Vicom's Q2 earnings fall on more vehicle deregistrations

Singapore

VEHICLE inspection and testing services provider Vicom has posted a 12.6 per cent drop in net profit to S$6.62 million for the second quarter as more vehicles were deregistered. Revenue for the three months ended June 30 fell to S$25.4 million, down 6.9 per cent from S$27.3 million a year ago due to lower business volumes, it said in a Singapore Exchange filing on Wednesday.

Operating costs fell 2.5 per cent to S$17.9 million, while operating profit shrank 16 per cent to S$7.5 million.