I invested in The Hour Glass in the year 2015 on the back of its strong cash position (
My Personal Analysis of The Hour Glass).
On 24th May 2016, The Hour Glass announced its full year financial results (FY2016).
Profit after tax fell by 10%.
What was surprising when I read the press release by the company was that the drop in profit after tax was partly due to a one time donation of S$5.0 million advance special needs, community and cultural causes in Singapore in conjunction with Singapore‟s 50th Anniversary. Although the donation partially caused the fell in profit before tax, I need to applaud the company for its philanthropic actions.
Below is the financial results that was released.
| Unaudited Full Year Results
For the Year ended: |
31 Mar ’16
$’000 |
31 Mar ’15
$’000 |
Change % |
| Revenue |
707,525 |
734,938 |
(4%) |
| Profit Before Taxation |
66,968 |
75,404 |
... |
...
