PROFIT/(LOSS) FOR THE YEAR
FY 2015 FY 2014 Change %
Profit/(Loss) for the year from continuing operations
3,722
(539)
n.m.
Profit/(Loss) for the year from discontinued operations
2,828
(9,393)
n.m.
Profit/(Loss) for the year from continuing and discontinued operations
6,550
(9,932)
n.m.
n.m.: not meaningful
The Group reported a profit of $6.6 million for FY 2015 as compared to a loss of $9.9 million for FY 2014. The
transition from loss-making to profitability was attributed to the profits registered in the continuing operations
where all three segments had recorded an increase in revenue as well as higher gross profit margin. This is in
addition to the gains registered in the discontinued operations of the US subsidiaries.
LIQUIDITY AND CAPITAL RESOURCES ($’000)
FY2015 FY 2014 Change %
Cash flow from:
Operating activities
4,713
(37)
n.m.
Investing activities
(11,971)
3,249
n.m.
Financing activities
(1,682)
(658)
155.6
Net change in cash and cash equivalents
(9,032)
2,712
n.m.
Cash and cash equivalents at end of year
12,416
21,448
(42.1)
n.m.: not meaningful
The Group generated net cash from operating activities of $4.7 million for the financial year ended 30 June 2015.
Net cash used in investing activities was $12.0 million, which is mainly due to placement of fixed deposits with a
tenor of over 3 months.
Net cash used in financing activities was $1.7 million, primarily due to dividend payment and repayment of bank
loan.
Cash and cash equivalents decreased by $9.0 million in FY 2015. Included in cash and cash equivalents are cash
and bank balances.
19
AVI-TECH ELECTRONICS LIMITED
| ANNUAL REPORT 2015
FINANCIAL
REVIEW
