Tuan Sing Holdings Limited Reports Audited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
For the full year, the company reported revenue of SGD 404,018,000 compared to SGD 677,122,000 a year ago. Profit before tax and fair value adjustments were SGD 37,742,000 compared to SGD 88,703,000 a year ago. Profit before tax was SGD 40,078,000 compared to SGD 80,654,000 a year ago. Profit for the period was SGD 33,806,000 compared to SGD 69,119,000 a year ago. Profit attributable to owners of the company was SGD 33,585,000 compared to SGD 68,833,000 a year ago. Basic and diluted earnings per share including fair value adjustments were 2.8 cents compared to 5.8 cents a year ago. Return on shareholders' funds was 3.7% compared to 8.2% a year ago. Net cash from operating activities were SGD 190,103,000 compared to SGD 152,303,000 a year ago. The increase was attributable mainly to more cash received from the development properties following their completion. Purchase of property, plant and equipment was SGD 4,098,000 compared to SGD 3,319,000 a year ago. Net asset value per share was 77.7 cents at 31 December 2016.
Barring unforeseen circumstances, the group is optimistic of achieving a profit for the year 2017.