SAILING THE SEAS OF SUCCESS - Swissco Holdings Limited
SAILING THE SEAS OF SUCCESS - Swissco Holdings Limited
SAILING THE SEAS OF SUCCESS - Swissco Holdings Limited
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NOTES TO <strong>THE</strong> FINANCIAL STATEMENTS<br />
FOR <strong>THE</strong> FINANCIAL YEAR ENDED 31 DECEMBER 2004<br />
29. Segment information (continued)<br />
Primary reporting format - business segments (continued)<br />
Financial year ended<br />
31 December 2003<br />
Trading<br />
Chartering<br />
Ship repair and<br />
related services<br />
of marine<br />
equipment Elimination Group<br />
$’000 $’000 $’000 $’000 $’000<br />
Sales: 8,492 2,545 1,352 (260) 12,129<br />
Segment result 3,885 279 (127) 4,037<br />
Profit from operations 4,037<br />
Finance costs (266)<br />
Share of associate results 600<br />
Profit before tax 4,371<br />
Income tax expense (280)<br />
Net profit 4,091<br />
Segment assets 23,150 2,870 305 (1,227) 25,098<br />
Associated companies 2,174<br />
Consolidated total assets 27,272<br />
Segment liabilities 11,841 1,781 385 (1,227) 12,780<br />
Unallocated liabilities 1,861<br />
Consolidated total<br />
liabilities 14,641<br />
Other segment items<br />
Capital expenditure 8,326 285 – 8,611<br />
Depreciation 996 125 8 1,129<br />
Secondary reporting format - geographical segments<br />
No geographical segment information is presented as all of the Group’s assets are located in Singapore, which is<br />
considered as one geographical location with similar risks and returns.<br />
30. Authorisation of financial statements<br />
These financial statements were authorised for issue in accordance with a resolution of the Board of directors of<br />
<strong>Swissco</strong> International <strong>Limited</strong> on 28 March 2005.<br />
Auditors’ report – Page 24.<br />
ANNUAL REPORT 2004_51
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