ISOTeam swings to black with S$2.9m Q4 profit

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CATALIST-LISTED ISOTeam on Wednesday posted a fourth-quarter net profit of S$2.9 million, recovering from a net loss of S$1.9 million a year ago, on strong revenue growth generated by its repairs and redecoration (R&R) business. Read more at The Business Times.

CATALIST-LISTED ISOTeam on Wednesday posted a fourth-quarter net profit of S$2.9 million, recovering from a net loss of S$1.9 million a year ago, on strong revenue growth generated by its repairs and redecoration business.

It is recommending a dividend of 0.42 Singapore cent per share for the full year. This represents a payout ratio of 20.4 per cent of consolidated profit after tax and minority interests, excluding non-recurring, one-off and exception items for the fiscal year.In the fourth quarter ended June 30, the group saw a 63.7 per cent rise in revenue to S$33.1 million, from S$20.2 million the year before, with its R&R business growing 153.7 per cent to S$11.3 million from S$4.5 million a year ago.

It also plans to enhance subsidiary SG Bike’s market share in the bike sharing industry in Singapore. In doing so it entered into an asset transfer agreement with Singapore Mobike for the purchase of 25,000 additional bicycles along with licenses issued by Singapore’s Land Transport Authority.

 

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