Boardroom's Q1 net profit doubles to S$1.6m

BOARDROOM Ltd posted a more than two-fold jump in net profit to S$1.60 million for the first quarter ended March 2015 from S$757,000 a year ago.

Revenue came in higher by 14 per cent to S$16.1 million, led by growth from the corporate secretarial, accounting & payroll and share registry business.

Earnings per share stood at 0.83 Singapore cent, up from 0.41 Singapore cent.

No dividend was recommended.

Despite the improvement in the first-quarter scorecard, Boardroom said it expects the uncertainties in the global and regional economies to have a negative effect on business sentiment.

"Competition for talent in a tight labour market continues to be a challenge. In addition, the recent movement in the foreign exchange market adds to the uncertainties ahead," said the firm in a statement, adding that it will continue to leverage on its regional footprint to expand.