48
Baker Technology LimitedAnnual Report 2014
5-YEAR
PERFORMANCEREVIEW
2014
2013
2012
2011
2010
$’000 $’000 $’000 $’000 $’000
Revenue
86,272
83,299
98,244
81,147
48,427
Gross profit
22,706
23,768
25,084
23,510
24,931
Pre-taxprofit
16,326
26,080
84,799
10,630
30,389
Pre-taxprofit*
16,326
17,818
15,081
10,877
14,177
Net profit
13,517
22,373
81,591
7,631
27,401
Shareholders’ equity
216,901
239,843 268,143 171,791 187,133
Loans andborrowings
-
-
3,678
-
99
Cash and short-termdeposits
168,685
205,871 173,902 169,277 214,130
Earnings per share (Cents)
1.5
2.7
11.5
1.1
4.1
DilutedEarnings per share (Cents)
1.4
2.4
8.3
0.8
2.8
* -Excludingshareof results from joint ventures /associatesandgains fromdisposal of subsidiary /associates.
2010
Theglobal financial crisis threatenedmany companies but theGroupmanaged toweather through. Revenue saw a
decline from$79.2million to$48.4millionasa resultof slowerorder intake in2009withgrossprofitdeclining to$24.9
million. Over the course of 2010, activities in the oil and gas industry started to gainmomentum and theGroup’s
order bookbegan to strengthenagain. ByDecember 2010, theorder bookhad recovered toa steadyUS$33million.
During the year, theGroup sold its stake in PPL Holdings Pte Ltd (“PPLH”) an investment holding company which
owns a 15% stake in PPL Shipyard Pte Ltd, for US$116.25million ($150.5million). However, due to the ensuing legal
suit between PPLH and SembcorpMarine Ltd (“SCM”) over the disposal, the gain on disposal of $58.2millionwas
deferreduntil the final rulingwasmade in2012.
Asa resultof lower contributions fromSeaDeepanda lower shareof results fromPPLShipyardPteLtd,pre-taxprofit
decreased from$96.1million to$30.4million in2010.However, following thecompletionof thedisposal of PPLH, the
Group’s cashposition improved significantly from$76.4million to $214.1million.
