Silverlake Axis Q4 buoyed by associate's IPO

Singapore

AN accounting gain from the public listing of an associate helped prop up the bottom line of software solutions provider Silverlake Axis, which reported a one per cent rise in net profit for the fourth quarter ended June 30 to RM74.7 million (S$248 million).

Other income surged to RM24.3 million in the fourth quarter from RM3.2 million a year ago, which the group attributed mainly to an accounting gain of RM19.2 million on dilution of interest in an associate in China, Global InfoTech Co Ltd, following its initial public offering in May on Shenzhen's ChiNext.