GRP posts S$0.87m net profit for FY2018

INDUSTRIAL product supplier GRP Limited reported a net profit of S$0.87 million for the full year ended June 30, compared with a net loss of S$9.8 million in the previous year.

Revenue decreased 13.9 per cent to S$29.6 million from S$34.4 million, on the back of weak demand due to protracted weakness in the offshore and marine industry.

Earnings per share were 0.45 Singapore cent, versus loss per share of 5.59 Singapore cents last year.

The company announced a cash dividend of S$0.005 for the period, on a date yet to be determined. No dividend was issued in the previous financial year.

Shares of GRP last traded flat at S$0.135 on Tuesday.