LHT Holdings

[BlueKelah]

FY 2020

The Group’s revenue for the financial year ended 31 December 2020 (FY2020) decreased
by 11.8% or $4.49 million to $33.63 million as compared to $38.12 million for the financial
year ended 31 December 2019 (FY2019).

Gross profit increased by 13.96% or $1.48 million from $10.60 million in FY2019 to $12.08
million in FY2020. The higher gross profit resulted from a better product mix despite the
lower volume and revenue.

The higher gross margin achieved during this pandemic year was mainly due to a few
reasons – the Group being able to operate during the Circuit Breaker period, acceptance by
customers of a better product mix offering with higher production efficiency, thus yielding
higher gross margins and the provision of upcycling supplies and pallets to essential
services sectors during the critical period in the first half of the year. As restrictions are
being eased with the arrival of vaccines, management is cautiously optimistic that the
economies of Singapore and its trading partners will gradually normalise in the months
ahead.

The Group’s net profit before income tax increased by 29.1% or $0.82 million to $3.64
million in FY2020 from $2.82 million in FY2019 mainly due to better gross profits, receipt of
Covid-19 government grants and tighter control over administrative expenses.

Cash and cash equivalents at end of financial year $24 milos, up 3milos from FY2019,
NAV $1.01
Dividend amount per share: 3.0 cents per ordinary share, similar to FY2019,

Quite consistent company... : )

not a great yield at current share price though.