Financial Performance

Financial Years Ended 31 December 2012, 2013, 2014, 2015 and 2016

Financial Performance (including China Operation)
FY2012 FY2013(2) FY2014(3) FY2015 FY2016(5)
For the Year/Period (S$(Million))
Net revenue 26.29 31.58 36.68 41.53 40.69
Profit before tax 3.94 8.20 10.87 12.75 6.78
Profit from continuing operations 3.26 7.62 10.48 12.10 6.01
Profit attributable to owners of the Company from
continuing operations
3.74 7.86 10.51 12.10 6.13
           
Net Revenue
Recurring net revenue 22.34 25.62 29.48 34.64 34.71
Non-recurring net revenue 3.95 5.96 7.20 6.89 5.98
Total net revenue 26.29 31.58 36.68 41.53 40.69
           
Per Share
Earnings per share (cents) 1.86 3.89 5.06 4.65 2.34
Dividend per share (cents) 0.54 1.98(4) 5.38 2.79 2.79
           
Financial Ratios
Profit before tax margin (based on net revenue) 15.0% 25.9% 29.6% 30.7% 16.7%
Return on equity (per annum)(1) 17.0% 31.4% 38.7% 16.4% 8.0%
Financial Performance (excluding China Operation)
FY2012 FY2013(2) FY2014(3) FY2015 FY2016(5)
For the Year/Period (S$(Million))
Net revenue 26.29 31.58 36.68 41.53 40.46
Profit before tax 3.94 8.20 11.39 13.73 10.51
Profit from continuing operations 3.26 7.62 11.00 13.08 9.74
Profit attributable to owners of the Company from
continuing operations
3.74 7.86 11.03 13.08 9.74
           
Net Revenue
Recurring net revenue 22.34 25.62 29.48 34.64 34.54
Non-recurring net revenue 3.95 5.96 7.20 6.89 5.92
Total net revenue 26.29 31.58 36.68 41.53 40.46
           
Per Share
Earnings per share (cents) 1.86 3.89 5.31 5.03 3.72
Dividend per share (cents) 0.54 1.98(4) 5.38 2.79 2.79
           
Financial Ratios
Profit before tax margin (based on net revenue) 15.0% 25.9% 31.0% 33.1% 26.0%
Return on equity (per annum)(1) 17.0% 31.4% 40.6% 17.7% 12.7%
Financial Position and Operating Cashflows
FY2012 FY2013 FY2014 FY2015 FY2016
At Year/Period End (S$ (Million))
Non-current assets 5.36 4.36 4.07 8.48 14.70
Net current assets 20.95 20.70 63.16 68.32 64.40
Non-current liabilities (0.05) (0.43) (0.33) (0.24) (0.50)
Net assets 26.25 24.63 66.91 76.56 78.60
           
Share capital and reserves 23.41 23.97 66.91 76.56 78.45
Non-controlling interests 2.84 0.66 - - 0.15
Total equity 26.25 24.63 66.91 76.56 78.60
           
Net cash from/(used in) operating activities 2.33 7.13 10.18 14.18 5.63

Note:
(1) Return on equity is calculated based on the average of the month-end shareholders' equity for the respective periods.
(2) Excluding one-off gain of S$0.62 million on distribution to owners of the Company in October 2013.
(3) Excluding IPO expenses of S$1.95 million in December 2014.
(4) Excluding dividend by way of distribution in specie in October 2013.
(5) Excluding a one-off impairment loss of S$0.68 million on investments in financial assets recognised in 4Q2016.