Trek 2000 Q1 net profit up 18.3% to US$544,000

SINGAPORE - Mainboard-listed Trek 2000 announced on Monday a 18.3 per cent rise in net profit to US$544,000 for the first quarter ended March 31, 2015, on the back of a 79.7 per cent jump in revenue to US$26.8 million.

The company said this increase had been driven largely by its mainstay Interactive Consumer Solutions (ICS) division, which had enjoyed a rise in sales of its Flucard and Wi-Fi memory modules.

Trek 2000's executive chairman and chief executive Mr Henn Tan added that the group had succeeded in securing "strategic partnerships" with international firms.

Earnings per share increased to 0.18 US cents for the quarter from 0.16 US cents previously. No dividend was declared.

The comany said in a press release that it would continue to attempt to capture more market share within the Internet of Things (IoT) sector, which it says is expected to reach US$3.0 trillion globally by 2020.