Full Year Financial Statements And Dividend Announcement For The Year Ended 31 March 2018
Profit & Loss
Statement of Comprehensive Income
Review of Performance
PROFIT ATTRIBUTABLE TO OWNERS OF THE COMPANY
- Lower off-hire (dry-docking) resulted in higher revenue/operating profit.
- Agency and logistics segment continued to enjoy higher business volume.
- Due to weaker US$ receivable, our S$ functional currency entities recorded a translation loss.
- Reduced value of property, plant and equipment was due to depreciation of vessels, partially offset by capitalisation of dry-docking expenses.
- Increase of long-term deposits due to placement of long-term deposits.
- Increase of financial assets held for trading due to purchase of investments.
- Reduced bank borrowings due to progressive repayments made during the financial year.
STATEMENT OF CASH FLOWS
Overall increase of US$2.4 million in cash and cash equivalents in FY2018 due to operating cash inflows. This is in spite of:
- Repayment of bank borrowings;
- Dividends paid to shareholders;
- Purchase of financial assets held for trading;
- Placement of long-term deposits; and
- Drydocking expenses.
- The Group performed well in FY2018 with improved trading results in every segment.
- With its growing cash position, the Group continues to evaluate investment opportunities.
- Barring unforeseen circumstances, the Group expects a profitable performance in FY2019.