DeClout Limited reported unaudited group earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenue of SGD 71,304,000 against SGD 63,138,000 a year ago. Profit before tax was SGD 1,874,000 against before tax of SGD 3,416,000 a year ago. Profit attributable to owners of the company was SGD 249,000 or 0.04 cents per basic and diluted share against loss attributable to owners of the company of SGD 2,662,000 or 0.41 cents per basic and diluted share a year ago. Net cash flows generated from operating activities were SGD 733,000 compared to SGD 2,833,000 a year ago, this was mainly due to an operating cash inflow (before changes in working capital) of SGD 5.5 million, decreases in inventories, contract work-in-progress and finance lease receivables of SGD 7.2 million, an increase in other liabilities of SGD 5.2 million, partially offset by an increase in trade and other receivables of SGD 14.6 million arising from higher billings driven by the revenue growth in first quarter 2018, an increase in other assets of SGD 1.9 million, a decrease in trade and other payables of SGD 0.6 million and taxes paid of SGD 0.1 million. Purchase of property, plant and equipment was SGD 5,607,000 compared to SGD 19,382,000 a year ago. Additions to intangible assets were SGD 284,000.

The Board of Directors expects the Group to reduce its losses over the course of 2018 and return to profitability in 2018.

For the quarter, the company reported plant and equipment written off of SGD 4,000.