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ISSA and Ship Supply News

Sinwa reports strong

results for 2015

S
hip supplier and logistics company Sinwa says a growth in

customer base and an increased sales volume from existing
customers helped push up its revenue by nearly 8% to

S$166.5million in 2015.
Announcing its results for the inancial year ending 31st December

2015, it also reported a year-on-year gross proit increase of 6.2% to
S$39.5m, in line with revenue growth, though the gross proit margin for the

same 12 months was slightly lower at 23.7% from 24.1%. This was attributed

to tougher competition and weakened market conditions. Net proit was up
5% to S$9.6m.

“During a challenging year and the subsequent global ramiications of a
deteriorating oil price, we have realised a noteworthy set of results for the

2015 inancial period,” said Bruce Rann, Group CEO, Sinwa (pictured).
“We have relied on our strong business model and despite the

continued pressure on the oil price, operationally the business
continues to perform well. We will continue to enhance our

eficiencies with a view to provide our clients with increased
service levels and savings.”
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Issue 68 2016 | The Ship Supplier | 45