You are here
Vicom Q2 profit down 12.6%
Vicom has posted a 12.6 per cent drop in net profit to S$6.62 million for the second quarter on lower business volumes.
Revenue for the three months ended June 30 fell to S$25.4 million, down 6.9 per cent from S$27.3 million a year ago, Vicom said in a Singapore Exchange filing on Wednesday.
Operating costs fell 2.5 per cent to S$17.9 million, while operating profit shrank 16 per cent to S$7.5 million.
Earnings per share for the quarter fell to 7.47 Singapore cents, down from 8.55 cents a year ago.
A dividend of eight cents per share was declared, down from 8.75 cents per share previously.
Your feedback is important to us Tell us what you think. Email us at btuserfeedback@sph.com.sg
"Demand for vehicle testing services will continue to be impacted as more vehicles will be deregistered during the year," Vicom said in a statement.
"Demand for non-vehicle testing services is not expected to improve with the continuing slowdown in the industries that we serve."
The counter closed one cent up at S$5.91 on Wednesday before the results were released.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
