2nd quarter result is out .
Looks quite a good set of financial numbers.
Dividend increase from 0.25 to 0.3 cents.
NAV of 21 cents.
Looks like price may rise back to 19 then 20 cents.
Zero debts.
Net cash per share is about 9.8 cents .
Revenue For the three months ended 30 June 2018 (“2Q18”), the Group registered revenue of S$50.8 million, up 7.4% from S$47.3 million in 2Q17. This was led by higher sales from the Group’s operations in Singapore and Malaysia.
On a quarter-on-quarter basis, Group revenue was also approximately 9.6% higher than S$46.4 million recorded in 1Q18. For the six months ended 30 June 2018 (“1H18”), Group revenue improved 5.6% to S$97.2 million from S$92.0 million in 1H17. The increase in revenue was attributed mainly to the Singapore and Malaysia segments which registered higher sales in 1H18. Sales generated from the Singapore operations in 1H18 gained 15.6% to S$22.8 million from S$19.7 million in 1H17, driven mainly by higher sales of products in the printing & imaging and automotive segments.
The Malaysia segment also recorded sales growth of 21.0% to S$18.5 million in 1H18 from S$15.3 million in 1H17 on the back of higher orders for products in the consumer and medical segments. On the other hand, sales from the China operations in 1H18 dipped marginally by 2.0% to S$55.9 million from S$57.0 million in 1H17 due mainly to weaker sales of networking & communications products. As a result, the revenue contributions from Singapore and Malaysia operations in 1H18 expanded to 23.4% and 19.1% compared to 21.4% and 16.7% respectively in 1H17. China segment accounted for a lower 57.5% of Group revenue in 1H18 as compared to 61.9% in 1H17.
Gross Profit Gross profit in 2Q18 climbed 17.1% to S$8.6 million from S$7.3 million in 2Q17. Correspondingly, gross profit margin widened to 16.9% from 15.5% in 2Q17. For 1H18, the Group’s gross profit margin also improved slightly to 16.5% from 16.1% in 1H17 notwithstanding selling price pressure in the industry. The increase in gross profit margin was attributed to the Group’s continual efforts to improve its production processes through lean operations and greater automation to achieve better cost and operational efficiencies.
Other Income Other income in 2Q18 and 1H18 of S$1.8 million and S$3.6 million respectively were stable when compared to 2Q17 and 1H17.
Profit Before Income Tax
Group profit before income tax increased significantly to S$5.2 million in 2Q18 from S$1.5 million in 2Q17 on the back of higher revenue and gross profit, as well as other operating income. As a result of the stronger performance in 2Q18, the Group’s profit before income tax in 1H18 more than doubled to S$6.2 million from S$2.8 million in 1H17. The Group’s profit before tax excluding foreign exchange impact and share of results of joint venture (“operating profit”) increased to S$3.1 million in 2Q18 from S$2.5 million in 2Q17. Operating profit of S$5.6 million in 1H18 was also higher than S$5.3 million in 1H17.
s within the Group. Net Profit Attributable to Owners of the Company The Group recorded a substantial increase in net profit attributable to owners of the Company to S$4.0 million in 2Q18 million from S$0.7 million in 2Q17. Net profit attributable to owners of the Company for 1H18 also climbed by 262.7% to S$4.6 million from S$1.3 million previously.
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