Vicom reports 5.6% jump in Q3 earnings to $7.2 million

SINGAPORE - Vehicle testing company Vicom's third quarter net earnings rose by 5.6 per cent to $7.2 million.

Revenue for the three months to Sept 30 was up 3.5 per cent at $27 million, contributed by higher business volume.

Earnings per share increased to 8.08 cents from 7.67 cents while net asset value per share firmed to 148.03 cents compared to 145.86 cents as at Dec 31.

Looking ahead, Vicom said the demand for vehicle testing services is expected to moderate as more vehicles are expected to be deregistered.

The non-vehicle testing business is expected to grow even though competition remains keen.