Group Income Statements

In S$ billion

(From 2021 to 2025)
For year ended 31 March	2021	2022	2023	2024	2025
Revenue	110.9	134.9	167.4	156.8	169.4
Cost of sales	(80.5)	(104.2)	(130.4)	(116.7)	(126.6)
Gross profit	30.4	30.7	37.0	40.1	42.8
Other income, net	56.4	5.2	(10.6)	6.8	20.6
Expenses:
Selling & Distribution	(2.4)	(2.7)	(3.4)	(3.4)	(3.4)
Administrative	(11.3)	(9.3)	(10.4)	(11.2)	(12.9)
Finance	(4.7)	(4.8)	(6.2)	(7.7)	(8.0)
Other expenses	(18.8)	(10.9)	(14.1)	(18.8)	(15.6)
Profit/(Loss) before share of results of associates and joint ventures	49.6	8.2	(7.7)	5.8	23.5
Share of results of associates	5.9	6.7	4.7	2.8	5.2
Share of results of joint ventures	1.0	3.0	2.8	2.3	3.6
Profit/(Loss) before income tax	56.5	17.9	(0.2)	10.9	32.3
Tax expense	(2.3)	(4.2)	(3.3)	(2.0)	(3.5)
Profit/(Loss) for the year	54.2	13.7	(3.5)	8.9	28.8
(Profit)/Loss attributable to non-controlling interests	2.3	(3.1)	(3.8)	(3.5)	(5.3)
Group net profit/(loss)	56.5	10.6	(7.3)	5.4	23.5

Additional Information:

For year ended 31 March	2021	2022	2023	2024	2025
Group net profit/(loss), including unrealised mark to market losses/(gains) of sub-20% investments¹	56.5	10.6	(7.3)	5.4	23.5
Unrealised mark to market losses/(gains) of sub-20% investments	(45.5)	10.3	22.0	3.4	(6.3)
Group net profit, excluding unrealised mark to market losses/(gains) of sub-20% investments	11.0	20.9	14.7	8.8	17.2

¹From the financial year ended 31 March 2019, IFRS 9 requires unrealised mark to market gains or losses of sub-20% investments to be included in the Group net profit.

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