Financial Performance
Financial Years Ended 31 December 2020, 2021, 2022, 2023 and the First Quarter 2024 Ended 31 March 2024
Financial Performance| FY2020 | FY2021 | FY2022(3) | FY2023(3) | 1Q2024(3) | |
|---|---|---|---|---|---|
| For the Year/Period (S$ Million) | |||||
| Total net revenue(6) | 86.64 | 113.91 | 118.24 | 161.66 | 58.11 |
| Profit before tax | 25.39 | 35.82 | 15.96(4) | 36.58 | 18.12 |
| Profit after tax | 20.96 | 30.41 | 10.55(4) | 27.01 | 14.19 |
| Net profit attributable to owners of the Company | 21.15 | 30.63 | 11.62(4) | 28.27 | 14.51 |
| Net Revenue(6) | |||||
| Recurring net revenue | 61.17 | 79.38 | 83.86 | 131.94 | 50.43 |
| Non-recurring net revenue | 25.47 | 34.53 | 34.38 | 29.72 | 7.68 |
| Total net revenue(6) | 86.64 | 113.91 | 118.24 | 161.66 | 58.11 |
| Per Share | |||||
| Earnings per share (cents) | 7.80 | 11.10 | 3.97(4) | 9.59 | 4.89 |
| Dividend per share (cents) | 3.30 | 4.80 | 4.80 | 4.80 | 1.30 |
| Financial Ratios | |||||
| Profit before tax margin (based on net revenue) | 29.6% | 31.6% | 13.5%(4) | 22.6% | 31.2% |
| Return on equity (per annum)(1) | 21.8% | 25.8% | 5.0%(4), (5) | 12.2% | 21.9% |
Financial Position and Operating Cashflows
| FY2020 | FY2021 | FY2022 | FY2023 | 1Q2024 | |
|---|---|---|---|---|---|
| At Year/Period End (S$ Million) | |||||
| Non-current assets | 59.68 | 70.21 | 130.41 | 165.68 | 186.27 |
| Net current assets | 58.35 | 68.03 | 108.45 | 110.66 | 107.72 |
| Non-current liabilities | (14.63) | (10.61) | (8.15) | (18.97) | (17.14) |
| Net assets | 103.40 | 127.63 | 230.71 | 257.37 | 276.85 |
| Shareholders' equity | 104.11 | 128.65 | 222.49 | 250.20 | 269.86 |
| Net cash from operating activities | 41.56 | 46.53 | 47.40 | 273.45 | 149.81 |
Notes:
(1) Return on equity is calculated based on the average of the month-end shareholders' equity for the respective year or period.
(2) Adoption of SFRS(I) 16 Leases with effect from 1 January 2019.
(3) Includes the new banking operation from end of March 2022.
(4) Excluding impairment loss of S$5.2 million related to India Business recognised in Jun 2022.
(5) The Group conducted a S$103 million share placement exercise in January 2022.
(6) Including net interest revenue.