Koufu Group Limited Announces Unaudited Earnings Results for the Second Quarter and Half Year Ended June 30, 2018; Provides Earnings Guidance for the Fiscal Year 2018; Reports Write Off Charges for the Second Quarter Ended June 30, 2018
For the half year, the group reported revenue was SGD 109,227,000 compared to SGD 106,936,000 a year ago. Results from operating activities was SGD 14,543,000 compared to SGD 14,311,000 a year ago. Net finance costs was SGD 31000 compared to net finance income was SGD 482,000 a year ago. Profit before tax was SGD 14,657,000 compared to SGD 14,988,000 a year ago. Profit for the period was SGD 12,291,000 compared to SGD 12,532,000 a year ago. Profit for the period attributable to owners of the company was SGD 12,355,000 compared to SGD 12,532,000 a year ago. Net cash generated from operating activities was SGD 14,485,000 compared to SGD 18,343,000 a year ago. Purchase of property, plant and equipment was SGD 11,531,000 compared to SGD 4,184,000 a year ago. Purchase of investment property was SGD 1,300,000. Fully diluted earnings per share was 2.56 cents compared to 2.59 cents a year ago.
For the second quarter, the group reported write off of property, plant and equipment was was SGD 21,000 compared to SGD 19,000 a year ago.
For the fiscal year 2018, the group expects to continue to grow its business and remain profitable.