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Financials

Second Quarter Results Financial Statement And Related Announcement


Financials Archive

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INCOME STATEMENT FOR THE 2ND QUARTER AND HALF YEAR ENDED 30 JUNE 2018

Income Statement

STATEMENT OF COMPREHENSIVE INCOME FOR THE 2ND QUARTER AND HALF YEAR ENDED 30 JUNE 2018

Statement Of Comprehensive Income

Balance Sheet

Balance Sheet

Review of Group Performance

Revenue

PCS - Revenue decreased in 2Q2018 and 1H2018. Weaker revenue in 2Q2018 was impacted by the absence of new mobile handset launches. Against 1H2018, there were lower prepaid and fulfillment revenue and lower channel sales.

ICT - Revenue increased in 2Q2018 and 1H2018 mainly due to higher software revenue.

Engineering - Revenue increased in 2Q2018 from the Singapore operations, partially offset by lower revenue from the Indonesia operations. In 1H2018, all operations reported lower revenue except for the Philippines and Singapore operations.

PBT

PCS - PBT decreased in 2Q2018 and 1H2018 from the Singapore operations. The lower PBT from Singapore operations was due to the lower revenue from the loss of the StarHub Logistics Contract, which was not renewed upon its expiry on 30 June 2017.

ICT - Higher PBT in 2Q2018 was from higher gross profit. Lower losses in 1H2018 was due to lower operating expenses. There was also a higher share of profit from an associate.

Engineering - PBT increased in 1H2018 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 2H2018 to be better than 1H2018. However, operating environment continues to be challenging. Overall, the Group expects full year operating performance to be lower than that of last year. 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.