INCOME STATEMENT FOR THE 1ST QUARTER ENDED 31 MARCH 2017
STATEMENT OF COMPREHENSIVE INCOME FOR THE 1ST QUARTER ENDED 31 MARCH 2017
Review of Group Performance
PCS – Revenue decreased by $15.6M in 1Q2017 mainly due to lack of new phones sales. In 1Q2016 there were sales of Samsung S7 and S7 Edge recorded.
ICT – Revenue decreased by $7.9M in 1Q2017 mainly due to lower spending by both commercial and public sector customers.
Engineering – Revenue increased by $3.0M in 1Q2017 from all countries.
PCS – PBT decreased by $0.7M in 1Q2017 from both Singapore and Malaysian operations. The lower PBT in Singapore was due to the lower revenue. The lower PBT in Malaysia was due to lower fixed fees received from a customer in Malaysia as compared to the previous period.
ICT – Losses increased by $0.5M in 1Q2017 compared to 1Q2016 mainly due to lower revenue with lower gross profits partially mitigated by lower operating expenses.
Engineering – PBT decreased by $0.1M in 1Q2017 compared to 1Q2016 mainly due to weaker performance from Singapore operations.
Based on the current outlook and barring any unforeseen circumstances, the Group expects operating performance for 2Q2017 to be stronger than 1Q2017. However, operating performance for the full year is expected to be lower than the preceding financial year.
This release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, and governmental and public policy changes. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events.