Sustainability and Governance Report
Notes to the FINANCIAL STATEMENTS
No
30. Capital management (cont'd)
The Group monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Group's aim is to keep the gearing ratio below 30%. The
Group includes within net debt, bank borrowings, trade and other payables, lease liabilities, dividend and bills payable, less cash and bank balances. Capital includes
equity attributable to the equity holders of the Company less the abovementioned legal reserve.
Trade and other payables (Note 21)
Bills payable (Note 22)
Bank borrowings (Note 23)
Lease liabilities (Note 19)
Less: Cash and bank balances (Note 14)
Net debt
Equity attributable to equity holders of the Company
Less: Legal reserve
Total capital
Capital and net debt
Gearing ratio
31.
Segment information
Group
2020
2019
$'000
$'000
2,365
4,265
3,370
3,209
2,373
4,022
1,634
(7,094)
(5,794)
2,648
5,702
42,999
39,103
(1,651)
(1,533)
41,348
37,570
43,996
43,272
6%
13%
The Group's geographical segments are based on the location of the Group's assets. Sales to external customers disclosed in geographical segments are based on the
geographical location of its customers. The Group mainly imports and distributes apparel, sporting goods, footwear and accessories in each of the following locations and
are independent from each other.
Management monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment.
Segment performance is evaluated based on operating profit or loss which in certain respects, as explained in the table below, is measured differently from operating profit
or loss in the consolidated financial statements.
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