FGV Annual Report 2015

243 WHO WE ARE & WHAT WE DO OUR STRATEGIC INTENT & PERFORMANCE HOWWE ARE GOVERNED CREATING SUSTAINABLE VALUE OUR NUMBERS ADDITIONAL INFORMATION DETAILS OF THE ANNUAL GENERAL MEETING Notes to the Financial Statements For The Financial Year Ended 31 December 2015 ADDRESSING OUR RISKS & OPPORTUNITIES Felda Global Ventures Holdings Berhad Annual Integrated Report 2015 17 EARNINGS PER SHARE (CONTINUED) The basic earnings per share (“EPS”) has been calculated based on the consolidated profit after taxation attributable to equity shareholders of the Company and divided by the weighted number of ordinary shares in issue. Group 2015 2014 Profit from continuing operations attributable to equity shareholders (RM’000) 32,343 467,019 Profit from discontinued operations attributable to equity shareholders (RM’000) 74,643 (141,532) Profit for the financial year attributable to equity shareholders (RM’000) 106,986 325,487 Weighted average number of ordinary shares in issue (thousands) 3,648,152 3,648,152 18 SEGMENT REPORTING Operating segments are reported in a manner consistent with the internal management reporting provided to the chief operating decision maker (“CODM”), which is the Executive Committee (“EXCO”). The EXCO considers the business by product related activities. The reportable segments for the financial year ended 31 December 2015 have been identified as follows: • Palm Upstream – Plantation estates activities including cultivation, harvesting and production of fresh fruit bunches (“FFB”) and processing of FFB into crude palm oil and palm kernel (“PK”). • Palm Downstream – Refining of CPO, fractionation of refined bleached deodorised palm oil (“RBDPO”) and Palm Olein (“PO”), crushing of PK, processing and sales of biodiesel products, production of oleochemicals namely fatty acid and glycerine, production of graphene and nanotubes and production of consumer bulk and packed products. • Sugar – Sugar refining and sales and marketing of refined sugar and molasses. • Trading, Marketing and Logistics (“TML”) – Trading, bulking and transportation facilities. • Others – Rubber processing, research and development activities, fertilisers processing and production, sale of planting materials, services, information technology, security and travel. The reportable segments have changed from the previous financial year due to the changes in the internal management reporting structure of the CODM. Comparatives have been restated to conform to the revised reportable segments. The Group embarked on a new tolling and trading model starting February 2015. This involved changes throughout the Palm Plantation, Palm Downstream and TML segments which renders the 2015 results not comparable to the previous financial results. In the current financial year, most of the CPO sales are recorded as internal to FGV Trading Sdn. Bhd. which belongs to the TML segment instead of Palm Upstream directly selling externally in 2014. Reconciliation to the reportable segments mainly relates to the inclusion of investment holding companies within the Group and Group consolidation adjustments, which did not form part of the reportable segments. The discontinuing operations mainly relates to crushing soy and canola under the Canadian operation, which was disposed on 3 November 2015 and cocoa business, which the Group had previously approved to exit. The EXCO assesses the performance of the operating segments based on profit before zakat and taxation.