Summary of the Key Facts
- Report Date and Financial Year: The report pertains to the audited financial statements for the fiscal year ending 30 June 2024 and is dated 1 October 2024.
- Comparison of Financial Statements: There is a difference between the unaudited financial statements (announced on 28 August 2024) and the audited financial statements for FY2024.
- Adjustment in Financial Statements:
- Profit from Discontinued Operations: The audited financial statements show an increase of SGD 139,000 in profit from discontinued operations compared to the unaudited financial statements, resulting in a profit attributable to owners of SGD 13,477,000 (up from SGD 13,338,000 in the unaudited version).
- Reason for Adjustment: This increase is attributed to the finalization of the refund receivable from the management corporation handling the disposed property, which was previously recorded based on an estimate.
Special Activities or Actions
- Finalization of Refund: The company finalized the refund receivable from the management corporation responsible for a disposed property, which contributed to the increased profit in the audited financial statements.
Dividend Information
- There is no mention of dividends in the provided report.
Investor Recommendations
- For Current Shareholders: The increase in profit due to finalized refunds indicates improved financial accuracy. Investors currently holding this stock might consider retaining their investment, as the company’s recent adjustment reflects careful financial management.
- For Potential Investors: While the report indicates a positive adjustment in the audited figures, potential investors should exercise caution and conduct further analysis on the company’s overall performance before investing, as this report only highlights a small adjustment.
Disclaimer
This recommendation is based solely on the information contained within the provided financial report. Investors should seek further professional advice and consider the broader market conditions before making any investment decisions.
Key Points for Investor Actions
- Review Financial Changes: Current shareholders should review the differences between unaudited and audited statements to understand the adjustments and their impact on overall profitability.
- Monitor Financial Reporting: Investors, both current and potential, should monitor how the company manages future financial reporting, as adjustments indicate management’s focus on refining financial accuracy.
Special Notes for Investors
- The positive adjustment was related to the finalization of a refund, indicating that the company is proactive in managing its financial claims. However, the report does not provide detailed insight into future profitability strategies, so further investigation into the company’s broader operations is recommended.
