Highlights For FY2015 And FY2016
Pollux Properties Ltd achieved revenue growth of 27.4% from S$37.88 million in the financial year ended 31 March 2015 (“FY2015”) to S$48.27 million in FY2016, we also recorded a net attributable profit of S$1.66 million in FY2016 despite the larger macro-economic headwinds. Our revenue mix was robust as we recognised project revenue from our residential projects, namely Metro Loft, Garden Park Residences, Berkeley Residences and Mayfair Residences.
In respect of our investment properties, we grew our revenue more than 478% from S$0.93 million in FY2015 to S$5.38 million in FY2016. The bulk of the revenue was generated from our Louis Kienne Serviced Residences, which accounted for S$5.21 million. In addition, we enjoyed stable rental income throughout the financial year from our two retail investment properties located along Balestier Road. Although we had made repayments of certain loans during FY2016, our balance sheet position remained healthy with cash and cash equivalents standing at S$9.94 million as at the end of FY2016 as compared to S$16.85 million as at the end of FY2015. Total shareholders’ equity as at the end of FY2016 stood at S$50.78 million, while earnings per share was 0.27 cents, and net asset value per share was 8.10 cents.
GROWING OUR POLLUX PROPERTIES FAMILY
On 7 September 2015, we added to our family through the subscription of 300,100 new ordinary shares in the capital of Stirling Fort Capital Pte. Ltd. (“Stirling Fort Capital”, formerly known as Stirling Fort Asia Pte. Ltd.), a fund management company. This gives us an effective 50.01% stake in Stirling Fort Capital, and marks the start of a strategic and long-term alliance.
Through the new addition, we believe that we will be able to further enhance our shareholders’ value by way of recurring revenue streams from management fees and performance fees of the investment fund products under Stirling Fort Capital. This move also represents our efforts to expand our fee-based business moving forward.
|28/3/2013||Business Times: Pavilion Square Retail Units Snapped Up|
|26/2/2013||Metroloft’s Unique Loft Concept Units Fully Sold|
|28/11/2011||Diamond Eye Award For Quality Commitment and Excellence|
|10/7/2016||Pollux Properties Annual Report 2016|
|7/7/2015||Pollux Properties Annual Report 2015|
|1/8/2014||Pollux Properties Annual Report 2014|
|2/9/2013||Pollux Properties Annual Report 2013|
|9/7/2012||Pollux Properties Annual Report 2012|
|31/12/2011||Pollux Properties Annual Report 2011|
|31/12/2009||Pollux Properties Annual Report 2009/2010|
|31/12/2008||Shining Corporation Annual Report 2008|