Accounts for FY22 Recast Analysis, page-11

Hi, Thanks for the comment.

What I do is recast accounts into formats to more accurately reflect how a company is really doing.

In the case of this company DGL this is their revenue account as presented:



The Net Profit From Continuing Operations is the NPAT in FY22 and the NPAT in FY21 after the IPO costs are changed to extraordinary (see my analysis).

Sorry, but I don't know where you get you get your FY21 $11.3m figure from. However, you have alerted me to an error in my calculation of EPS for FY21. It as actually 77.5 cents. (Failing eyesight in copying weighted average number of shares. Lol!) I've updated my analysis accordingly. Thanks.

Now below NPAT in the screenshot above there is comprehensive income. This is redundant in a set of financial statements because it's all repeated in the Movements of Shareholders' Funds. However, the property revaluations sometimes are put through the revenue statement (not done in DGL Group accounts). This item is basically pixie dust because it's not real.

It's not supported by an accounting transaction with external parties.

A valuer has been paid by the company to render an opinion which may or may not reflect the reality at some later date when the property is sold. In my recast accounts it would appear as an unrealised item if DGL had put it through the revenue statement.

It does however, create an equity picture (possible overstatement) which may or may not be valid. Property revaluations in a sense are pixie dust your can sprinkle over a balance sheet to make it look better.

Hope you can visit our community at the analysis link I posted above. All the best, cheers.