mDR Q2 net profit trebles to S$1.69m on higher revenue

MAINBOARD-LISTED mDR saw net profit treble to S$1.69 million for the second quarter ended June 30 from S$576,000 in the year-ago period, it announced on Wednesday.

Revenue from continuing operations rose 11 per cent to S$66.97 million, lifted by higher revenue from mDR's investment and distribution management solutions (DMS) business segments.

Earnings per share were 0.003 Singapore cent, the same as in the year-ago period.

For the quarter, mDR has proposed a dividend of 0.00307 Singapore cent per share. None was proposed a year ago.

mDR noted that competition continues to intensify in Singapore's telco market, but said it expects its DMS performance to "remain relatively stable in the coming quarters". The group is also "actively exploring potential investment opportunities to build new revenue streams", it added.

mDR shares closed unchanged at 0.1 Singapore cent on Wednesday before the results release.