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GP Batteries narrows Q4 net losses to S$4.02m from S$10.84m

Monday, May 22, 2017 - 18:49

GP Batteries International Ltd narrowed its net losses for the fourth quarter ended March 31 to S$4.02 million, from S$10.84 million a year ago on the back of higher revenue and lower operating expenses.

This brings its full-year net profit to S$3.49 million, a 45.5 per cent growth from a year ago.

The group declared a final dividend of 1.5 cents, higher than one cent a year ago. Its interim dividend of one cent, however, was lower than the three cents interim dividend paid out in the year-ago period.

GP Batteries noted that global demands for primary batteries and Nickel Metal Hydride rechargeable batteries are expected to be "slow growing" while price competition is expected to be keen. The increase in commodity prices will also have an impact on the group's manufacturing costs.

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"The group will continue to invest further in the automation of production equipment to improve productivity and quality and to consolidate the smaller factories into larger ones to benefit from economy of scale and to raise the group's competitiveness," it noted. "In addition, the group will focus on brand-building and distribution development in key markets. Additional production capacity from the new facilities in Malaysia and Vietnam is expected to start bringing in additional revenue to the group."

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