Email This Print ThisFinancials

Third Quarter Results Financial Statement And Related Announcement


Financials Archive

Get Adobe Reader Note: Files are in Adobe (PDF) format.
Please download the free Adobe Acrobat Reader to view these documents.

INCOME STATEMENT FOR THE 3RD QUARTER AND 9 MONTHS ENDED 30 SEPTEMBER 2018

Income Statement

STATEMENT OF COMPREHENSIVE INCOME FOR THE 3RD QUARTER AND 9 MONTHS ENDED 30 SEPTEMBER 2018

Statement Of Comprehensive Income

Balance Sheet

Balance Sheet

Review of Group Performance

Revenue

PCS - Higher revenue in 3Q2018 was due to higher equipment sales. Against 9M2017, there were lower prepaid and fulfillment revenue and lower channel sales in 9M2018.

ICT - Revenue decreased in 3Q2018 was due to lower software revenue and the sale of the enterprise network products distribution business in 3Q2018. The lower revenue in 9M2018 was mainly attributed to the sale of the enterprise network products distribution business.

Engineering - Revenue increased in 3Q2018 was due to operations from all countries except for the Malaysia operations. In 9M2018, the Indonesian operations reported lower revenue which was partially mitigated by higher revenue from the Philippines and Singapore operations.

PBT

PCS - PBT decreased in 3Q2018 and 9M2018 were due to the Singapore operations. The lower PBT from Singapore operations was due to the lower revenue and lower gross margin. In addition, the StarHub Logistics Contract was not renewed upon its expiry on 30 June 2017.

ICT - Higher losses in 3Q2018 and 9M2018 were due to lower gross profit. In 3Q2018, there were higher operating expenses from restructuring cost. The higher share of profit from an associate partially mitigated the weaker ICT operating performance.

Engineering - PBT increased in 9M2018 was mainly due to higher profit contribution from the Philippines and Singapore operations.

Prospects

Based on the current outlook and barring any unforeseen circumstances, the Group expects operating performance for 4Q2018 and full year 2018 to be lower than the corresponding periods of 2017. Overall, operating environment remains challenging. The Group will continue to explore strategic initiatives to further enhance the business operating performance.

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.