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Financial Performance

Financial Years Ended 31 December 2018,2019,2020,2021 and and the Financial Period ended 30 September 2022

Financial Performance
FY2018 FY2019 FY2020 FY2021 9M2022(3)
For the Year/Period (S$ Million)
Total Net revenue(6) 60.45 65.91 86.64 113.91 88.48
Profit before tax 12.35 11.07 25.39 35.82 13.65(4)
Profit after tax 10.69 9.31 20.96 30.41 9.58(4)
Net profit attributable to owners of the Company 10.91 9.52 21.15 30.63 5.13(4)
Net Revenue(6)
Recurring net revenue 49.15 53.65 61.17 79.38 62.28
Non-recurring net revenue 11.30 12.26 25.47 34.53 26.20
Total net revenue(6) 60.45 65.91 86.64 113.91 88.48
Per Share
Earnings per share (cents) 4.10 3.55 7.80 11.10 3.53(4)
Dividend per share (cents) 3.15 3.15 3.30 4.80 3.40
Financial Ratios
Profit before tax margin (based on net revenue) 20.7% 17.0% 29.6% 31.6% 15.4%(4)
Return on equity (per annum)(1) 13.1% 10.9% 21.8% 25.8% 5.9%(4)/(5)


Financial Position and Operating Cashflows
FY2018 FY2019(2) FY2020 FY2021 9M2022
At Year/Period End (S$ Million)
Non-current assets 30.33 52.46 59.68 70.21 115.48
Net current assets 56.62 49.86 58.35 68.03 124.30
Non-current liabilities (1.60) (12.68) (14.63) (10.61) (9.28)
Net assets 85.35 89.64 103.40 127.63 230.50
Shareholders' equity 85.56 90.06 104.11 128.65 223.27
Net cash from operating activities 17.62 19.38 41.56 46.53 4.92

Notes:

(1) Return on equity is calculated based on the average of the month-end shareholders' equity for the respective year or period.
(2) Adoption of SFRS(I) 16 Leases with effect from 1 January 2019.
(3) Includes the new banking operation from end of March 2022.
(4) Excluding impairment loss of S$5.2 million related to India Business recognised in Jun 2022.
(5) The Group conducted a S$103 million share placement exercise in January 2022.
(6) Including net interest revenue.