VicPlas International full-year earnings drop 12.5% to $5.5 million

PIPES and pipe fittings maker VicPlas International said earnings for the year ended July 31 fell 12.5 per cent to $5.5 million, as revenue rose 17.2 per cent to $86.1 million.

Revenue from medical devices segment inched 3 per cent to $49.3 million in FY2013 from a year ealier, while revenue from the pipes and pipe segment rose 43 per cent to $36.8 million.

This was boosted by an increase in public housing projects and civil engineering projects in new township developments in the year ended July 31.

Earnings per share as at July 31 was 1.21 cents, compared with 1.41 cents a year earlier, while net asset value per share rose to 10.9 cents from 10.14 cents previously.