

Sales revenue 3 1,993,760 1,833,123

Cost of sales (1,326,339) (1,235,602)
Gross profit 667,421 597,521

Revenues and other income items 3 1,240,703 1,305,344

Distribution expenses (41,602) (36,189)
Marketing expenses (374,322) (384,885)
Occupancy expenses 4 (241,220) (226,994)
Administrative expenses 4 (585,683) (492,453)
Other expenses 4 (114,573) (107,666)
Finance costs 4 (26,344) (20,072)
Share of net profit of joint ventures entities 37 5,792 5,200
Profit before income tax 530,172 639,806
Income tax expense 5(a) & 5(c) (150,122) (186,840)
Profit after tax 380,050 452,966

Attributable to:
Owners of the parent 375,378 448,976
Non-controlling interests 4,672 3,990
380,050 452,966

Earnings Per Share:

Basic earnings per share (cents per share) 6 33.71 cents 40.35 cents
Diluted earnings per share (cents per share) 6 33.67 cents 40.30 cents

Dividends per share (cents per share) 26 30.0 cents 26.0 cents

The above Income Statement should be read in conjunction with the accompanying notes.

68
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2018

CONSOLIDATED
June June
2018 2017
$000 $000

Profit for the year 380,050 452,966

Items that may be reclassified subsequently to profit or loss:

Foreign currency translation (221) (6,942)
Net fair value (losses) / gains on available-for-sale investments (1,830) 4,050
Net movement on cash flow hedges 16 18
Income tax effect on net movement on cash flow hedges (4) (6)

Items that will not be reclassified subsequently to profit or loss:

Fair value revaluation of land and buildings 15,553 25,467
Income tax effect on fair value revaluation of land and buildings (2,693) (5,362)

Other comprehensive income for the year (net of tax) 10,821 17,225

Total comprehensive income for the year (net of tax) 390,871 470,191

Total comprehensive income attributable to:

Owners of the parent 385,067 467,496
Non-controlling interests 5,804 2,695
390,871 470,191

The above Statement of Comprehensive Income should be read in conjunction with the accompanying notes.

HARVEY NORMAN HOLDINGS LIMITED | ANNUAL REPORT 2018 69

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2018
Attributable to Equity Holders of the Parent
Contributed Retained Asset Foreign Available for Cash Flow Employee Acquisition Non- TOTAL
Equity Profits Revaluation Currency Sale Reserve Hedge Reserve Equity Reserve controlling EQUITY
Reserve Translation Benefits Interests
Reserve Reserve
$000 $000 $000 $000 $000 $000 $000 $000 $000 $000
At 1 July 2017 386,309 2,229,200 131,304 42,374 13,732 (20) 9,611 (22,051) 22,448 2,812,907
Other comprehensive income:
Revaluation of land and buildings - - 13,222 - - - - - (362) 12,860
Reverse expired or realised cash
flow hedge reserves - - - - - 20 - - - 20
Currency translation differences - - - (1,715) - - - - 1,494 (221)
Fair value of forward foreign exchange
contracts - - - - - (8) - - - (8)
Fair value of available for sale
financial assets - - - - (1,830) - - - - (1,830)
Other comprehensive income - - 13,222 (1,715) (1,830) 12 - - 1,132 10,821
Profit for the year - 375,378 - - - - - - 4,672 380,050
Total comprehensive income for the
year - 375,378 13,222 (1,715) (1,830) 12 - - 5,804 390,871
Cost of share based payments - - - - - - 745 - - 745
Shares issued 2,072 - - - - - - - - 2,072
Dividends paid - (267,337) - - - - - - (976) (268,313)
Distribution to members - - - - - - - - (350) (350)
At 30 June 2018 388,381 2,337,241 144,526 40,659 11,902 (8) 10,356 (22,051) 26,926 2,937,932
The above Statement of Changes in Equity should be read in conjunction with the accompanying notes.
HARVEY NORMAN HOLDINGS LIMITED | ANNUAL REPORT 2018 70