Vicom's Q2 profit down 8.3% to S$6.07m

VICOM'S net profit for the second quarter ended June 30 fell 8.3 per cent to S$6.07 million compared with the same period last year, as revenue slipped 5.2 per cent to S$24.08 million on lower business volumes.

Vicom is the vehicle inspection and testing unit of land transport giant ComfortDelGro, and Singapore's vehicle population has fallen from 12 months ago.

Q2 earnings per share were 6.85 Singapore cents, down from 7.47 Singapore cents the previous corresponding quarter.

A tax-exempt one-tier interim dividend of 13.12 Singapore cents per ordinary share has been declared, up from eight Singapore cents a year ago.

The dividend policy has been revised with immediate effect to a payout ratio of 90 per cent of net profit attributable to shareholders from the previous policy of 50 per cent.