Sing Ghee Huat Corporation Ltd Revenue decreased by $1.0 million or 1%, from $93.6 million in FY2007 to 92.6 million in FY2008. Gross profit decreased by $6.3 million or 20%, from $31.8 million in FY2007 to $25.5 million in FY2008. The decrease was due mainly to an increase in cost of sales of $5.1 million and a decrease in revenue of $1.0 million. Gross profit margin decreased from 34% in FY2007 to 28% in FY2008. Profit before income tax margin decreased from 24% in FY2007 to 18% in FY2008.
Second Chance Properties Ltd continued making record profits for the sixth consecutive year. Revenue increased by 10.4% from $48.2 million in FY 2007 to $53.2 million in FY 2008. Net profit after taxes rose from $18.4 million to $24.1 million in FY 2008. EBIDTA for the year ended 30 June 2008was $13.8 million, 16.9% more than the $11.8 million in the corresponding period of the prior year.
SNF Corporation Ltd (“the Group”) recorded a turnover of S$7.03 million, a decrease of S$1.96 million or21.8% as compared with S$8.99 million for the first half of 2007. Gross profit margin for the period remained unchanged from the same period last year at approximately 21.0% of revenue. Loss before taxation for the Group was $1.26 million as compared to a loss of $0.29 million for the same period last year. The Group experienced a difficult half year up to 30 June 2008, due to increased competition, the impact of the credit crisis, and rising inflationary pressures across many of its markets in Asia.
Equation Corp Limited (“The Group”) revenues increased 74.6% to $48.8 million from $27.9 million. The increase was contributed by both the consumer electronic products business and the recycling and trading of ewaste business. Gross profit increased 53.7% from $7.6 million to $11.6 million due to higher revenue generated Gross profit margin dropped 3.3% to 23.8% from 27.1% largely due to increased price volatility of commodity prices and stiff competition in the recycling and trading of metals and e-waste. Profit before taxation and minority interests of $0.8 million (FY 2007: $0.8 million). After deducting minority interests and tax, the net profit attributable to shareholders for FY 2008 is $0.5 million (FY 2007: $0.7 million).
Gates Electronics Limited recorded revenue in SGD in FY2008 was approximately S$11.04m, slightly lower than S$11.45m in FY2007due to the depreciation of USD against SGD during the current financial year. Gross profit from our trading business decreased from S$0.58m in FY2007 to S$0.48m in FY2008, while gross profit margin decreased from 5.1% in FY2007 to 4.4% in FY2008. Net profit attributable to equity holders of the Company has decreased by 56.2% from S$0.76m in FY2007 to S$0.33m in FY2008.
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