Latest Financials

Financial Statements And Related Announcement - First Quarter Results

Financials Archive

Note: Files are in Adobe (PDF) format.
Please download the free Adobe Acrobat Reader to view these documents.

UNAUDITED SECOND QUARTER FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2018

Profit & Loss

Consolidated Statement of Total Comprehensive Income

Balance Sheets

Review Of Performance

Consolidated income statement

Hotel owning & management

• Revenue decline of 2.0% was mainly due to a weaker A$.
• Operating profit increased due to lower operating costs.

Property development

• Revenue and operating profit were higher due to increased number of units settled in Macquarie Park Village in Q1 FY2019 (Q1 FY2019: 111 units; Q1 FY2018: 38 units).

Property investment

• Revenue was lower due to the step-down of base rental as provided for in the tenancy agreement.
• Operating profit improved on lower operating costs.

Consolidated Balance Sheet

• Decrease in development properties for sale was due to the settlement of apartments in Macquarie Park Village during the period.
• Decrease in bank borrowings was due to repayments during the period.

Consolidated Statement of Cash Flows

The Group registered a net decrease in cash and cash equivalents of S$22.1 million in Q1 FY2019, details as follows:

• Cash inflow from operating activities was mainly due to settlement of apartments in Macquarie Park Village.
• Cash outflow from investing activities mainly due to ongoing refurbishment projects; and
• Cash outflow from financing activities mainly due to repayment of borrowings.

Commentary

• On Macquarie Park Village:
  1. 646 units out of a total 712 units were settled.
  2. 13 units out of a total 60 units under the Urban Activation Precinct were sold since launching.
• Hotel segment continues to be stable and is slightly ahead of last year in terms of operating profit.
• Barring any unforeseen circumstances, the Group expects to be profitable in FY2019.