SINGAPORE - Chasen Holdings has swung back into the black in the fourth quarter ended Mar 31 with a net profit of S$1.2 million.

This marked a turnaround from the net loss of S$2.2 million in the same period a year earlier.

Revenue rose 29 per cent to S$32.3 million, thanks to higher turnover from its specialist relocation and third party logistics business segments across the United States, Thailand, Malaysia and China.

Earnings per share for the quarter was 0.28 cent, in contrast to a loss per share of 0.7 cent previously. Net asset value per share was 18.9 cents as at March 31, up on the 18.4 cents at the same time a year earlier.

For the full year, the mainboard-listed firm logged a net profit of S$2.6 million, compared with a net loss of S$1.5 million previously, while revenue climbed 14 per cent to S$106.2 million.

Chasen said it will announce at a later date whether it will give out an interim ordinary dividend. Shares of Chasen closed 3.8 per cent or 0.4 cent up at 10.8 cents on Monday, after the results were announced.