Vicom's Q1 profit up 5.1% to S$8.42m

VICOM posted a 5.1 per cent year-on-year increase in net profit to S$8.42 million for the first quarter ended March 31, 2015.

Revenue for the quarter rose 5.2 per cent year on year to S$28.29 million, boosted by higher business volumes, while earnings per share for the quarter were 9.5 Singapore cents, up from 9.05 cents previously.

Meanwhile, operating profit for the quarter came to S$9.93 million, up 4.2 per cent.

"Demand for the vehicle testing services is expected to moderate as more vehicles are expected to be deregistered in the year. The non-vehicle testing business is expected to continue to grow even though competition remains keen," Vicom said.