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    C06   SG1F84861094

CSC HOLDINGS LIMITED

(C06)
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CSC : Financial Statements Announcement for the 12 Months Ended 31 March 2021

05/27/2021 | 06:00pm EDT

Financial Statements and Related Announcement::Full Yearly Results

https://links.sgx.com/1.0.0/corporate-announcements/KWMKWLN061...

FINANCIAL STATEMENTS AND RELATED ANNOUNCEMENT::FULL YEARLY RESULTS

Issuer & Securities

Issuer/ Manager

CSC HOLDINGS LIMITED

Securities

CSC HOLDINGS LTD - SG1F84861094 - C06

Stapled Security

No

Announcement Details

Announcement Title

Financial Statements and Related Announcement

Date &Time of Broadcast

28-May-2021 17:21:06

Status

New

Announcement Sub Title

Full Yearly Results

Announcement Reference

SG210528OTHROJV9

Submitted By (Co./ Ind. Name)

See Yen Tarn

Designation

Director & Chief Executive Of�cer

Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)

Financial Statements Announcement for the 12 Months Ended 31 March 2021

Additional Details

For Financial Period Ended

31/03/2021

Attachments

FY21_Results_Announcement.pdf

1 of 2

28-May-21, 5:23 PM

Financial Statements and Related Announcement::Full Yearly Results

https://links.sgx.com/1.0.0/corporate-announcements/KWMKWLN061...

Total size =776K MB

2 of 2

28-May-21, 5:23 PM

CSC HOLDINGS LIMITED

(Company Registration Number: 199707845E)

Financial Statements Announcement

for the 12 Months Ended 31 March 2021

Table of Contents

Page

REVIEW OF THE PERFORMANCE OF THE GROUP...............................................................................................

3

CONSOLIDATED STATEMENT OF PROFIT OR LOSS..........................................................................................

3

STATEMENT OF FINANCIAL POSITION ..................................................................................................................

7

CASH FLOW...................................................................................................................................................................

9

OUTLOOK ........................................................................................................................................................................

10

CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE 12 MONTHS ENDED 31 MARCH 2021 ..

11

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE 12 MONTHS ENDED 31

MARCH 2021 ....................................................................................................................................................................

12

STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2021 ......................................................................

13

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE 12 MONTHS ENDED 31 MARCH 2021 .........

15

STATEMENTS OF CHANGES IN EQUITY FOR THE 12 MONTHS ENDED 31 MARCH 2021 .........................

17

NOTES TO THE FINANCIAL STATEMENTS............................................................................................................

20

NOTES TO THE CONSOLIDATED STATEMENT OF PROFIT OR LOSS ...............................................................................

20

  1. Cost of sales…………………………………………………………………………………………………. 20
  2. Other income………………………………………………………………………………………………… 20
  3. Administrative expenses……………………………………………………………………………………. 20
  4. Other operating expenses………………………………………………………………………………….. 21
  5. Tax (credit)/expense………………………………………………………………………………………… 21
  6. Interested person transactions…………………………………………………………………………….. 22

NOTES TO THE STATEMENT OF FINANCIAL POSITION ...................................................................................................

23

  1. Property, plant and equipment…………………………………………………………………………….. 23
  2. Inventories…………………………………………………………………………………………………….23
  3. Aggregate amount of Group's borrowings and debt securities………………………………………… 24

NOTES TO THE STATEMENT OF CHANGES IN EQUITY....................................................................................................

25

1 Changes in the Company's Share Capital………………………………………………………………...25

AUDIT ................................................................................................................................................................................

25

ACCOUNTING POLICIES .............................................................................................................................................

26

EARNINGS/(LOSS) PER SHARE ..................................................................................................................................

26

NET ASSET VALUE ........................................................................................................................................................

27

VARIANCE FROM PROSPECT STATEMENT ..........................................................................................................

27

DIVIDEND.........................................................................................................................................................................

27

SEGMENTAL REVENUE AND RESULTS ..................................................................................................................

28

BREAKDOWN OF SALES..............................................................................................................................................

29

CONFIRMATION ............................................................................................................................................................

29

Page 2

Review of the Performance of the Group

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

2HFY21 - for the 6 months ended 31 March 2021 1HFY21 - for the 6 months ended 30 September 2020 2HFY20 - for the 6 months ended 31 March 2020 FY21 - for the 12 months ended 31 March 2021 FY20 - for the 12 months ended 31 March 2020

Review of Results for the 12 Months Ended 31 March 2021

2HFY21

1HFY21

Change

2HFY20

Change

FY21

FY20

Change

$'000

$'000

%

$'000

%

$'000

$'000

%

Revenue

125,522

52,811

>100.0

172,362

(27.2)

178,333

342,789

(48.0)

Cost of Sales

(109,942)

(65,669)

67.4

(148,661)

(26.0)

(175,611)

(298,634)

(41.2)

Gross Profit/(Loss) before

Government Assistances

15,580

(12,858)

N.M.

23,701

(34.3)

2,722

44,155

(93.8)

Gross Profit/(Loss) Margins

12.4%

-24.3%

13.8%

1.5%

12.9%

Government Assistances

1,740

6,406

(72.8)

-

N.M.

8,146

-

N.M.

Gross Profit/(Loss)

17,320

(6,452)

N.M.

23,701

(26.9)

10,868

44,155

(75.4)

Gross Profit/(Loss) Margins

13.8%

-12.2%

13.8%

6.1%

12.9%

Other Income

549

3,314

(83.4)

983

(44.2)

3,863

2,223

73.8

Operating Expenses

(15,952)

(12,170)

31.1

(18,367)

(13.1)

(28,122)

(34,220)

(17.8)

Government Assistances

(52)

2,566

N.M.

-

N.M.

2,514

-

N.M.

Profit/(Loss) from Operating

Activities

1,865

(12,742)

N.M.

6,317

(70.5)

(10,877)

12,158

N.M.

Net Finance Expenses

(290)

(876)

(66.9)

(1,694)

(82.9)

(1,166)

(3,542)

(67.1)

Share of Loss of Associates

(219)

(98)

>100.0

(74)

>100.0

(317)

(156)

>100.0

Profit/(Loss) before Tax

1,356

(13,716)

N.M.

4,549

(70.2)

(12,360)

8,460

N.M.

Tax Credit/(Expense)

364

(367)

N.M.

(487)

N.M.

(3)

(1,146)

(99.7)

Profit/(Loss) for the period/year

1,720

(14,083)

N.M.

4,062

(57.7)

(12,363)

7,314

N.M.

EBITDA

14,965

137

>100.0

20,162

(25.8)

15,102

40,766

(63.0)

Revenue

The Group recorded a 48.0% decline in full-year revenue of $178.3 million for FY21, compared to $342.8 million in FY20.

The Group's operations were affected in 1HFY21 by the stoppages of construction activities due to the imposition of the Circuit Breaker ("CB") in Singapore from 6 April 2020 to 1 June 2020, and Movement Control Order ("MCO") in Malaysia from 18 March 2020 to 3 May 2020.

On the back of resumption of activities at the Group's project sites in 2HFY21, revenue for 2HFY21 more than doubled to $125.5 million, from $52.8 million in 1HFY21.

Nevertheless, the pace of work resumption was slow and gradual, resulting in lower overall productivity compared to the pre-CB/MCO period due to a shortage of manpower and safe management measures imposed by the relevant government authorities. The MCO 2.0 in Malaysia from 13 January 2021 to 4 March 2021 also affected the activity levels in the last financial quarter of FY21.

Page 3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

CSC Holdings Ltd. published this content on 28 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2021 09:37:03 UTC.


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Sales 2021 178 M 132 M 132 M
Net income 2021 -11,0 M -8,13 M -8,13 M
Net Debt 2021 43,6 M 32,3 M 32,3 M
P/E ratio 2021 -4,02x
Yield 2021 -
Capitalization 46,4 M 34,3 M 34,4 M
EV / Sales 2020 0,34x
EV / Sales 2021 0,54x
Nbr of Employees -
Free-Float 41,7%
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