Enviro-Hub’s FY2010 revenue increased significantly
- The Group’s revenue increased significantly by S$31.7 million or 68% from S$46.5 million in FY 2009 to S$78.2 million in FY 2010.This was primarily contributed by the increase in the sales of copper refining products, platinum group of metals (“PGM”) such as gold and platinum recovered by our PGM refinery plant and revenues generated from construction businesses.
- Profit after tax for our Group surged in FY 2010. The Group registered a profit after tax of S$1.2 million in FY 2010 as compared to a loss after tax of S$25.5 million in FY 2009.
- The Group’s other income increased by S$3.6 million in FY 2010 as compared to FY 2009 which contributed to our net profit after tax. The increase was mainly due to the sale of equipment’s and gain on liquidation of jointly controlled entity during FY 2010.
- The Group was able to maintain constant for most of the cost components despite the growth in sales for the year.
- Other expenses of the Group decreased significantly by S$26.3 million in FY 2010 as compared to FY 2009 which has further improved the profit after tax for the financial year under review. Other expenses of FY 2009 were mainly contributed by an impairment loss of goodwill, hedging loss from refined copper inventory and trade receivables. There was no such impairment and losses in FY 2010.