Fischer Tech full-year profit rises to S$7.48m

Singapore

IN line with higher revenue, Fischer Tech reported a net profit of S$7.48 million for the financial year ended March 31, 2015, up 12.7 per cent year on year.

Revenue rose 17.5 per cent to S$168.27 million on the back of increased orders from its customers across nearly all its sectors except for the computer peripherals sector, where sales slid 11.9 per cent on the back of lower demand for plastic components for printers.

With cost of sales rising nearly 18 per cent to S$137.3 million, gross profit came in 15.6 per cent higher at S$30.96 million. During the year, share of profits from associated companies came to S$436,000 versus a loss of S$579,000 a year ago.

Meanwhile, earnings per share rose to 2.74 Singapore cents, up from 2.43 cents a year ago.

The company has recommended a first and final dividend of 0.6 Singapore cent per share as well as a special cash dividend of 0.4 Singapore cent per share.

"The global business environment is expected to remain subdued and challenging, with rapidly rising wages, fluctuations in exchange rates and pricing pressures from customers," it said. "Despite the uncertain environment, the group remains positive on the long-term prospects and will continue to streamline the operations and improve operation efficiency in a subsidiary."

In addition, it plans to ramp up capacity and enhance production capability for selected profitable operations.

The counter closed at 19.9 Singapore cents on Monday, down 0.1 cent.