FINANCIAL HIGHLIGHTS

Income Statement Highlights

(S$’000)FY2016FY2017FY2018FY2019
Sales30,97923,19324,37535,431
Gross Profit5,9136,7479,0628,589
PAT4,2374,1016,3885,223

FY2016

  • Strong performance in FY2016 due to (i) higher harvest yields; and (ii) an increase in the number of milking cows and gross milk yield
  • Significant part of harvest in FY2016 was sold in FY2016 due to higher prices of most crops in FY2016

 

FY2017

  • Late harvest of corn and sunflower in FY2017, low corn yield and quality due to weather conditions. A significant portion of harvest in FY2017 was sold in HY2018 due to lower price in FY2017
  • Revenue from dairy production increased in FY2017 due to (i) an increase in the number of milking cows; (ii) higher gross milk yield; and (iii) higher raw milk prices.

 

FY2018

  • Strong performance recorded in FY2018, as a portion of agricultural produce harvested in FY2017 was sold in FY2018, due mainly to the lower prices of winter wheat, corn and sunflower in FY2017.

 

FY2019

  • Revenue growth recorded in FY2019 due to (i) higher yield per hectare of land in FY2019; (ii) higher market price for sunflowers harvested in FY2019; (iii) the sale of a portion of sunflowers harvested in FY2018 and sold in FY2019, due to lower prices of sunflowers in FY2018.
  • Revenue from dairy production also increased in FY2019 due to (i) the increase in the milk yield per cow from 17.1 litres to 18.5 litres; and (ii) the increase in price of raw milk from S$0.59 to S$0.62 per litre.

Balance Sheet Highlights

(S$’000)FY2016FY2017 FY2018FY2019
Current assets16,61220,69519,98624,878
Non-Current assets18,10321,13818,82426,489
Total assets34,71541,83338,810

51,367
Current Liabilities3,33914,0348,068
8,107
Non-Current Liabilities11,6763191,298
5,771
Total liabilities15,01514,3539,366
13,878
Total Equity19,70027,48029,444
37,489
Net Current Assets13,2736,66111,91816,771