Financial Performance - Revenue for the six months ended June 30, 2022, was SGD 26,671,302, representing a 24.5% increase from SGD 21,425,543 in the same period of 2021[32] - Gross profit for the same period was SGD 7,580,768, up from SGD 6,579,218, indicating a gross margin improvement[32] - Net profit for the period was SGD 2,754,737, compared to SGD 1,145,761 in the prior year, reflecting a significant increase of 140.5%[32] - Basic and diluted earnings per share increased to SGD 0.22 from SGD 0.09, marking a 144.4% rise[32] - Operating cash flow for the six months ended June 30, 2022, was SGD 3,474,204, up from SGD 2,248,739 in the previous year, indicating a growth of about 54.5%[43] - The company reported a profit of SGD 2,754,737 for the six months ended June 30, 2022, compared to SGD 1,145,761 for the same period in 2021, representing an increase of approximately 140%[39] - The group reported a net profit of SGD 7,580,768 for the six months ended June 30, 2022, compared to SGD 6,579,218 in the same period of 2021, indicating a growth of 15.2%[64] - Net profit rose from approximately SGD 1.1 million to SGD 2.8 million, with net profit margin increasing from about 5.1% to 10.5%[162] Assets and Liabilities - Total assets as of June 30, 2022, were SGD 41,371,018, compared to SGD 37,015,955 as of December 31, 2021, showing an increase of 11.4%[34] - Total liabilities decreased to SGD 8,830,623 from SGD 10,323,690, a reduction of 14.4%[37] - Net assets increased to SGD 43,440,426 from SGD 40,685,689, reflecting a growth of 6.9%[37] - Trade receivables rose to SGD 12,285,074 from SGD 10,887,339, an increase of 12.8%[34] - Cash and cash equivalents increased to SGD 26,932,416 from SGD 23,908,104, representing a growth of 12.6%[34] - The company’s total equity as of June 30, 2022, was SGD 43,440,426, up from SGD 38,975,098 at the end of June 2021, marking an increase of around 11.9%[39] - The total current liabilities decreased from SGD 4,522,673 as of December 31, 2021, to SGD 4,309,715 as of June 30, 2022, representing a decline of 4.7%[107] Revenue Breakdown - Revenue from truck transportation services reached SGD 9,602,951 for the six months ended June 30, 2022, up from SGD 8,750,185 in the same period of 2021, representing an increase of 9.7%[64] - Freight forwarding services generated revenue of SGD 13,933,633, compared to SGD 10,204,942 in the previous year, marking a growth of 36.0%[64] - Value-added transportation services saw revenue rise to SGD 3,134,718 from SGD 2,470,416, reflecting an increase of 26.9%[64] - Total revenue from external customers amounted to SGD 26,671,302, a 24.0% increase from SGD 21,425,543 in the prior year[64] Costs and Expenses - The company reported a decrease in financing costs to SGD 75,383 from SGD 122,007, a reduction of 38.2%[32] - Total employee costs amounted to SGD 4,855,764, a decrease of 2.6% from SGD 4,985,694 in the previous year[74] - The company recorded interest expenses of SGD 75,383, down 38.2% from SGD 122,007 in the prior year, indicating improved financing efficiency[73] - The company’s tax expense for the period was SGD 427,500, a decrease from SGD 477,492 in the prior year, reflecting a tax rate of 17% on estimated taxable profits[77] Strategic Plans and Investments - The company plans to continue expanding its market presence and investing in new technologies to enhance service offerings[47] - The company plans to strategically acquire logistics companies providing warehousing services and expand outdoor storage services to enhance operational scale[doc id='146'] - The company aims to improve process efficiency and enhance stakeholder value through resource investment[147] - The company plans to utilize approximately 42.6% of the net proceeds (SGD 17.7 million) for strategic acquisitions, with an expected timeline for utilization by December 31, 2022[179] - The company has allocated approximately 39.7% of the net proceeds (SGD 16.5 million) for expanding its freight service fleet, with an expected timeline for utilization by December 31, 2023[179] Governance and Management - The chairman and CEO roles are held by the same individual, Mr. Huang, which deviates from the corporate governance code[191] - Mr. Huang holds 937,500,000 shares, representing 75% of the issued share capital[194] - The audit committee has reviewed and approved the unaudited consolidated financial statements for the six months ending June 30, 2022[192] - The company will periodically review its governance structure to ensure appropriateness[186] Other Financial Metrics - The company’s debt ratio decreased to approximately 6.3% as of June 30, 2022, compared to 9.8% as of December 31, 2021, primarily due to a reduction in bank loans and lease liabilities[167] - The actual tax rate for the six months ended June 30, 2022, was approximately 12.5%, significantly lower than Singapore's statutory corporate tax rate of 17%[161] - The company has no significant investments or capital asset plans beyond those disclosed in the prospectus as of June 30, 2022[171]
LEGION CONSO(02129) - 2022 - 中期财报