155
COSCO Corporation (Singapore) Limited
Annual Report 2015
FIVE-YEAR
SUMMARY
Financial Statements
Note
2011
2012
2013
2014
2015
$’000
$’000
$’000
$’000
$’000
PROFIT OR LOSS
Sales
4,162,921 3,734,261 3,508,134 4,260,705 3,519,773
Operating profit/(loss) before taxation
286,842
229,041
60,535
17,448 (901,196)
Share of profit/(loss) of
associated companies
1
717
580
407
(197)
30
Profit/(loss) before income tax
287,559
229,621
60,942
17,251 (901,166)
Income tax (expense)/credit
(74,195)
(59,842)
(8,157)
9,026
(13,669)
Net profit/(loss)
213,364
169,779
52,785
26,277 (914,835)
Attributable to:
Equity holders of the company
139,671
105,685
30,615
20,893 (569,958)
Non-controlling interests
73,693
64,094
22,170
5,384 (344,877)
Net profit/(loss)
213,364
169,779
52,785
26,277 (914,835)
Dividend
2
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
181,320
152,927
245,139
284,328
328,838
Retained earnings
849,305
857,971
820,027
812,819
222,586
Non-controlling interests
699,241
767,699
839,307
861,750
517,951
Total equity
2,000,474 2,049,205 2,175,081 2,229,505 1,339,983
Trade and other receivables
63,867
44,344
36,874
4,377
–
Available-for-sale financial assets
4,407
4,244
4,391
4,841
4,890
Club memberships
390
310
303
303
311
Investments in associated companies
4,102
4,235
4,826
4,736
4,854
Investment properties
14,405
11,730
11,293
10,990
10,579
Property, plant and equipment
2,412,126 2,225,689 2,227,868 2,267,057 2,307,323
Intangible assets
9,526
9,477
9,539
9,564
9,583
Deferred expenditure
3,211
3,020
3,066
3,029
2,980
Deferred income tax assets
241,513
201,914
225,212
267,901
236,932
Current assets
4,246,963 4,888,594 6,211,360 7,372,499 7,777,241
Current liabilities
(4,496,234)
(3,778,379)
(4,702,660)
(5,172,565)
(6,467,535)
Non-current liabilities
(503,802)
(1,565,973)
(1,856,991)
(2,543,227)
(2,547,175)
Net Assets
2,000,474 2,049,205 2,175,081 2,229,505 1,339,983
RATIOS
Basic earnings per share (cents)
3
6.2
4.7
1.4
0.9
(25.5)
Dividend per share (cents)
3.0
2.0
1.0
0.5
–
Dividend cover (times)
4
2.1
2.4
1.4
1.9
–
Net tangible assets per share (cents)
57.7
56.8
59.2
60.7
36.3
Gearing ratio (Net of Cash)
5
0.4
1.0
1.3
2.5
6.0
Notes
1.
The share of profit/(loss) of associated companies is net of tax.
2.
No dividend has been declared/recommended for the financial year ended 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.
