Details on how the business of the Sector is managed and its related performance are set out below. This information is given on a voluntary basis and from the perspective of the Sector management, as its disclosure is not required by law or regulation.
Land Systems
“Higher profits”
|
FINANCIAL HIGHLIGHTS for the second quarter ended 30 June 2016 |
|||
|
|
2016 |
2015 |
Growth |
|
Revenue ($m) |
284 |
319 |
(11) |
|
Earnings before interest and tax (EBIT) ($m) |
14.3 |
14.6 |
(2) |
|
Other income, net ($m) |
13.0 |
1.1 |
>500 |
|
Finance costs, net ($m) |
(2.9) |
(3.2) |
8 |
|
Profit before tax (PBT) ($m) |
27.8 |
16.3 |
71 |
|
Profit attributable to shareholders ($m) |
20.0 |
11.3 |
76 |
Economic Value Added for the first half of 2016 was $4.7 million
“For 1H2016, we recorded lower sales due to lower project deliveries in key defence programmes and divestment of Guizhou Jonyang Kinetics (GJK). However, PBT was higher mainly due to lower operating expenses and a one-time gain from the divestment of GJK.
We will continue to pursue key programmes and develop new markets.” ~Ravinder Singh, President
Land Systems 2Q2016 Unaudited Results
N.B.: All currencies are in Singapore dollars.