Cogent's Q4 profit falls 33% in absence of one-off gain

COGENT Holdings on Friday announced a net profit of S$7.3 million for the fourth quarter ended Dec 31, 2015, down 33 per cent from the year-ago period. This was largely due to the absence of a one-off gain from a property disposal which contributed S$5.9 million in Q4 FY2014.

Revenue for the quarter went up 9 per cent to S$33.3 million.

For the full year, net profit climbed 3 per cent to S$25.5 million. Revenue rose 9 per cent to S$129.2 million. This was largely driven by the contribution of warehousing logistics management services from its newly completed integrated logistics hub, improved performance of its container depot services and strong demand for its automotive logistics management services.

Cogent has proposed a first and final cash dividend of 1.88 Singapore cents per share for FY2015. This is lower than FY2014's final dividend of 2.58 Singapore cents per share (excluding special dividend of 1.18 Singapore cents) because of the expected near-term financial commitment for the Jurong Island chemical logistics facility project, the group said.