Baker TechnologyLimitedAnnual Report 2014
10
CHAIRMAN’S
MESSAGE
2014HASBEENAYEAR
OFDRIVINGFORWARD,
EMBRACINGGROWTHAND
REACHINGFORTHEFUTURE
FROMASTABLEHISTORYOF
GOODPERFORMANCE.
LimHoSeng,
Chairman
Baker TechnologyLimited
DEARSHAREHOLDERS
2014 has been a year of driving forward, embracing
growth and reaching for the future from a stable
history of good performance. As we continue to
strive to establish ourselves with the development of
our newproduct line throughBaker Engineering Pte.
Ltd. we must build on our experience and previous
successes to gain significant momentum to ride out
the oil and gas cycle.
FY2014 FINANCIAL PERFORMANCE
Revenue for FY2014 increased by 4% over FY2013.
The correspondingNet Profit, as a result of increased
expenses and investments in the Group subsidiaries
and after adjusting for an investment gain of
$8.8million in FY2013, showed a slight decrease.
The Group’s financial position remains strong with
$168.7 million in cash and no borrowings as at
31December 2014.
The last two years saw the Group
paying out record special dividends
of 8.5 cents for FY2012 (1.5 cent
for ordinary dividend) and 4.0
cents for FY2013 (1.0 cent for
ordinary dividend). Given the
volatile condition of the market
with oil prices at a six year low
coupled with potential attractive
acquisition opportunities and
the development of Baker
Engineering, the Board of
Directors is recommending a
first and final tax exempt (one-
tier) ordinary dividendof 1.0 cent
per share.
