Financials

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Unaudited Second Quarter Financial Statements For The Period Ended 30 September 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

  • The off-hire due to drydocking resulted in lower revenue/operating profit in 1H FY2019.
  • Agency and logistics segment enjoyed higher business volume.
  • Due to stronger US$, our S$ functional currency entities recorded a translation gain in 1H FY2019.

BALANCE SHEET

  • Reduced value of property, plant and equipment was due to depreciation of vessels, partially offset by capitalisation of drydocking expenses.
  • Reduced bank borrowings due to progressive repayments made during the financial period.

STATEMENT OF CASH FLOWS

Overall increase of US$2.7 million in cash and cash equivalents during the financial period due to operating cash inflows. This is in spite of:

  • Repayment of bank borrowings;
  • Payment of dividends to shareholders;
  • Purchase of treasury shares; and
  • Drydocking expenses.

Commentary

  • The Group performed well in every segment of its business.
  • With its surplus cash flows, there will be savings in net interest costs.
  • Barring unforeseen circumstances, the Group expects to remain profitable in FY2019.