| 2003 in $'000 | 2004 in $'000 | 2005 in $'000 | 2006 in $'000 | 2007 in $'000 | |
| Group revenue | 135,233 | 104,820 | 168,869 | 306,190 | 307,638 |
| Profit before tax | 35,328 | 49,847 | 95,229 | 127,868 | 135,125 |
| Profit attributable to shareholders | 32,888 | 46,218 | 86,108 | 107,328 | 120,744 |
| Earnings per share (cents) | 4.50 | 6.24 | 11.50 | 14.20 | 15.80 |
| Net tangible asset backing per ordinary share (cents) | 24.23 | 27.15 | 33.98 | 41.93 | 49.10 |
| Total assets | 319,836 | 387,051 | 481,216 | 514,355 | 600,839 |
| Shareholders’ fund | 179,917 | 202,477 | 255,856 | 318,619 | 377,743 |
3rd Qtr FY 08 Report - Reported on 7 May 08
The Group’s total revenue for the 3rd Quarter under review was 32% higher than the previous
corresponding quarter. Both the Offshore Shipping and Shipbuilding Divisions recorded higher
revenues, at 12% and 41% respectively against a 8% lower revenue from the Conventional Shipping Division.
The increase in the Offshore Shipping Division revenue was mainly due to the addition of higher valued vessels such as anchor handling tug support vessels (“AHTS”), replacing the lower value tugs andbarges and a bigger fleet size. As at the end of the quarter under review, the Group owned 16 AHTS as compared to 10 AHTS a year ago. The fleet size of 29 was 2 more than a year ago.
Fleet utilisation was marginally lower at 77% compared to 78% in the previous corresponding quarter mainly due to downtime incurred for drydocking and maintenance of some offshore vessels. Owing to the sale of one accomodation barge which generated $2.3 million chartering revenue in the previous corresponding quarter and a weakened USD, the average daily vessel charter rate was only marginally higher at $8,360 from $8,355 in the previous corresponding quarter. Excluding the accommodation barge, the average daily vessel charter improved 11% during the quarter under review compared to the previous corresponding quarter.
The Conventional Shipping Division operated only a single vessel during the quarter under review, accounting for its revenue remaining flat. The 8% decrease in revenue was mainly attributable to lower USD exchange rate.
The Shipbuilding Division recorded a significant 41% increase in revenue. This was mainly attributable to a higher level of progressive revenue recognition for vessels under construction for which sale contracts with external buyers have been secured. During the quarter under review, such progressive recognition was applicable for seven vessels under construction at an average revenue recognition rate of 31% of their sale prices. In the previous corresponding quarter, there were eight vessels under progressive recognition but at a lower average rate of 13%.
The Group revenue for the 9 months was 15% lower than the previous corresponding period due to lower revenues from both the Offshore Shipping and Shipbuilding divisions. The Offshore Shipping Division was affected by the sale of two accomodation barges while the Shipbuilding Division had a lower level of progressive revenue recognitions for vessels under construction.
Jaya Holdings Closing Price on 23 May = S$1.57
Based on FY07 EPS , PE is slightly less than 10 (assuming that EPS remains same as FY08)
The Group’s total revenue for the 3rd Quarter under review was 32% higher than the previous
corresponding quarter. Both the Offshore Shipping and Shipbuilding Divisions recorded higher
revenues, at 12% and 41% respectively against a 8% lower revenue from the Conventional Shipping Division.
The increase in the Offshore Shipping Division revenue was mainly due to the addition of higher valued vessels such as anchor handling tug support vessels (“AHTS”), replacing the lower value tugs andbarges and a bigger fleet size. As at the end of the quarter under review, the Group owned 16 AHTS as compared to 10 AHTS a year ago. The fleet size of 29 was 2 more than a year ago.
Fleet utilisation was marginally lower at 77% compared to 78% in the previous corresponding quarter mainly due to downtime incurred for drydocking and maintenance of some offshore vessels. Owing to the sale of one accomodation barge which generated $2.3 million chartering revenue in the previous corresponding quarter and a weakened USD, the average daily vessel charter rate was only marginally higher at $8,360 from $8,355 in the previous corresponding quarter. Excluding the accommodation barge, the average daily vessel charter improved 11% during the quarter under review compared to the previous corresponding quarter.
The Conventional Shipping Division operated only a single vessel during the quarter under review, accounting for its revenue remaining flat. The 8% decrease in revenue was mainly attributable to lower USD exchange rate.
The Shipbuilding Division recorded a significant 41% increase in revenue. This was mainly attributable to a higher level of progressive revenue recognition for vessels under construction for which sale contracts with external buyers have been secured. During the quarter under review, such progressive recognition was applicable for seven vessels under construction at an average revenue recognition rate of 31% of their sale prices. In the previous corresponding quarter, there were eight vessels under progressive recognition but at a lower average rate of 13%.
The Group revenue for the 9 months was 15% lower than the previous corresponding period due to lower revenues from both the Offshore Shipping and Shipbuilding divisions. The Offshore Shipping Division was affected by the sale of two accomodation barges while the Shipbuilding Division had a lower level of progressive revenue recognitions for vessels under construction.
Jaya Holdings Closing Price on 23 May = S$1.57
Based on FY07 EPS , PE is slightly less than 10 (assuming that EPS remains same as FY08)
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