Overall, the company’s market share of Singapore’s electricity generation of about 27% in FY07/08 is about the same levels at the previous FY. For the retail business, we stayed the market leader in the contestable market with FY07/08 registering close to 29% market share.  

Financial Performance
The information provided below is a direct extract from the Annual Report 2007/2008:

Operating revenue/earnings
The Group’s operating revenue grew by S$169 million, a 6% increase over FY06/07 to S$2.8 billion, contributed mainly by its new PetroSeraya Pte Ltd’s business which started physical trading operations in November 2007. Amid strong competition in the market, PowerSeraya’s generation business maintained its market position and sold 10,186 GWh of electricity in FY07/08. The retail business sold 6,903 GWh of electricity in FY07/08, a growth of 4% over the previous year. This was achieved through gaining a stronger market position with growth in its market share and customer base.

Profitability
For the year in review, NPAT for the Group grew by 30% to S$218 million - a result brought about through better yield management, leading to lower fuel consumption costs gained from better plant mix efficiencies and improved utilisation of the asset portfolio. At the same time, the company is able to effectively execute its trading strategy to reduce the cost of meeting its electricity contract commitments.

Earnings per share
Basic earnings per share* rose 30% to 24.7 cents in FY07/08 as compared to 19.0 cents in FY06/07. This increase is in line with the higher profit after tax for the Group.

(* Earnings per share is computed by dividing net profit after tax attributable to shareholder for the financial year by the number of ordinary shares outstanding for the financial year)

Return on equity
The Return on Equity** (ROE) grew to 19.1% in FY07/08. This represented an increase of 19% over the previous FY’s 16.1% ROE. The strong performance was driven mainly from a strong net profit after tax for the year and the efficient capital structure.

(** ROE computed based on average opening and closing total shareholder’s equity)

Details of the financial performance of the company are covered comprehensively in the Annual Report 2007/2008.