New Toyo International Holdings Ltd. announced tax exempt (one-tier) final cash dividend of 1.00 cents per ordinary share for the year December 31, 2017 against 1.10 cents per ordinary share a year ago.

The company reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company' revenue was SGD 61,054,000 against SGD 67,867,000 for the same period of last year. Operating profit was SGD 1,985,000 against SGD 16,193,000 for the same period of last year. Profit before taxation was SGD 1,899,000 against SGD 16,950,000 for the same period of last year. Profit for the period attributable to equity holders of the company was SGD 1,585,000 against SGD 9,893,000 for the same period of last year. Cash flows from operating activities were SGD 13,389,000 against SGD 10,640,000 for the same period of last year. Acquisition of property, plant and equipment was SGD 7,206,000 against SGD 8,172,000 for the same period of last year. Basic and fully diluted EPS was 0.36 cents against 2.25 cents for the same period of last year. The group's turnover decreased by 10.0%, mainly due to lower revenue in Trading division as a result of lower sales prices. The decline was partially offset by revenue contribution from a subsidiary acquired in December 2016 in Printed Cartons and Labels division. Additions to investment property were SGD 7,000.

For the year, the company's revenue was SGD 265,835,000 against SGD 249,158,000 for the same period of last year. Operating profit was SGD 215,000 against SGD 26,060,000 for the same period of last year. Profit before taxation was SGD 137,000 against SGD 27,909,000 for the same period of last year. Profit for the period attributable to equity holders of the company was SGD 1,926,000 against SGD 15,899,000 for the same period of last year. Cash flows from operating activities were SGD 22,250,000 against SGD 19,818,000 for the same period of last year. Acquisition of property, plant and equipment was SGD 36,086,000 against SGD 17,517,000 for the same period of last year. Basic and fully diluted EPS was 0.44 cents against 3.62 cents for the same period of last year. Net asset value per ordinary share based on existing share capital as at December 31, 2017 was 38.40 cents against 40.69 cents for the same period of last year. The group's turnover increased by 6.7%. This growth was mainly attributable to the revenue consolidation of a newly acquired foreign subsidiary in Printed Cartons and Labels division and higher demands in Specialty Papers division. Trading division registered lower revenue due to lower sales prices. Additions to investment property were SGD 97,000.


For the quarter, the company's impairment loss on property, plant and equipment was SGD 2,684,000 against SGD 5,000 for the same period of last year.