Hi-P International Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended of December 31, 2016; Provides Earnings Guidance for the First Quarter of 2017 and Fiscal Year 2017
For the full year, the company reported revenue of SGD 1,305,071,000 compared to SGD 1,362,577,000 a year ago. Profit After Tax was SGD 54,520,000 compared to loss of SGD 45,423,000 a year ago. Earnings per Share were 6.69 cents against loss per share of 5.56 cents a year ago. CAPEX was SGD 23.1 million. Core business generated strong positive operating cash flow of SGD 267.8 million.
For the first quarter of 2017, the group expects lower revenue as compared to first quarter of 2016. The Group expects to breakeven in quarter of 2017.
For the fiscal year 2017, The Group expects lower revenue but higher profit as compared to fiscal year 2016.