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Innovalues Q4 profit slips 10.8% to S$4.85m

INNOVALUES'S fourth quarter net profit fell 10.8 per cent to S$4.85 million for the three months ended Dec 31, 2015, as revenue dropped 3.7 per cent to S$26.85 million.

The slip in revenue was mainly due to a decrease in orders from customers in its automotive segment; Q4 automotive revenue fell 6.5 per cent to S$21.68 million.

Earnings per share stood at 1.5 Singapore cents - lower than 1.68 Singapore cents in the corresponding quarter a year ago.

A final cash dividend of 1.2 Singapore cents was proposed per ordinary share, as well as a special cash dividend of 1.4 Singapore cents per ordinary share.

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