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800 Super's Q4 bottom line bolstered by revenue growth, tax credits

Thursday, August 25, 2016 - 18:06

800 Super Holdings reported a fourth-quarter net profit of S$4.28 million, up over 69 per cent year on year, in line with higher revenue and a higher income tax credit.

Revenue for the quarter edged up 3.5 per cent to S$39.83 million while earnings per share clocked 2.39 cents, up from 1.41 cents a year ago.

A final cash dividend of 2.5 cents per share has been proposed.

For the full year ended June 30, net profit was 4.8 per cent lower at S$16.73 million even as revenue rose 11.5 per cent to S$156.44 million.

The increase in revenue was mainly contributed by projects that were re-awarded with revised pricing and new contracts awarded.

The group said: "The industry - (that is) the provision of waste management, cleaning and conservancy and horticultural services - is highly competitive. The group is competing on the basis of the quality of services provided, timeliness of service delivery and pricing as well as past track record. As a comprehensive environmental solutions provider, the group will leverage on this to better compete for new projects."

The group is expected to remain profitable for the next financial reporting period, it added.

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