14
Mencast Holdings Ltd
| Annual Report 2014
Revenue and Gross Profit
As a result of the success of our Triple Play strategy, 2014 was another
good year for Mencast, our Group reported revenue of $130.6 million for
the year ended 31 December 2014, a 32% jump from $99.2 million for the
year ended 31 December 2013. The increase in revenue was driven by
growth from all three segments of our business especially in the Offshore
& Engineering segment and Energy Services segment.
Revenue from Offshore & Engineering segment increased by $23.9
million or 49% as we continue to broaden our customer base with the
award of multiple projects in FY2014 from both new and existing
customers and revenue contributions
of $18.8 million from the two newly
acquired subsidiaries. In FY2013,
Chinyee and S &W only contributed
one month operations which
accounted for $860,000 and $1.1
million of revenue respectively.
Revenue from Energy Services
grew by $5.6 million or 64% after
securing long-term contracts with
major Oil & Gas customers and
new services provided to refineries.
Gross profit margin slightly
decreased from 31% in FY2013 to
29% in FY2014 mainly due to lower
margin for Offshore & Engineering
segment due to materials and
subcontractors’ cost.
FINANCIAL
REVIEW
32%
REVENUE INCREASED
Gross profit margin slightly
decreased from 31% in FY13 to
29% in FY14
The Group’s
net profit
+14%
+13%
+49%
The Group’s
administrative expenses
Revenue from
Energy Services
Revenue from Offshore &
Engineering segment
+64%
