MTQ Corporation Limited

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Unaudited Financial Statements And Dividend Announcement For The Quarter Ended 30 June 2017

Financials Archive

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STATEMENT OF COMPREHENSIVE INCOME

Income Statement

STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 2017

Balance Sheet

REVIEW OF GROUP PERFORMANCE

3 months ended 30 June 2017 ("1QFY2018") vs 3 months ended 30 June 2016 ("1QFY2017")

The Group reported S$30.5 million revenue for 1QFY2018, a decrease of 12% quarter-on-quarter (“qoq”) due to lower activity in the Neptune segment. Coupled with the continued pricing pressure, gross profit reduced by 30% to S$5.5 million.

Continuing cost rationalization measures have led to a reduction in operating and staff costs by 15% as compared to 1QFY2017. Finance costs also declined by 26% as the Group repaid S$17.0 million of borrowings in 1QFY2017.

Overall, the Group reported a net loss attributable to shareholders of S$3.0 million for 1QFY2018.

Commentary

The road to recovery remains a challenging one and the Group remains focused on broadening its markets in this competitive environment as well as enhancing efficiency and utilization.

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