ANNUAL REPORT
2016
.75
NOTES TO THE
FINANCIAL STATEMENTS
4.
FINANCIAL INFORMATION BY OPERATING SEGMENTS
4A.
Information about reportable segment profit or loss, assets and liabilities
Disclosure of information about operating segments, products and services, the geographical areas, and the major
customers are made as required by FRS 108 Operating Segments. This disclosure standard has no impact on the
reported financial performance or financial position of the reporting entity.
For management purposes the reporting entity is organised into the following major strategic operating segments
that offer different products and services: (1) automobiles distribution and (2) watches business. Such a structural
organisation is determined by the nature of risks and returns associated with each business segment and it defines
the management structure as well as the internal reporting system. It represents the basis on which the management
reports the primary segment information that is available and that is evaluated regularly by the chief operating
decision maker in deciding how to allocate resources and in assessing the performance. They are managed
separately because each business requires different strategies.
The principal segments and type of products and services are as follows:
(1)
Automobiles distribution business retails new luxury automobiles as well as pre-owned automobiles.
(2)
Watches business comprising trading and distribution of watches and related accessories.
Inter-segment sales are measured on the basis that the entity actually used to price the transfers. Internal transfer
pricing policies of the reporting entity are as far as practicable based on market prices. The accounting policies of
the operating segments are the same as those described in the significant accounting policies.
The following tables illustrate the information about the reportable segment profit or loss, assets and liabilities.
4B.
Profit or loss from continuing operations and reconciliation
2016
$กฏ000
2015
$กฏ000
Revenue by segment
Automobiles distribution
61,285
39,009
Watches business
2,246
1,365
Total
63,531
40,374
Segment result
Automobiles distribution
(3,752)
(4,525)
Watches business
(662)
(316)
Consolidated loss before tax
(4,414)
(4,841)
Income tax expense
(188)
(68)
Loss for the year
(4,602)
(4,909)
