74 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2021 Group Company 2021 2020 2021 2020 Note RM RM RM RM Revenue 5 360,165,936 334,513,677 18,127,187 12,454,126 Cost of sales (220,057,324) (190,188,144) (1,318,126) (1,344,423) Gross profit 140,108,612 144,325,533 16,809,061 11,109,703 Other operating income 1,446,166 2,300,518 10,445,185 12,686,277 Administrative expenses (86,257,389) (96,542,291) (17,206,193) (15,537,117) Distribution expenses (8,988,766) (8,203,830) (117,044) (445,750) Other operating expenses (5,272,382) (19,131,610) (3,767,548) (4,540,289) Finance costs (2,309,759) (2,326,021) (1,040,093) (8,132) Net gains on impairment of financial assets 2,277,582 1,045,073 14,366,863 1,772,795 Share of loss of associate, net of tax 17(g) (320,060) (147,601) - - Profit before taxation 6 40,684,004 21,319,771 19,490,231 5,037,487 Taxation 9 (12,541,181) (12,198,551) (43,190) 94,939 Profit for the financial year from continuing operations 28,142,823 9,121,220 19,447,041 5,132,426 Loss for the financial year from discontinued operation 16(e) - (2,103,800) - - Profit for the financial year 28,142,823 7,017,420 19,447,041 5,132,426 Other comprehensive income Items that may be reclassified subsequently to profit or loss Foreign currency translations 9(d) (2,041,361) (1,393,331) - - Reclassification adjustment relating to a subsidiary disposed off during the financial year - (75,861) - - (2,041,361) (1,469,192) - - Item that will not be reclassified subsequently to profit or loss Remeasurement of defined benefit liability, net of tax 9(d) - (364,927) - - Total other comprehensive loss, net of tax (2,041,361) (1,834,119) - - Total comprehensive income 26,101,462 5,183,301 19,447,041 5,132,426 STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
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