ISOteam posts 67% drop in Q4 profit

ISOTEAM reported a 67 per cent drop in net profit to S$1.4 million for the fourth quarter ended June from S$4.1 million a year ago.

Revenue came in lower by 27 per cent to S$22 million with revenue contribution across its business segments - repairs and redecoration, additional and alteration, coating and painting and others - all posting declines.

Accordingly, earnings per share fell to 0.48 Singapore cent versus 1.44 Singapore cents a year ago.

For the full year, the company that is involved in building maintenance and estate upgrading in Singapore, posted a 30 per cent drop in net profit to S$6.4 million on the back of a 12 per cent dip in revenue to S$83 million.

It has recommended a final dividend of 0.65 Singapore cent per share compared with 0.75 Singapore cent in FY2016.