GP Industries back in the black for fourth quarter

SINGAPORE - The electronics and batteries manufacturer announced earnings attributable to shareholders of $1.5 million for the fourth quarter, an improvement from the loss of $23.7 million a year back.

For the financial year ended March 31, it recorded a net profit of $25.5 million, up from a loss of $9.7 million in the previous year.

This was mainly due to higher sales, improved margin and exchange gain, and came in spite of higher distribution costs and marketing costs which arose from "higher levels of brand building activities," it said.

Revenue was up 1.9 per cent for the quarter to $233.6 million, and up 2.7 per cent for the year to $973.8 million.

Earnings per share was 0.31 cents for the quarter and 5.16 cents for the year.

Net asset value was 72.51 cents at March 31, up from 64.26 cents one year ago.

The company recommended a final dividend of 1.8 cents per share, up from 1.6 cents last year.