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Land Systems: Results For The Year Ended 31 December 2014

Details on how the business of the Sector is managed and its related performance are set out below. This information is given on a voluntary basis and from the perspective of the Sector management, as its disclosure is not required by law or regulation.

Land Systems
Lower profits due to higher allowances and impairments"

FINANCIAL HIGHLIGHTS for the year ended 31 December 2014

 

2014

2013

Growth%

Revenue ($m)

1,405

1,485

(5)

Earnings before interest and tax (EBIT) ($m)

38.7

90.5

(57)

Other income, net ($m)

13.0

19.4

(34)

Finance costs, net ($m)

(8.5)

(6.3)

(35)

Profit before tax (PBT) ($m)

56.2

111.8

(50)

Profit attributable to shareholders ($m)

50.3

91.2

(45)

Economic value added (EVA) ($m)

5.0

61.2

(92)


Land Systems FY2014 Audited Results 


We achieved lower sales due to lower project deliveries and continued weakness in China operations. Lower PBT in 2014 was due to higher allowances for inventory obsolescence, asset impairments and higher research and development expenses. In 2015, we will continue to innovate new solutions, pursue key defence programmes and work with partners to secure automotive drive solutions’ contracts from commercial and defence customers.” Sew Chee Jhuen, President

N.B.: All currencies are in Singapore dollars.

 

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