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Serial System Q4 profit jumps 52%

MAINBOARD-LISTED electronic components distributor Serial System's fourth-quarter net profit rose 52 per cent year on year to US$4.65 million, boosted in part by stronger revenue.

Revenue increased 23 per cent to US$267.67 million for the quarter, while earnings per share rose to 0.52 US cent from 0.34 US cent previously.

For the full year, net profit was 44 per cent higher at US$16.09 million while revenue increased 27 per cent to US$1.04 billion.

Serial System recently acquired the entire distribution and trading entity arm of GSH Corporation and a 49 per cent stake in the distribution and trading entity of Achieva.

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"The group intends to focus on the integration of the supply chain and operations of these two acquisitions to improve revenue and economies of scale in line with our three-pronged strategy," said chief executive Derek Goh.

The group will also continue to pursue organic growth of its core electronic components business while exploring opportunities in mergers and acquisitions.

A final dividend of 0.75 Singapore cent has been proposed.