Acesian Partners guides for ‘significant improvement’ in profit for FY22

ACESIAN Partners said on Friday (Feb 3) that the group is expected to report a ”significant improvement in profit before tax” for the 12 months ended Dec 31, 2022, as compared to the previous year.

The Catalist-listed company said in a bourse filing that the expected rise in profit before tax was mainly attributable to an “increase in revenue recognised by the group due to, among others, improvement in business volume and pent-up demand”.

The group did not provide any figures on Friday to indicate the expected quantum that revenue or profit before tax for FY22 would increase by. For the financial year ended December 2021, Acesian Partners reported revenue of S$14.8 million and profit before tax of S$2.2 million.

The group said that it is still in the process of finalising its unaudited consolidated financial results for FY22 and will provide further details of its performance when it releases the results on or before Mar 1.

Acesian Partners shares closed unchanged at S$0.056 on Friday, before the announcement.