1.34
0.00%
Close of 6 Nov 2026, in SGD
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At a glance
Figures in SGD, from our data supplier.
Revenue
SGD 2.32bn
FY2016FY2025
Net income
SGD 141.3m
FY2016FY2025
Free cash flow
−SGD 15.2m
FY2016FY2025
Shareholders' equity
SGD 2.77bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 2.32bn | SGD 2.16bn | SGD 2.10bn | SGD 2.00bn | SGD 1.88bn | SGD 1.83bn | SGD 1.90bn | SGD 1.83bn | SGD 1.90bn | SGD 1.98bn |
| Gross profit | SGD 727.5m | SGD 688.8m | SGD 623.0m | SGD 573.8m | SGD 582.9m | SGD 595.9m | SGD 623.7m | SGD 583.0m | SGD 661.3m | SGD 728.4m |
| Operating income | SGD 226.3m | SGD 202.2m | SGD 151.1m | SGD 128.8m | SGD 151.0m | SGD 141.4m | SGD 169.5m | SGD 121.9m | SGD 60.4m | SGD 127.9m |
| Net income | SGD 141.3m | SGD 150.9m | SGD 133.2m | SGD 124.9m | SGD 140.4m | SGD 149.2m | SGD 152.6m | SGD 123.6m | SGD 1.28bn | SGD 108.1m |
| Diluted earnings per share | 0.10 | 0.10 | 0.09 | 0.09 | 0.10 | 0.10 | 0.11 | 0.08 | 0.88 | 0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SGD 5.03bn | SGD 5.20bn | SGD 5.12bn | SGD 4.98bn | SGD 4.92bn | SGD 4.77bn | SGD 4.72bn | SGD 4.51bn | SGD 4.90bn | SGD 3.77bn |
| Cash and short-term investments | — | — | — | — | — | SGD 285.5m | SGD 420.3m | SGD 530.1m | SGD 1.13bn | SGD 1.04bn |
| Total liabilities | SGD 1.71bn | SGD 1.82bn | SGD 1.72bn | SGD 1.48bn | SGD 1.47bn | SGD 1.81bn | SGD 1.79bn | SGD 1.69bn | SGD 2.09bn | SGD 930.7m |
| Debt | SGD 736.9m | SGD 932.0m | SGD 794.4m | SGD 837.7m | SGD 499.3m | SGD 821.1m | SGD 829.6m | SGD 871.4m | SGD 1.30bn | SGD 125.6m |
| Shareholders' equity | SGD 2.77bn | SGD 2.86bn | SGD 2.95bn | SGD 3.07bn | SGD 3.02bn | SGD 2.97bn | SGD 2.93bn | SGD 2.82bn | SGD 2.81bn | SGD 2.84bn |
| Shares outstanding | 1,452m | 1,452m | 1,452m | 1,452m | 1,452m | 1,450m | 1,450m | 1,464m | 1,449m | 1,472m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SGD 231.2m | SGD 216.4m | SGD 261.7m | SGD 19.2m | SGD 247.4m | SGD 42.7m | SGD 210.6m | SGD 158.9m | SGD 71.5m | SGD 183.2m |
| Capital spending | −SGD 246.5m | −SGD 114.0m | −SGD 147.9m | −SGD 138.5m | −SGD 90.3m | −SGD 108.3m | −SGD 159.0m | −SGD 93.2m | −SGD 64.7m | −SGD 76.4m |
| Free cash flow | −SGD 15.2m | SGD 102.4m | SGD 113.8m | −SGD 119.4m | SGD 157.1m | −SGD 65.7m | SGD 51.6m | SGD 65.8m | SGD 6.8m | SGD 106.8m |
| Dividends paid | −SGD 80.1m | −SGD 80.1m | −SGD 72.8m | −SGD 72.7m | −SGD 72.6m | −SGD 79.8m | −SGD 65.2m | −SGD 65.2m | −SGD 65.1m | −SGD 65.1m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Sept 2022 | Sept 2020 | Mar 2020 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 1.11bn | SGD 1.21bn | SGD 1.09bn | SGD 1.07bn | SGD 1.05bn | SGD 993.2m | SGD 1.83bn | SGD 471.4m |
| Gross profit | SGD 350.8m | SGD 376.6m | SGD 336.7m | SGD 352.0m | SGD 326.4m | SGD 288.1m | SGD 595.9m | SGD 151.6m |
| Operating income | SGD 103.5m | SGD 123.8m | SGD 93.1m | SGD 113.9m | SGD 88.3m | SGD 63.2m | SGD 141.4m | SGD 33.7m |
| Net income | SGD 58.2m | SGD 83.1m | SGD 66.4m | SGD 84.5m | SGD 62.5m | SGD 59.6m | SGD 149.2m | SGD 32.0m |
| Diluted earnings per share | 0.04 | 0.06 | 0.05 | 0.06 | 0.04 | 0.04 | 0.10 | 0.02 |
| Cash from operations | SGD 102.0m | SGD 128.0m | SGD 76.0m | SGD 140.0m | — | — | SGD 42.0m | −SGD 16.0m |
| Capital spending | −SGD 147.0m | −SGD 98.0m | −SGD 73.0m | −SGD 39.0m | — | — | −SGD 124.0m | −SGD 28.0m |
| Free cash flow | −SGD 45.0m | SGD 30.0m | SGD 3.0m | SGD 101.0m | — | — | −SGD 82.0m | −SGD 44.0m |
| Total assets | SGD 5.03bn | SGD 5.23bn | SGD 5.20bn | SGD 5.11bn | SGD 5.12bn | SGD 4.98bn | SGD 4.77bn | SGD 4.81bn |
| Cash and short-term investments | — | — | — | — | — | — | SGD 285.5m | SGD 249.2m |
| Debt | SGD 736.9m | SGD 865.6m | SGD 932.0m | SGD 889.2m | SGD 794.4m | SGD 837.7m | SGD 821.1m | SGD 849.7m |
| Shareholders' equity | SGD 2.77bn | SGD 2.89bn | SGD 2.86bn | SGD 2.88bn | SGD 2.95bn | SGD 3.07bn | SGD 2.97bn | SGD 3.00bn |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 31.3% | 31.9% | 29.7% | 28.6% | 31.0% | 32.5% | — | — | — | — |
| Operating margin | 13.2% | 14.3% | 12.4% | 6.7% | 8.3% | 7.7% | — | — | — | — |
| Net margin | 6.1% | 7.0% | 6.3% | 6.2% | 7.5% | 8.1% | — | — | — | — |
| Return on equity | 5.1% | 5.3% | 4.5% | 4.1% | 4.7% | 5.0% | — | — | — | — |
| Return on assets | 2.8% | 2.9% | 2.6% | 2.5% | 2.9% | 3.1% | — | — | — | — |
| Free cash flow yield | — | — | — | — | 17.2% | 7.7% | 18.9% | 12.8% | 7.0% | 13.1% |
| Revenue growth | 7.4% | 3.0% | 4.8% | 6.6% | 2.5% | -3.6% | — | — | — | — |
| Earnings growth | -6.4% | 13.3% | 6.7% | -11.1% | -5.9% | -2.2% | — | — | — | — |
| Current ratio | 1.34x | 1.68x | 1.39x | 1.97x | 1.24x | 1.98x | — | — | — | — |
| Debt to equity | 0.27x | 0.33x | 0.27x | 0.27x | 0.17x | 0.27x | — | — | — | — |
| Equity ratio | 55.1% | 55.1% | 57.5% | 61.6% | 61.4% | 62.2% | — | — | — | — |
| Interest coverage | 7.25x | 7.40x | 7.00x | 5.17x | 6.23x | 5.75x | — | — | — | — |
| Buybacks as a share of market value | — | — | — | — | -0.1% | 0.0% | 1.0% | -1.0% | 1.5% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.1% | 4.8% | 0.9% |
| Operating income | 20.7% | 9.9% | 14.3% |
| Net income | 4.2% | -1.1% | -13.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 31.6% | 30.4% | 30.8% | 32.2% |
| Operating margin | 9.6% | 8.2% | 8.1% | 7.0% |
| Net margin | 6.5% | 6.4% | 6.8% | 14.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 15.1 | 13.0 | 11.6 | 14.8 | 14.6 | 14.2 | 16.4 | 20.4 | 2.9 | 28.4 |
| Price to sales | 0.9 | 0.9 | 0.7 | 0.9 | 1.1 | 1.1 | 1.3 | 1.4 | 2.0 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 19 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.055 | 0.085 | 0.065 | 0.05 | 0.05 | 0.05 | 0.055 | 0.045 |
- 5-for-1 split · 29 Jun 2006
- 1-to-1 reverse split · 10 Apr 2002
- 6-for-5 split · 7 Mar 1996
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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