FIVE-YEAR SUMMARY
Financial Statements
148
COSCO Corporation (Singapore) Limited
Note
2010
2011
2012
2013
2014
$’000
$’000
$’000
$’000
$’000
PROFIT OR LOSS
Sales
3,861,445 4,162,921 3,734,261 3,508,134 4,260,705
Operating profit before taxation
401,873
286,842
229,041
60,535
17,448
Share of (loss)/profit of
associated companies
1
(27)
717
580
407
(197)
Profit before income tax
401,846
287,559
229,621
60,942
17,251
Income tax (expense)/credit
(43,420)
(74,195)
(59,842)
(8,157)
9,026
Net profit
358,606
213,364
169,779
52,785
26,277
Attributable to:
Equity holders of the company
248,837
139,671
105,685
30,615
20,893
Non-controlling interests
109,769
73,693
64,094
22,170
5,384
Net profit
358,606
213,364
169,779
52,785
26,277
Dividend
2
89,570
67,177
44,785
22,392
11,196
BALANCE SHEET
Share capital
270,608
270,608
270,608
270,608
270,608
Statutory and other reserves
103,950
181,320
152,927
245,139
284,328
Retained earnings
824,059
849,305
857,971
820,027
812,819
Non-controlling interests
595,860
699,241
767,699
839,307
861,750
Total equity
1,794,477 2,000,474 2,049,205 2,175,081 2,229,505
Trade and other receivables
49,089
63,867
44,344
36,874
4,377
Available-for-sale financial assets
3,434
4,407
4,244
4,391
4,841
Club memberships
557
390
310
303
303
Investments in associated companies
3,569
4,102
4,235
4,826
4,736
Investment properties
14,619
14,405
11,730
11,293
10,990
Property, plant and equipment
2,207,952 2,412,126 2,225,689 2,227,868 2,267,057
Intangible assets
9,468
9,526
9,477
9,539
9,564
Deferred expenditure
3,169
3,211
3,020
3,066
3,029
Deferred income tax assets
212,703
241,513
201,914
225,212
267,901
Current assets
3,548,782 4,246,963 4,888,594 6,211,360 7,372,499
Current liabilities
(3,817,496) (4,496,234) (3,778,379) (4,702,660) (5,172,565)
Non-current liabilities
(441,369)
(503,802) (1,565,973) (1,856,991) (2,543,227)
Net Assets
1,794,477 2,000,474 2,049,205 2,175,081 2,229,505
RATIOS
Basic earnings per share (cents)
3
11.1
6.2
4.7
1.4
0.9
Dividend per share (cents)
4.0
3.0
2.0
1.0
0.5
Dividend cover (times)
4
2.8
2.1
2.4
1.4
1.9
Net tangible assets per share (cents)
53.1
57.7
56.8
59.2
60.7
Gearing ratio (Net of Cash)
5
0.1
0.4
1.0
1.3
2.5
Notes
1.
The share of (loss)/profit of associated companies is net of tax.
2.
The dividend for 2014 is calculated based on the number of shares issued as of 31 December 2014. The
actual amount payable will be based on the number of shares issue at book closure date, which will be
accounted for in equity as an appropriation of retained earnings in the financial year ending 31 December
2015.
3.
Basic earnings per share is calculated as net profit attributable to equity holders of the company divided by
the weighted average number of ordinary shares issued in the financial year.
4.
The dividend cover is calculated as net profit attributable to equity holders of the Company divided by the
amount of equity dividend.
5.
Gearing ratio is derived by taking total borrowings (net of cash) over the shareholders’ funds.
