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[Boon]

1Q2016 results (Released on 11 May 2016)
 
Revenue (SGD Million) 
1Q2014 = 12.802     (= 17% of FY2014 Revenue)
2Q2014 =   18.278      (= 24% of FY2014 Revenue)
3Q2014 =   19.229      (= 26% of FY2014 Revenue)
4Q2014 =   24.957      (= 33% of FY2014 Revenue)
1Q2015 = 13.507     (= 13% of FY2015 Revenue)
2Q2015 =   21.029     (=  21% of FY2015 Revenue)
3Q2015 =   26.191     (=  26% of FY2015 Revenue)
4Q2015 =   40.945     (=  40% of FY2015 Revenue)
1Q2016 =   35.226     (= X % of FY2016 Revenue)
 
1Q2016 revenue of 35.226 is the highest 1Q revenue and second highest quarterly revenue ever achieved. It was 14% lower than 4Q2015, the highest quarterly revenue ever achieved.
 
1Q has normally been the weakest quarter for the Group’s core business of Direct Selling due to its seasonal nature and the long Chinese New Year holidays.
 
If X = 25% => annualized FY2016 = 140.904 m which will be a new group revenue record (vs FY2015 revenue of 101.672m and record revenue of 102.180 m achieved in 2007)  
 
If X < 25%, FY2016 revenue would be even higher……….
 
1Q Revenue (SGD million):
1Q2007 = 19.267
1Q2008 = 25.495
1Q2009 = 18.976
1Q2010 = 11.526
1Q2011 =   9.308
1Q2012 =   9.326
1Q2013 =   9.022
1Q2014 = 12.802
1Q2015 = 13.507
1Q2016 = 35.226
(Highest 1Q revenue of all time)
 
NPAT / EPS
1Q2014 = 0.121 m / 0.06 cent
2Q2014 = 0.758 m / 0.34 cent
3Q2014 = 1.123 m / 0.51 cent
4Q2014 = 2.052 m / 0.93 cent
1Q2015 = 0.249 m / 0.11 cent
2Q2015 = 2.106 m / 0.96 cent
3Q2015 = 4.035 m / 1.83 cent
4Q2015 = 3.714 m / 1.69 cent
1Q2016 = 5.963 m / 2.71 cent
 
(1Q2016 NPAT/EPS of 5.963 m/2.71 cent = 59% of FY2015 NPAT/EPS of 10.104m / 4.59 cent)
Impressive ! 

GPM / NPM
1Q2014 = 74.0% / 0.9%
2Q2014 = 69.8% / 4.1%
3Q2014 = 75.5% / 5.8%
4Q2014 = 77.1% / 8.2%
1Q2015 = 74.9% / 1.8%
2Q2015 = 75.8% /10.0%
3Q2015 = 77.1% /15.4%
4Q2015 = 74.8% / 9.1%
1Q2016 = 75.5% /16.9%
 
Huge improvement in NPM to 16.9% - impressive !
 
Taiwan Revenue (SGD million)
1Q2014 =  2.418   (= 11% of FY2014 Revenue)
2Q2014 =   4.157      (= 18% of FY2014 Revenue)
3Q2014 =   4.940      (= 22% of FY2014 Revenue)
4Q2014 = 11.196      (= 49% of FY2014 Revenue)
1Q2015 = 4.465     (=  8% of FY2015 Revenue)
2Q2015 =  10.244      (=  18% of FY2015 Revenue)
3Q2015 =  14.125     (=  25% of FY2015 Revenue)
4Q2015 =  27.559     (=  49% of FY2015 Revenue)
1Q2016 =  20.221     (=  Y % of FY2016 Revenue)
 
Highest ever 1Q revenue and second highest ever quarterly revenue for Taiwan.
 
If Y = 25% => annualized FY 2016 Taiwan revenue = SGD 80.884 which is more than SGD 75 m (TWD1,800 m), BWL Taiwan’s FY2016 revenue target.
 
If Y < 25%, FY2016 revenue would be even higher………
 
China Revenue (SGD million)
1Q2014 = 2.195
2Q2014 = 3.296
3Q2014 = 3.117
4Q2014 = 4.372
1Q2015 = 3.088
2Q2015 = 5.366
3Q2015 = 4.805
4Q2015 = 6.512
1Q2016 =10.566
 
1Q2016 China revenue is 242.2% higher than 1Q2015 and 62.3% higher than 4Q2015
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An excellent set of 1Q2016 results – better than my expectation. 
 
FY2016 looks on course to be a record-breaking year in many aspects, I reckon.
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