Jason Marine profit up as operations revamp pays off

MARINE electronics systems integrator Jason Marine Group's realignment of its operations has paid off as it ended its financial full year with a surge in revenue and earnings.

Its share price soared 7.2 cents, or 40 per cent, yesterday - fuelled probably by the better results and accompanying higher proposed dividend - to end trading at 25 cents.

For the 12 months ended March 31 (FY2014), the group posted net profit of $2.8 million, more than five times the $517,000 in the preceding year. Earnings per share came to 2.62 cents, against 0.49 cent previously. Jason Marine proposed a total dividend of one cent per share for FY2014, comprising a first and final dividend of 0.2 cent (unchanged from FY2013) and a special dividend of 0.8 cent per share.