News and Announcements
DeClout Delivers High Earnings Growth In The First Half Of 2015
- Published August 14, 2015 10:19AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Singapore, 12 August 2015
Highlights:
- 3 year CAGR of 110%, delivering $121 million in revenue for 1H2015
- Reversed loss trend in half year results, with a profit for the first time in 1H2015
- Vertical Domain Clouds segment remains a stable and positive contributor to the Group
SGX-Catalist listed DeClout Limited (“DeClout” or the “Company”, and together with its subsidiaries, the “Group”) has announced its half year financial results for the half year ended 30 June 2015 (“1H2015”).
The Group continues its high growth in the third consecutive year, posting a 165% increase in revenue year-on-year to a record $ 121 million for 1H2015. This was the result of the Group’s mergers and acquisitions (M&A) as well as organic growth which had borne fruit across the IT Infrastructure Services and Vertical Domain Clouds (VDC) segments.
EBITDA jumped more than six-fold over the six-month period to $6.2 million. Gross profit increased by 142% to $29.1 million, with gross margin of 24% in 1H2015.
The Group’s focus on aggressive expansion has meant that the synergies from its M&A and cost rationalization have yet to kick in. Profit before tax, however, showed a full turnaround for the first time, recording a $1.7 million profit in 1H2015 from a $2.0 million loss in 1H2014. Profit after tax increased to $0.8 million in 1H2015, an improvement from a net loss after tax of $2.1 million in 1H2014. Profit attributable to shareholders turned positive in 1H2015 from a loss of $2.3 million to $0.1 million in profit.
The Group’s balance sheet remains strong with net asset value increasing by 41% to $83.8 million, and net current assets increasing by 42% to $34.0 million, from 31 December 2014 to 30 June 2015. Furthermore, net asset value per share increased by 8% to 15.14 cents as of 30 June 2015. Basic earnings per share (EPS) turned to a positive 0.03 cents in 1H2015 from a negative 0.74 cents in 1H2014.
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