14
OPERATIONS REVIEW
Property, plant and equipment increased from US$61.5
million as at 31 December 2013 to US$66.6 million as at
31 December 2014mainly attributable to the capitalisation
of the building, plant and machineries of the Group’s India
upstream project.
Inventories increased from US$43.0 million as at 31
December 2013 to US$45.7 million as at 31 December
2014, because of the stock-up of inventories.
Trade payables and accruals increased from US$31.3
million as at 31 December 2013 to US$35.5 million
as at 31 December 2014, in line with the increase
in inventories.
Investment in associates decreased from US$14.8
million as at 31 December 2013 to US$10.7 million as
at 31 December 2014 mainly due to translation loss
recorded in Russian associates.
Trade receivables decreased from US$51.5 million
as at 31 December 2013 to US$40.4 million as at
31 December 2014 mainly due to translation loss of
its outstanding trade receivables denominated in
currencies other than the US dollar.
Christmas lucky draw winner in Nairobi, Kenya
Food Empire’s booth at the 2014 Gulfood Exhibition
MacCoffee promo girl poses for the camera
SALES TO THE GROUP’S OTHER MARKETS
GREW BY 41.3% FROM US$26.7 MILLION
IN FY2013 TO US$37.8 MILLION IN FY2014.
THE ROBUST PERFORMANCE WAS
UNDERPINNED BY A SIGNIFICANT INCREASE
IN BEVERAGE SALES IN SOUTH EAST ASIA
WHICH ACCOUNTED FOR OVER 50% OF
THE GROWTH.
Food Empire Holdings Limited Annual Report 2014
