BUILDING ON OUR EXTENSIVE NETWORK
ANNUAL REPORT 2015
12
F
or the financial year ended
30 April 2015, the Group’s
total turnover was 0.7% higher
than last year at S$292.5
million. Revenue derived from
the distribution of tyres and wheels
accounted for 8% of the Group’s
total revenue and manufacturing
of wheels accounted for 13%. The
Group has also performed well in
the South East Asia market, with
approximately 83% of total sales
coming from the region.
Demand for major brand tyres that
the Group distributes namely,
Falken,
Dunlop,
Continental,
continues to remain strong. Our SSW
proprietary brand wheels continues
to enjoy strong appeal in South
East Asia, particularly in Thailand
where revenue increased by 29% to
reach $17.9 milllion. This was due to
higher price per wheel sold and low
production costs plus optimisation
of product mix.
Gross profit for the Group was lower
at $64.5 million, down 2.7% as
compared to $66.2 million in FY2014
due to pricing pressure arising from
market competition in some markets.
Gross profit margin for FY2015 was
slightly lower at 22.1% compared to
22.8% last year. As a result, net profit
for FY2015 decreased to $1.7 million.
Operating expenses decreased
by 1.9% to $62.0 million in FY2015
versus $63.2 million in FY2014 after
excluding the one-off gain from
the disposal of Balestier Tower
FINANCIAL AND
OPERATIONS REVIEW
January 2015 - Showcasing Stamford Tyres’ range of tyres and
wheels at the Singapore Motor Show 2015
July 2015 - Visit to Stamford Tyres Headquarters by Top 40 Falken Dealers from India
