Aztech's Q4 profit down nearly 91%

AZTECH Group saw its net profit for the three months ended Dec 31, 2014, slump nearly 91 per cent year on year to S$280,000 on the back of higher expenses and lower revenue.

Revenue slipped 7 per cent to S$77.34 million as higher sales from its electronics segment were offset by lower revenue from its material supply and marine logistics segment. Earnings per share came in at 0.06 cent, down from 0.63 cent a year ago.

For the full year, net profit clocked S$5.77 million, or 10.7 per cent lower year on year, even as revenue increased 36.6 per cent to S$329.4 million.

Aztech said: "With the new business acquired in FY2014, the group is opening more outlets to expand its F&B Retail business in FY2015 and looks towards offering more marine and shipyard related services."

It added: "The group will also continue to seek out new business opportunities within its various business segments, while remaining its cautious posture in managing costs, working capital and driving product innovation and productivity."

The group has proposed a final dividend of 0.5 Singapore cent per share, payable May 20, 2015.