GHL System Berhad Annual Report 2020

76 G H L S y s t e m S B e r h a d 1 9 9 4 0 1 0 0 7 3 6 1 ( 2 9 3 0 4 0 - D ) Group Company 2020 2019 2020 2019 Note RM RM RM RM Revenue 5 334,513,677 347,643,337 12,454,126 14,263,658 Cost of sales (190,188,144) (197,232,139) (1,344,423) (2,897,441) Gross profit 144,325,533 150,411,198 11,109,703 11,366,217 Other operating income 11,796,037 13,727,333 21,506,264 32,598,932 Administrative expenses (96,542,291) (96,298,724) (15,537,117) (15,177,275) Distribution expenses (8,203,830) (10,299,126) (445,750) (1,038,345) Other operating expenses (27,582,056) (10,521,500) (11,587,481) (9,339,137) Finance costs (2,326,021) (2,909,481) (8,132) (12,801) Share of loss of joint ventures and associate, net of tax 17(g) (147,601) (554,516) - - Profit before tax 6 21,319,771 43,555,184 5,037,487 18,397,591 Taxation 9 (12,198,551) (12,690,977) 94,939 211,055 Profit for the financial year from continuing operations 9,121,220 30,864,207 5,132,426 18,608,646 Loss for the financial year from discontinued operations 16(e) (2,103,800) (3,845,604) - - Profit for the financial year 7,017,420 27,018,603 5,132,426 18,608,646 Other comprehensive income Items that may be reclassified subsequently to profit or loss Foreign currency translations 9(d) (1,393,331) 1,751,543 - - Reclassification adjustment relating to a subsidiary disposed off during the year (75,861) (12,373) - - Item that will not be reclassified subsequently to profit or loss Remeasurement of defined benefit liability, net of tax 9(d) (364,927) 59,496 - - Total other comprehensive (loss)/income, net of tax (1,834,119) 1,798,666 - - Total comprehensive income 5,183,301 28,817,269 5,132,426 18,608,646 STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020