Hi-P International Limited reported unaudited group earnings results for the fourth quarter, second half and full year ended of December 31, 2017. For the quarter, the company reported revenue of SGD 491,818,000 compared to SGD 356,780,000 a year ago, mainly due to higher sales volume resulting from the mass production of certain projects in fourth quarter of 2017. Profit before tax was SGD 70,132,000 compared to SGD 34,829,000 a year ago. Profit for the period attributable to owners of the company was SGD 59,621,000 or 7.34 cents per diluted share compared to SGD 28,536,000 or 3.50 cents per diluted share a year ago. Net cash flows generated from operating activities was SGD 67,413,000 compared to SGD 116,226,000 a year ago. Purchase of property, plant and equipment was SGD 6,699,000 compared to SGD 5,902,000 a year ago.

For the second half, the company reported sales of SGD 903,154,000 against SGD 744,120,000 a year ago. Operating profit after tax before deducting non-controlling interests reported was SGD 97,986,000 against SGD 59,248,000 a year ago.

For the full year, the company reported revenue of SGD 1,426,866,000 compared to SGD 1,305,071,000 a year ago, mainly due to higher sales volume for 2017. Profit before tax was SGD 146,312,000 compared to SGD 71,180,000 a year ago. Profit for the period attributable to owners of the company was SGD 121,492,000 or 14.95 cents per diluted share compared to SGD 54,525,000 or 6.69 cents per diluted share a year ago. Net cash flows generated from operating activities was SGD 260,219,000 compared to SGD 267,801,000 a year ago. Purchase of property, plant and equipment was SGD 31,600,000 compared to SGD 53,930,000 a year ago. Net asset value per ordinary share based on issued share capital at the end of the period was 65.44 cents against 71.62 cents a year ago.

For the quarter, the company reported property, plant and equipment written off of SGD 94,000 compared to SGD 1,000 a year ago. Impairment loss on property, plant and equipment & intangible asset was SGD 14,000 against SGD 2,743,000 a year ago.

The Group expects higher revenue and profit in first quarter of 2018 as compared to first quarter of 2017.

The Group expects higher revenue and profit in fiscal year 2018 as compared to fiscal year 2017.