Hyflux has reported that group revenue went up by 66% to $329.3 million and profit after tax and minority interests (PATMI) by 15% to $25.2 million respectively for the half year ended 30 June 2012, driven largely by activities in Asia. In the first six months of FY2011, group revenue was $197.9 million while PATMI was $21.9 million.
Group revenue for the second quarter of FY2012 rose by 71% to $190.4 million, while PATMI grew by 21% to $17.5 million.
In the first half of FY2012, raw materials and consumables used and sub-contractors’ costs increased to $209.3 million compared with $99.3 million in the first half of FY2011.
This was largely in line with the revenue growth from projects in Asia outside of China. Staff costs also went up by 44% from $25.9 million to $37.3 million.
Finance costs went up by 21% to $13.7 million from $11.3 million due to the increase in bank
borrowings.
The gross margin achieved for the six-month period ended 30 June 2012 was at 36% and net margin was 8%. As at 30 June 2012, the group’s cash and cash equivalents stood at $635.3 million and net gearing was 0.4 times.
An interim dividend of 0.7 cents per share has been recommended for the six-month reporting period of FY2012.
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