Baker Technology Limited
O
uarterly revenuehasbeenona
declining trendsince thesecond
halfof2015as the impact from
aweakerdemandarisingfromprolonged
lowoil priceswas felt. As a result, the
Group reported net losses (excluding
foreign exchange gains / losses) from
3Q2015 to4Q2016with the exception
of 2Q2016 where the Group recorded
a one-off compensation income from
a supplier for defectivematerials. Net
loss (excluding foreign exchange gain
/ losses) surged to $7.6 million for
4Q2016mainly due to the recognition
of impairment loss on goodwill in a
subsidiary.
Grossprofitmarginsvarieddependingon
theproductmixandstagesofconstruction
for theprojectsbeingundertakenduring
the various quarters.
Although theUSdollarhasappreciated
approximately 2.3% and 7.0% against
the Singapore dollars for FY2016 and
FY2015, respectively, the quarter-to-
quarterforeignexchangemovementshad
beenveryvolatile.Asa result,quarterly
net profit / lossfluctuates significantly.
GroupQuarterlyResults
Q1
$'000
Q2
$'000
Q3
$'000
Q4
$'000
Full
Year
$'000
Revenue
2016
5,966 8,125 5,026 2,403 21,520
2015
27,935 12,682 5,556 7,891 54,064
Gross profit
2016
2,361 1,555
133 1,622 5,671
2015
7,856 3,795 2,054 1,514 15,219
Net (loss) / profit
2016
(2,757)
371 (1,483) (4,458) (8,327)
2015
6,401
45 2,663
55 9,164
Net (loss) / profit *
2016
(163)
439 (2,165) (7,621) (9,510)
2015
3,818 1,219 (905)
(290)
3,842
Gross profitmargin
2016
40% 19% 3% 67% 26%
2015
28% 30% 37% 19% 28%
* Excluding foreign exchange gain / losses
Financial Review
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31
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