The Group’s turnover for 1Q of FY2009 of S$96.8 million was S$14.8 million or 13.3% lower than the
S$111.6 million recorded in 1Q of FY2008 primarily due to general business slow down in prevailing
uncertain economic conditions.
Turnover from the distribution business decreased by approximately S$11.2 million or 14.8% from S$75.7
million in 1Q of FY2008 to S$64.5 million in 1Q of FY2009. Turnover from the manufacturing business
decreased by approximately S$3.6 million or 10.0% from S$35.9 million in 1Q of FY2008 to S$32.3 million in
1Q of FY2009.
Gross profit decreased by approximately S$5.6 million or 20.2% from S$27.8 million in 1Q of FY2008 to
S$22.2 million in 1Q of FY2009. The decrease was primarily attributable to lower sales volumes and lower
gross margin in both distribution and manufacturing business segments.
The decrease in distribution and administrative expenses in 1Q of FY2009 as compared to the same period
of FY2008 was primarily due to lower fuel and delivery charges, coupled with reduction in operating overheads. The decrease in finance expenses was attributable to lower interest expenses incurred from
bank borrowings as a result of lower borrowing rates.
The share of profit of associated companies decreased by approximately S$0.8 million from a profit of S$0.5
million in 1Q of FY2008 to a loss of S$0.3 million in 1Q of FY2009 attributable to operating losses incurred
by our associated companies.
Profit after taxation and minority interests decreased by about S$1.3 million or 25.3% from S$5.2 million in
1Q of FY 2008 to S$3.9 million in 1Q of FY2009.
Total current assets increased by approximately S$2.1 million due to an increase in cash of approximately
S$11.2 million and an increase in receivables of approximately S$5.1 million, offset by a decrease in
inventories of approximately S$12.2 million and a decrease in other current assets of approximately S$2.0
million. The increase in trade receivables was primarily due to sales of about S$6.1 million invoiced to our
associated company, O.Z. S.p.A in the months of February and March from our PRC operating entities. Most
of these trade receivables remained outstanding as at end of March but they were still within the credit
terms. The reduction in inventories was in line with efforts to reduce inventory levels.
The decrease in investment in associated companies of about S$0.3 million was primarily due to share of
loss in Q1 of FY 2009.
The increase in property, plant and equipment of about S$6.3 million was primarily due to the MAT (Most
Advanced Technology) expansion project in our Suzhou factory.
The decrease in current liabilities of about S$12.2 million was primarily due to decrease in current bank
borrowings of approximately S$11.8 million and in trade payables of approximately S$0.3 million.
The increase in borrowings in non-current liabilities was mainly due to funding on our MAT expansion project
in our Suzhou factory.
Our cash flow for the period showed a net increase in cash of about S$11.2 million in 1Q of FY2009 as
compared to a net decrease of approximately S$1.3 million in 1Q of FY2008 primarily due to higher cash
generated from operating activities.
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发表于 11-11-2007 07:24 PM
好啊...我也是 capitaland 的小小股東呢 
发表于 21-5-2013 01:28 AM
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