AEM Holdings Ltd. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2015; Provides Earnings Guidance for the First Quarter of Fiscal year of 2016
For the year, revenue was SGD 47,611,000 against SGD 30,860,000 a year ago. Profit before taxation was SGD 3,974,000 against loss before taxation of SGD 29,442,000 a year ago. Profit after tax from continuing operations was SGD 5,782,000 against loss after tax from continuing operations of SGD 27,308,000 a year ago. Profit for the period was SGD 5,782,000 against loss of SGD 39,944,000 a year ago. Total comprehensive profit attributable to owners of the company was SGD 6,373,000 against loss of SGD 34,859,000 a year ago. Cash flows used in operating activities were SGD 1,540,000 against SGD 8,205,000 a year ago. Purchase of property, plant and equipment amounted to SGD 603,000 against SGD 5,531,000 a year ago. Acquisition of intangible assets amounted to SGD 79,000 against SGD 2,023,000 a year ago. Earnings per share based on a fully diluted basis were 12.99 cents against loss per share were 90.19 cents a year ago.
For the fourth quarter ended December 31, 2015, the impairment on property, plant and equipment of SGD 213,000 compared with SGD 2,798,000 a year ago. Fixed asset written off was SGD 8,000.
For the first quarter and fiscal year of 2016, the company expects it will continue to operate profitably.