71 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2022 Group Company 2022 2021 2022 2021 Note RM RM RM RM Revenue 5 410,423,156 360,165,936 16,317,975 18,127,187 Cost of sales (267,678,563) (220,057,324) (1,008,223) (1,318,126) Gross profit 142,744,593 140,108,612 15,309,752 16,809,061 Other operating income 6,092,228 5,406,488 41,770,780 10,445,185 Administrative expenses (90,424,370) (89,710,783) (18,509,584) (18,534,888) Distribution expenses (11,940,958) (8,988,766) (433,960) (117,044) Other operating expenses (2,626,446) (1,818,988) (333,212) (2,438,853) Finance costs (1,580,826) (2,309,759) (545,153) (1,040,093) Net (loss)/gain on impairment of financial assets (1,701,026) (1,682,740) 99,143 14,366,863 Share of gain/(loss) of associate, net of tax 17(g) 2,304 (320,060) - - Profit before taxation 6 40,565,499 40,684,004 37,357,766 19,490,231 Taxation 9 (12,240,539) (12,541,181) (36,574) (43,190) Profit for the financial year 28,324,960 28,142,823 37,321,192 19,447,041 Other comprehensive income Items that may be reclassified subsequently to profit or loss Foreign currency translations 9(d) 1,669,664 (2,041,361) - - Reclassification adjustment relating to a subsidiary disposed off during the financial year 248,826 - - - 1,918,490 (2,041,361) - - Item that will not be reclassified subsequently to profit or loss Remeasurement of defined benefit liability, net of tax 9(d) 1,080,392 - - - Total other comprehensive income/(loss), net of tax 2,998,882 (2,041,361) - - Total comprehensive income 31,323,842 26,101,462 37,321,192 19,447,041 STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022
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