FGV Annual Report 2016

ANNUAL INTEGRATED REPORT 2016 335 FINANCIAL REPORT NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016 58 RESTATEMENT AND EFFECTS OF CHANGE IN ACCOUNTING POLICY (CONTINUED) Impact of change in accounting policy and fraud losses on Statements Comprehensive Income Financial year ended 31 December 2016 Financial year ended 31 December 2015 Previous policy RM'000 Effects on current year As presented RM'000 Previous policy RM'000 Adjustments As restated RM'000 (a) RM'000 (b) RM'000 (a) RM'000 (b) RM'000 Cost of sales (15,757,180) 85,699 - (15,671,481) (13,696,615) 83,965 - (13,612,650) Included in cost of sales: - replanting expenditure (330,582) 330,582 - - (174,961) 174,961 - - - other expenses - - - - - 77,068 - 77,068 - depreciation of property, plant and equipment (444,372) (233,420) - (677,792) (459,008) (160,783) - (619,791) - write offs of property, plant and equipment (6,510) (11,463) - (17,973) (30,280) (7,281) - (37,561) Operating profit 292,099 85,699 - 377,798 437,264 83,965 - 521,229 Share of results from joint ventures (3,355) - (16,123) (19,478) 50,402 - (10,380) 40,022 Profit before zakat and taxation 193,490 85,699 (16,123) 263,066 378,967 83,965 (10,380) 452,552 Taxation (153,466) (22,612) - (176,078) (128,433) (7,738) - (136,171) Profit for the financial year from continuing operations 22,259 63,087 (16,123) 69,223 226,634 76,227 (10,380) 292,481 Profit for the financial year 19,495 63,087 (16,123) 66,459 301,277 76,227 (10,380) 367,124 Profit attributable to: Owners of the Company (25,632) 73,221 (16,123) 31,466 106,986 85,710 (10,380) 182,316 Non-controlling interests 45,127 (10,134) - 34,993 194,291 (9,483) - 184,808 19,495 63,087 (16,123) 66,459 301,277 76,227 (10,380) 367,124 Basic and diluted EPS: - From continuing operations (0.7) 2.0 (0.4) 0.9 0.9 2.4 (0.3) 3.0 - From discontinuing operations - - - - 2.0 - - 2.0