Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 76%.
The primary driver behind last 12 months revenue was the Logistics segment contributing a total revenue of S$1.17b (69% of total revenue). Notably, cost of sales worth S$1.40b amounted to 83% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to S$112.0m (52% of total expenses).
Looking ahead, revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Logistics industry in Asia.
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