4.16
-0.72%
Close of 6 Nov 2026, in SGD
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At a glance
Figures in SGD, from our data supplier.
Revenue
SGD 1.55bn
FY2016FY2025
Net income
SGD 94.3m
FY2016FY2025
Free cash flow
SGD 116.4m
FY2016FY2025
Shareholders' equity
SGD 514.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 1.55bn | SGD 1.48bn | SGD 1.63bn | SGD 1.70bn | SGD 1.17bn | SGD 612.4m | SGD 913.3m | SGD 567.0m | SGD 310.1m | SGD 346.8m |
| Gross profit | SGD 159.7m | SGD 153.8m | SGD 157.5m | SGD 153.7m | SGD 82.1m | SGD 85.2m | SGD 92.6m | SGD 55.9m | SGD 19.4m | SGD 28.7m |
| Operating income | SGD 110.6m | SGD 101.3m | SGD 96.6m | SGD 108.2m | SGD 52.0m | SGD 27.0m | SGD 38.4m | SGD 15.7m | SGD 3.0m | SGD 10.1m |
| Net income | SGD 94.3m | SGD 93.5m | SGD 75.7m | SGD 90.2m | SGD 47.0m | SGD 20.4m | SGD 31.6m | SGD 11.8m | SGD 2.1m | SGD 8.3m |
| Diluted earnings per share | 0.39 | 0.38 | 0.31 | 0.37 | 0.19 | 0.00 | 0.14 | 0.05 | 0.01 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SGD 936.9m | SGD 904.0m | SGD 952.4m | SGD 973.1m | SGD 884.7m | SGD 619.9m | SGD 694.6m | SGD 698.7m | SGD 322.8m | SGD 268.8m |
| Cash and short-term investments | — | — | — | — | — | SGD 77.9m | SGD 65.8m | SGD 41.1m | SGD 24.0m | SGD 11.9m |
| Total liabilities | SGD 407.5m | SGD 428.7m | SGD 525.0m | SGD 574.3m | SGD 583.8m | SGD 355.4m | SGD 431.7m | SGD 461.7m | SGD 155.1m | SGD 97.2m |
| Debt | — | — | SGD 2.1m | SGD 26.7m | SGD 52.1m | SGD 99.2m | SGD 328.2m | SGD 359.1m | SGD 61.8m | SGD 49.2m |
| Shareholders' equity | SGD 514.7m | SGD 475.3m | SGD 427.3m | SGD 398.8m | SGD 300.9m | SGD 264.5m | SGD 262.9m | SGD 237.0m | SGD 167.8m | SGD 171.6m |
| Shares outstanding | 243m | 243m | 243m | 243m | 243m | 22,613m | 233m | 233m | 186m | 186m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SGD 123.2m | SGD 193.0m | SGD 159.5m | SGD 49.0m | −SGD 126.2m | SGD 122.1m | SGD 79.3m | −SGD 10.9m | SGD 30.8m | SGD 13.5m |
| Capital spending | −SGD 6.8m | −SGD 4.3m | −SGD 3.3m | −SGD 2.9m | −SGD 1.9m | −SGD 2.5m | −SGD 2.3m | −SGD 26.9m | −SGD 19.3m | −SGD 11.7m |
| Free cash flow | SGD 116.4m | SGD 188.7m | SGD 156.3m | SGD 46.1m | −SGD 128.1m | SGD 119.6m | SGD 77.0m | −SGD 37.8m | SGD 11.4m | SGD 1.8m |
| Dividends paid | −SGD 54.9m | −SGD 30.2m | −SGD 32.9m | −SGD 27.4m | −SGD 14.6m | −SGD 11.7m | −SGD 2.3m | −SGD 2.3m | −SGD 4.5m | −SGD 3.7m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 837.4m | SGD 715.6m | SGD 723.1m | SGD 758.3m | SGD 909.9m | SGD 455.0m | SGD 717.1m | SGD 358.5m |
| Gross profit | SGD 92.3m | SGD 67.4m | SGD 79.1m | SGD 74.7m | SGD 86.3m | SGD 43.2m | SGD 52.7m | SGD 26.4m |
| Operating income | SGD 63.1m | SGD 48.0m | SGD 48.8m | SGD 53.2m | SGD 66.0m | SGD 27.0m | SGD 36.9m | SGD 14.9m |
| Net income | SGD 52.2m | SGD 42.1m | SGD 55.0m | SGD 38.5m | SGD 49.5m | SGD 24.8m | SGD 26.2m | SGD 13.1m |
| Diluted earnings per share | 0.19 | 0.15 | 0.20 | 0.14 | 0.18 | 0.09 | 0.10 | 0.05 |
| Cash from operations | SGD 166.0m | −SGD 43.0m | SGD 127.0m | SGD 79.0m | −SGD 11.0m | — | SGD 170.0m | — |
| Capital spending | −SGD 5.0m | −SGD 1.0m | −SGD 1.0m | −SGD 2.0m | — | — | −SGD 2.0m | — |
| Free cash flow | SGD 161.0m | −SGD 44.0m | SGD 126.0m | SGD 77.0m | — | — | SGD 168.0m | — |
| Total assets | SGD 936.9m | SGD 907.7m | SGD 904.0m | SGD 856.1m | SGD 952.4m | SGD 952.4m | SGD 824.0m | SGD 824.0m |
| Cash and short-term investments | — | — | — | — | — | SGD 185.1m | — | SGD 115.8m |
| Debt | — | — | — | SGD 333,000 | SGD 2.1m | SGD 370.3m | SGD 22.8m | SGD 250.7m |
| Shareholders' equity | SGD 514.7m | SGD 478.6m | SGD 475.3m | SGD 436.5m | SGD 427.3m | SGD 427.3m | SGD 389.6m | SGD 389.6m |
Financial ratios
Data as of 4 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 10.3% | 10.4% | 9.7% | 9.0% | 7.0% | 13.9% | — | — | — | — |
| Operating margin | 7.7% | 8.3% | 6.4% | 6.3% | 4.2% | 6.2% | — | — | — | — |
| Net margin | 6.1% | 6.3% | 4.7% | 5.3% | 4.0% | 3.3% | — | — | — | — |
| Return on equity | 18.3% | 19.7% | 17.7% | 22.6% | 15.6% | 7.7% | — | — | — | — |
| Return on assets | 10.1% | 10.3% | 8.0% | 9.3% | 5.3% | 3.3% | — | — | — | — |
| Free cash flow yield | — | — | — | — | -12.3% | 0.1% | 8.4% | 1.6% | 6.5% | 3.3% |
| Revenue growth | 4.8% | -9.0% | -4.3% | 45.4% | 90.8% | -32.9% | — | — | — | — |
| Earnings growth | 0.8% | 23.5% | -16.0% | 91.8% | 131.1% | -35.5% | — | — | — | — |
| Current ratio | 2.04x | 1.91x | 1.65x | 1.57x | 1.44x | 1.83x | — | — | — | — |
| Debt to equity | — | 0.00x | 0.00x | 0.07x | 0.17x | 0.38x | 1.25x | — | — | — |
| Equity ratio | 54.9% | 52.6% | 44.9% | 41.0% | 34.0% | 42.7% | — | — | — | — |
| Interest coverage | 16.24x | 10.86x | 8.10x | 14.91x | 10.39x | 5.59x | — | — | — | — |
| Buybacks as a share of market value | — | — | — | — | 98.9% | -9599.6% | 0.1% | -25.4% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.0% | 20.5% | 15.0% |
| Operating income | 0.7% | 32.6% | 19.6% |
| Net income | 1.5% | 35.9% | 19.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.3% | 9.8% | 9.7% | 9.6% |
| Operating margin | 7.0% | 6.6% | 6.1% | 5.5% |
| Net margin | 6.2% | 5.6% | 5.2% | 4.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.8 | 6.5 | 5.8 | 4.9 | 8.0 | — | 11.2 | 25.0 | 152.0 | 11.6 |
| Price to sales | 0.7 | 0.4 | 0.3 | 0.3 | 0.3 | 54.6 | 0.4 | 0.5 | 1.0 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 7 years. Last went ex-dividend on 30 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.07 | 0.12 | 0.115 | 0.11 | 0.10 | 0.08 | 0.03 | 0.01 |
- 5-to-1 reverse split · 18 Aug 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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