Megachem Limited Annual Report 2015 30 Operating and Financial Review H2 2015 S$‘000 H1 2015 S$’000 H2 2014 S$’000 S$’000 S$’000 ASEAN 36,183 38,843 37,725 (2,660) (6.8) (1,542) (4.1) North Asia 7,882 6,615 6,818 1,267 19.2 1,064 15.6 Europe 3,083 3,438 3,906 (355) (10.3) (823) (21.1) America 755 2,856 6,328 (2,101) (73.6) (5,573) (88.1) South Asia 2,380 2,363 2,443 17 0.7 (63) (2.6) Middle East 1,696 2,194 1,720 (498) (22.7) (24) (1.4) Australia 967 1,231 1,354 (264) (21.4) (387) (28.6) Africa 43 31 - 12 38.7 43 NM Total 52,989 57,571 60,294 (4,582) (8.0) (7,305) (12.1) Variance Fav(Unfav) H2 2015 VS H1 2015 % Variance Fav(Unfav) H2 2015 VS H2 2014 % 1. PROFITABILITY ANALYSIS Geographic Segment Sales Analysis 1.1 SALES S$’000 % S$’000 % S$’000 % ASEAN 75,026 67.8 76,950 66.4 (1,924) (2.5) North Asia 14,497 13.1 11,794 10.2 2,703 22.9 Europe 3,611 3.3 9,898 8.5 (6,287) (63.5) America 6,521 5.9 6,586 5.7 (65) (1.0) South Asia 4,743 4.3 4,418 3.8 325 7.4 Middle East 3,890 3.5 3,442 3.0 448 13.0 Australia 2,198 2.0 2,833 2.4 (635) (22.4) Africa 74 0.1 3 0 71 NM Total 110,560 100.0 115,924 100.0 (5,364) (4.6) Variance Fav(Unfav) FY2015 FY2014 * NM : not meaningful H2 2015 vs H1 2015 Overall sales in the second half of 2015 (“H2 2015”) dipped by S$4.6 million or 8.0% as compared to the first half of 2015 (“H1 2015”) as most markets contracted in H2 2015. The biggest fall was mainly contributed by reduced sales to America, mainly South America, of S$2.1 million or 73.6% as the country risk associated with the region had increased. This was followed by sales to ASEAN which contracted by S$2.7 million or 6.8%. Sales from other markets such as Middle East, Australia and Europe fell by a smaller magnitude. On the other hand, North Asia recorded growth in sales of S$1.3 million or 19.2% in H2 2015 vs-à-vis H1 2015, mainly from higher exports.
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