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P a g e
Ernst & Young
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St. Clair, Port of Spain
Trinidad and Tobago
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TRINIDAD CEMENT LIMITED
SECTION 6: FIVE YEAR SUMMARY FINANCIALS
6.1
INDEPENDENT AUDITOR’S REPORT
ON THE FIVE YEAR SUMMARY CONSOLIDATED
FINANCIAL STATEMENTS
To the shareholders of
Trinidad Cement Limited
Introduction
The accompanying summary consolidated financial statements (as contained on pages 41 to 48 of the Information
Memorandum) of Trinidad Cement
Limited and its subsidiaries (the “Group”), which comprise the summary
consolidated statements of financial position as at 31 December 2010, 2011, 2012, 2013 and 2014 and the summary
consolidated statements of income, comprehensive income, changes in equity and cash flows for the years then
ended and related notes, are derived from the audited consolidated financial statements of the Group for the
respective years.
With the exception of the financial year ended 31 December 2011, we expressed unmodified audit opinions on those
consolidated financial statements in our reports dated 17 May 2011 (year ended 31 December 2010), 25 March 2013
(year ended 31 December 2012), 2 May 2014 (year ended 31 December 2013) and 19 February 2015 (year ended 31
December 2014). In our report dated 12 April 2012 in respect of the year ended 31 December, 2011 we expressed a
qualified audit opinion owing to the non-recognition of additional impairment losses of $131.4M. The
accompanying summary consolidated financial statements have been restated to account for the recognition of this
impairment loss in the year ended 31 December 2011.
Those consolidated financial statements, and the summary consolidated financial statements, do not reflect the
effects of events that occurred subsequent to the dates of our reports on those consolidated financial statements.
The summary consolidated financial statements do not contain all the disclosures required by International Financial
Reporting Standards. Reading the summary consolidated financial statements, therefore, is not a substitute for
reading the audited consolidated financial statements of the Group.
Management’s Responsibility for the Summary
Consolidated Financial Statements
Management is responsible for the preparation of a summary of the audited consolidated financial statements in
accordance with the basis of criteria established by management as described in Note 1.
