Hi-P International Limited reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported revenue of SGD 279,522,000 compared to SGD 285,368,000 a year ago. Profit before tax was SGD 17,759,000 compared to SGD 11,979,000 a year ago. Profit for the period was SGD 15,097,000 compared to SGD 7,644,000 a year ago. Profit attributable to owners of the company was SGD 15,099,000 or 1.87 cents per diluted share compared to SGD 7,645,000 or 0.94 cents per diluted share a year ago. Net cash flows generated from operating activities were SGD 51,469,000 compared to SGD 13,532,000 a year ago. Purchase of property, plant and equipment was SGD 12,330,000 compared to SGD 9,573,000 a year ago.

For six months, the company reported revenue of SGD 523,712,000 compared to SGD 560,951,000 a year ago. Profit before tax was SGD 29,632,000 compared to SGD 1,637,000 a year ago. Profit for the period was SGD 23,497,000 compared to loss for the period of SGD 4,728,000 a year ago. Profit attributable to owners of the company was SGD 23,501,000 or 2.91 cents per diluted share compared to loss attributable to owners of the company of SGD 4,727,000 or 0.58 cents per diluted share a year ago. Net cash flows generated from operating activities were SGD 155,771,000 compared to SGD 106,404,000 a year ago. Purchase of property, plant and equipment was SGD 19,626,000 compared to SGD 44,049,000 a year ago.

The company provided group earnings guidance for the third quarter, second half and fiscal year of 2017. Barring any unforeseen circumstances, the Group expects its performance as follows: The Group expects similar revenue and profit in third quarter of 2017 as compared to third quarter of 2016.

The Group expects higher revenue and profit for the second half of 2017 as compared to first half of 2017.

The Group expects similar revenue but higher profit for the fiscal year 2017 as compared to fiscal year 2016.

For the second quarter, the company reported Property, plant and equipment written off was SGD 33,000.