Vicom Q1 net profit increases 2.3% to S$7m

VICOM Limited, the vehicle inspection and testing unit of ComfortDelGro, posted a 2.3 per cent increase in net profit for the first quarter to S$7 million, it said on Wednesday evening.

Earnings per share crept up to 7.9 Singapore cents from 7.73 Singapore cents in the preceding year.

For the three months ended March 31, revenue edged up 1.6 per cent to S$24.5 million from the preceding year.

The rise in revenue was due to higher business volumes, it said.

Net asset value per share crept up to 175.27 Singapore cents as at March 31, from 167.34 Singapore cents three months ago.

Vicom shares finished S$0.03 or 0.5 per cent lower at S$6.07 on Wednesday before the announcement.