Aspial's Q4 profit dives to $9.33m

ASPIAL Corp's net profit for the fourth quarter ended Dec 31, 2013, halved to $9.33 million owing to increased borrowings and the issuance of multi-currency medium term notes.

Turnover fell 13 per cent year on year to $117.17 million, while rental income rose to $2.18 million from just $110,000 a year earlier.

Despite a poor quarter, Aspial posted record revenue of $515.26 million for the full year. Net profit rose 23 per cent to $67.55 million.