Financials

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Full Year Financial Statements And Dividend Announcement For The Year Ended 31 March 2018

Financials Archive

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Profit & Loss

Statement of Comprehensive Income

Balance Sheet

Review of Performance

INCOME STATEMENT

REVENUE

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.

BALANCE SHEET

  • 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.

Commentary

  • 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.