Trek 2000 FY17 net profit up 1.6% to US$6.2m despite 32% dip in revenue

DESPITE the disposal of 19 per cent stake in Racer Group, Singaporean technology company Trek 2000 International (Trek 2000) reported a 1.6 per cent increase in net profit for FY2017 to US$6.2 million from the previous fiscal year, the group said in a Singapore Exchange filing on Thursday evening.

Earnings per share crept up to 1.9 US cents from 1.87 US cents in the previous year.

For the 12 months ended Dec 31, revenue dived 32 per cent to US$112.6 million from the preceding year.

The decline in revenue was mainly related to its Interactive Consumer Solutions division's business and the disposal of Racer Group in the first quarter of FY2017, it said.

Net asset value per share sank to 15.26 US cents as at Dec 31, from 37.98 US cents in a year ago.

Trek 2000 has declared a dividend of one Singapore cent per share, which will be payable to shareholders on May 16.

Trek 2000 shares last traded on Feb 21 at S$0.24.