CONSOLIDATED FINANCIAL PERFORMANCE ($’000)
FY2016 FY2015 Change %
Continuing Operations
Revenue
33,940
28,390
19.5
Cost of sales
(22,983)
(21,509)
6.9
Gross profit
10,957
6,881
59.2
Administrative expenses
(4,595)
(4,033)
13.9
Profit before income tax
7,854
3,868
103.1
Income tax expenses
(1,476)
(146)
911.0
Profit for the year from continuing operations
6,378
3,722
71.4
Discontinued Operations
(Loss)/Profit for the year from discontinued operations
(153)
2,828
n.m.
Profit for the year from both continuing and discontinued
operations
6,225
6,550
(5.0)
n.m.: not meaningful
For the financial year ended 30 June 2016 (“FY2016”), the Group reported a profit of $6.2 million as compared to
$6.6 million for FY2015. The marginal decrease in profit for the comparative periods was a result of no further gains
being registered in the discontinued operations of the US subsidiaries, and foreign exchange rates contributing to
higher administration expenses. Nonetheless, the profit from continuing operations had increased in the comparative
periods due to the higher revenue and improved gross profit margins across the business segments. Overall, the
Group registered a positive profit for the comparative periods.
REVENUE BY BUSINESS SEGMENTS ($’000)
12,000
10,000
8,000
6,000
4,000
2,000
8,965
6,656
13,844
13,704
0
Burn-In Services
Engineering
Services
7,890
11,271
FY2016
FY2015
Burn-In Board
Manufacturing and
PCBA Services
14,000
16,000
Burn-in Services which contributed 26.4% of Group’s revenue in FY2016 (FY2015: 23.4%) reported revenue for the
year of $9.0 million, an increase of $2.3 million or 34.7%. The increase is contributed by the higher sales from key
customers.
FINANCIAL
REVIEW
18
AVI-TECH ELECTRONICS LIMITED
ANNUAL REPORT 2016
