Baker Technology Limited
2012
TheGroup revenue peaked in 2012,
growing 21% from $81.1million in
2011 to $98.2 million. The Group
alsodisposedof its 49% stake inYork
Transport Equipment (Asia) Pte Ltd
for $22.2million, recognising a gain
of $10.9million from the disposal.
Following the High Court ruling
in the Group’s favour in relation
to the legal suit with Sembcorp
Marine Ltd, the Group recognised
the deferred gain of $58.2 million
from the disposal of PPLHoldings
Pte Ltd. As a result of these gains,
pre-taxprofit surged to$84.8million.
2014
In2014, theGroupwitnessed itsrevenue
increasing4%year-on-year.TheGroup’s
pre-taxprofitof$16.3millionforFY2014
slightlydeclined compared to thepre-
taxprofit (excluding investment gain)
of $17.8million recorded forFY2013.
Withhigheradministrativeexpensesdue
tonewoperatingsubsidiaries, theGroup
incurred an additional administrative
expense of $3.2 million in FY2014.
However, this increase was offset by
higherexchangegainand lower taxation
charge for the year.
2013
With thegainof $8.8million from the
disposal of its associate, Discovery
Offshore S.A., theGroup saw greater
profitability in2013.With theexclusion
of the investmentgain, theGroup’spre-
taxprofit improved from$15.1million
in 2012 to $17.8million for 2013.
Despite paying out a record dividend
of $87.2 million to shareholders for
financial year 2012, theGroup’s cash
position remained strong at $205.9
million at December 2013 or 118.0
cents per share. Thiswas attributable
to proceeds from the conversion of
warrants and positive cash inflows
from operations.
2015
With oil prices declining since the
second half of 2014, demand has
takena substantial hit causing revenue
to decline by 37% to $54.1 million.
Correspondingly, pre-tax profit also
reduced by 32% to $11.1 million for
FY2015.
2016
Uncertainties and weak sentiment
continue to weigh on the oil and gas
industry in 2016. Revenue decreased
60% to$21.5million.With thepersistent
weakness in the industry, the Group
recorded an impairment loss of $7.6
millionon thegoodwill ina subsidiary.
As a result, the Group reported a net
loss of $8.3million for the year.
The Group’s cash position remained
healthy at $107.0 million or 52.7
cents per share (based on the revised
numberof sharesasa resultof theshare
consolidation).
5-Year Performance Review
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