Tiong Seng Holdings Ltd
SGX:BFI
Income Statement
Earnings Waterfall
Tiong Seng Holdings Ltd
Income Statement
Tiong Seng Holdings Ltd
| Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Jun-2020 | Dec-2020 | Jun-2021 | Dec-2021 | Jun-2022 | Dec-2022 | Jun-2023 | Dec-2023 | Jun-2024 | Dec-2024 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
7
|
0
|
0
|
0
|
6
|
0
|
0
|
0
|
5
|
0
|
0
|
0
|
2
|
0
|
0
|
0
|
4
|
1
|
2
|
1
|
2
|
2
|
3
|
5
|
6
|
6
|
5
|
|
| Revenue |
502
N/A
|
499
-1%
|
511
+3%
|
555
+9%
|
557
+0%
|
579
+4%
|
655
+13%
|
678
+4%
|
702
+3%
|
717
+2%
|
669
-7%
|
601
-10%
|
541
-10%
|
545
+1%
|
564
+4%
|
709
+26%
|
772
+9%
|
753
-3%
|
774
+3%
|
693
-10%
|
714
+3%
|
758
+6%
|
803
+6%
|
777
-3%
|
654
-16%
|
542
-17%
|
379
-30%
|
328
-14%
|
352
+8%
|
369
+5%
|
406
+10%
|
338
-17%
|
236
-30%
|
312
+32%
|
293
-6%
|
263
-10%
|
356
+35%
|
368
+3%
|
475
+29%
|
563
+19%
|
536
-5%
|
|
| Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(455)
|
(446)
|
(456)
|
(499)
|
(497)
|
(522)
|
(603)
|
(628)
|
(660)
|
(673)
|
(620)
|
(554)
|
(492)
|
(495)
|
(500)
|
(639)
|
(693)
|
(677)
|
(708)
|
(633)
|
(650)
|
(686)
|
(717)
|
(689)
|
(575)
|
(471)
|
(327)
|
(277)
|
(306)
|
(328)
|
(359)
|
(308)
|
(244)
|
(306)
|
(297)
|
(304)
|
(396)
|
(385)
|
(452)
|
(529)
|
(509)
|
|
| Gross Profit |
47
N/A
|
52
+12%
|
56
+6%
|
56
+1%
|
60
+6%
|
57
-4%
|
52
-10%
|
50
-2%
|
42
-16%
|
44
+4%
|
49
+12%
|
48
-3%
|
49
+3%
|
50
+1%
|
64
+30%
|
70
+9%
|
79
+12%
|
76
-4%
|
66
-12%
|
61
-9%
|
64
+6%
|
72
+13%
|
86
+19%
|
89
+3%
|
80
-10%
|
71
-11%
|
52
-26%
|
51
-3%
|
46
-10%
|
41
-11%
|
46
+13%
|
30
-36%
|
(8)
N/A
|
7
N/A
|
(3)
N/A
|
(41)
-1 098%
|
(40)
+1%
|
(18)
+56%
|
23
N/A
|
34
+48%
|
27
-21%
|
|
| Operating Income | ||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(30)
|
(30)
|
(34)
|
(27)
|
(30)
|
(33)
|
(29)
|
(38)
|
(33)
|
(48)
|
(72)
|
(71)
|
(70)
|
(52)
|
(34)
|
(32)
|
(34)
|
(33)
|
(34)
|
(34)
|
(33)
|
(33)
|
(35)
|
(35)
|
(36)
|
(38)
|
(37)
|
(38)
|
(38)
|
(37)
|
(37)
|
(28)
|
(32)
|
(29)
|
(33)
|
(39)
|
(34)
|
(27)
|
(31)
|
(25)
|
(23)
|
|
| Selling, General & Administrative |
(22)
|
(22)
|
(22)
|
(22)
|
(23)
|
(24)
|
(26)
|
(28)
|
(26)
|
(24)
|
(22)
|
(21)
|
(22)
|
(22)
|
(24)
|
(23)
|
(24)
|
(24)
|
(25)
|
(22)
|
(22)
|
(22)
|
(23)
|
(24)
|
(23)
|
(24)
|
(23)
|
(24)
|
(24)
|
(24)
|
(23)
|
(22)
|
(19)
|
(19)
|
(21)
|
(22)
|
(21)
|
(20)
|
(19)
|
(18)
|
(17)
|
|
| Depreciation & Amortization |
(5)
|
(5)
|
(5)
|
(5)
|
(6)
|
(7)
|
(6)
|
(6)
|
(5)
|
(5)
|
(6)
|
(7)
|
(7)
|
(7)
|
(7)
|
(6)
|
(5)
|
(5)
|
(4)
|
(5)
|
(5)
|
(5)
|
(5)
|
(6)
|
(7)
|
(8)
|
(7)
|
(8)
|
(7)
|
(7)
|
(8)
|
(8)
|
(8)
|
(8)
|
(7)
|
(7)
|
(7)
|
(6)
|
(4)
|
(4)
|
(5)
|
|
| Other Operating Expenses |
(4)
|
(3)
|
(8)
|
(1)
|
(1)
|
(2)
|
3
|
(4)
|
(2)
|
(19)
|
(43)
|
(44)
|
(41)
|
(23)
|
(3)
|
(3)
|
(5)
|
(4)
|
(4)
|
(6)
|
(6)
|
(6)
|
(7)
|
(5)
|
(6)
|
(6)
|
(7)
|
(7)
|
(6)
|
(5)
|
(7)
|
1
|
(5)
|
(3)
|
(5)
|
(11)
|
(7)
|
(1)
|
(8)
|
(2)
|
(1)
|
|
| Operating Income |
17
N/A
|
23
+32%
|
21
-7%
|
29
+36%
|
30
+2%
|
24
-17%
|
23
-6%
|
13
-45%
|
9
-28%
|
(4)
N/A
|
(22)
-460%
|
(23)
-3%
|
(21)
+8%
|
(2)
+89%
|
31
N/A
|
38
+25%
|
45
+17%
|
42
-6%
|
32
-23%
|
27
-16%
|
31
+13%
|
39
+28%
|
51
+30%
|
54
+5%
|
44
-19%
|
33
-24%
|
15
-55%
|
13
-16%
|
8
-34%
|
4
-46%
|
9
+105%
|
1
-87%
|
(40)
N/A
|
(23)
+43%
|
(37)
-61%
|
(80)
-117%
|
(75)
+6%
|
(45)
+40%
|
(8)
+82%
|
9
N/A
|
4
-59%
|
|
| Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
23
|
14
|
8
|
7
|
1
|
2
|
(3)
|
(3)
|
(4)
|
(3)
|
(2)
|
(0)
|
(1)
|
(5)
|
(7)
|
(14)
|
(15)
|
(14)
|
(8)
|
(6)
|
(5)
|
(5)
|
(4)
|
(6)
|
(4)
|
(5)
|
(3)
|
(7)
|
(7)
|
(8)
|
(1)
|
(2)
|
(5)
|
(3)
|
(1)
|
(1)
|
3
|
(2)
|
(3)
|
(0)
|
3
|
|
| Non-Reccuring Items |
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
0
|
7
|
12
|
10
|
5
|
9
|
0
|
(14)
|
(16)
|
(11)
|
(12)
|
(1)
|
(1)
|
0
|
|
| Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
(0)
|
0
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
(3)
|
0
|
0
|
0
|
(4)
|
0
|
0
|
0
|
(1)
|
0
|
(0)
|
0
|
0
|
0
|
(3)
|
0
|
(1)
|
0
|
(1)
|
|
| Pre-Tax Income |
40
N/A
|
37
-8%
|
29
-22%
|
36
+22%
|
31
-13%
|
27
-14%
|
20
-24%
|
10
-50%
|
5
-49%
|
(7)
N/A
|
(25)
-234%
|
(24)
+4%
|
(23)
+5%
|
(7)
+70%
|
23
N/A
|
25
+6%
|
30
+19%
|
28
-6%
|
24
-12%
|
22
-12%
|
25
+18%
|
35
+36%
|
44
+28%
|
48
+8%
|
39
-18%
|
28
-28%
|
9
-69%
|
5
-41%
|
8
+59%
|
9
+8%
|
18
+102%
|
4
-77%
|
(37)
N/A
|
(26)
+29%
|
(52)
-99%
|
(98)
-88%
|
(86)
+12%
|
(59)
+32%
|
(13)
+78%
|
8
N/A
|
6
-26%
|
|
| Net Income | ||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(11)
|
(9)
|
(3)
|
(3)
|
(6)
|
(5)
|
(11)
|
(11)
|
(8)
|
(8)
|
(5)
|
(5)
|
(5)
|
(5)
|
(9)
|
(9)
|
(12)
|
(11)
|
(9)
|
(8)
|
(7)
|
(8)
|
(10)
|
(11)
|
(10)
|
(8)
|
(0)
|
0
|
(3)
|
(2)
|
(8)
|
(6)
|
2
|
2
|
(1)
|
(1)
|
1
|
2
|
(0)
|
(1)
|
(3)
|
|
| Income from Continuing Operations |
30
|
28
|
27
|
33
|
25
|
21
|
9
|
(1)
|
(3)
|
(15)
|
(30)
|
(29)
|
(27)
|
(12)
|
15
|
16
|
18
|
16
|
16
|
14
|
18
|
26
|
34
|
37
|
30
|
20
|
8
|
5
|
6
|
7
|
10
|
(2)
|
(35)
|
(24)
|
(53)
|
(99)
|
(85)
|
(56)
|
(14)
|
7
|
3
|
|
| Income to Minority Interest |
1
|
1
|
(1)
|
(1)
|
0
|
2
|
0
|
1
|
1
|
3
|
14
|
15
|
14
|
9
|
(4)
|
(5)
|
(4)
|
(4)
|
(1)
|
(1)
|
(2)
|
(2)
|
(0)
|
1
|
1
|
2
|
0
|
(0)
|
0
|
(1)
|
1
|
0
|
3
|
3
|
3
|
3
|
0
|
(0)
|
1
|
1
|
0
|
|
| Net Income (Common) |
31
N/A
|
29
-6%
|
26
-11%
|
32
+25%
|
26
-20%
|
23
-11%
|
9
-59%
|
(0)
N/A
|
(2)
-667%
|
(13)
-443%
|
(15)
-22%
|
(14)
+10%
|
(14)
+1%
|
(3)
+78%
|
10
N/A
|
11
+5%
|
14
+28%
|
13
-6%
|
15
+18%
|
13
-18%
|
16
+29%
|
25
+52%
|
34
+38%
|
38
+11%
|
31
-19%
|
21
-31%
|
9
-59%
|
5
-41%
|
6
+6%
|
6
+9%
|
11
+77%
|
(1)
N/A
|
(32)
-2 305%
|
(21)
+33%
|
(50)
-134%
|
(96)
-90%
|
(85)
+11%
|
(56)
+33%
|
(12)
+78%
|
8
N/A
|
3
-66%
|
|
| EPS (Diluted) |
0.07
N/A
|
0.09
+29%
|
0.05
-44%
|
0.07
+40%
|
0.06
-14%
|
0.06
N/A
|
0.03
-50%
|
0
N/A
|
-0.01
N/A
|
-0.04
-300%
|
-0.04
N/A
|
-0.03
+25%
|
-0.03
N/A
|
0
N/A
|
0.02
N/A
|
0.03
+50%
|
0.04
+33%
|
0.03
-25%
|
0.03
N/A
|
0.02
-33%
|
0.03
+50%
|
0.05
+67%
|
0.08
+60%
|
0.08
N/A
|
0.06
-25%
|
0.04
-33%
|
0.02
-50%
|
0.01
-50%
|
0.01
N/A
|
0.01
N/A
|
0.02
+100%
|
0
N/A
|
-0.07
N/A
|
-0.05
+29%
|
-0.11
-120%
|
-0.22
-100%
|
-0.19
+14%
|
-0.13
+32%
|
-0.03
+77%
|
0.02
N/A
|
0.01
-50%
|
|