Challenger Technologies' Q4 earnings up 50%

SINGAPORE - Information technology products and services provider Challenger Technologies posted higher fourth-quarter earnings on the back of stronger gross profit and lower operating expenses.

Revenue for the three months to Dec 31 decreased by 9 per cent to S$95.6 million compared with the same period a year earlier, due to lower retail and corporate sales.

However, net profit for the quarter climbed 50 per cent to S$7.5 million.

Full-year revenue dipped 1 per cent to S$352.2 million but net profit rose 22 per cent to S$18.3 million due to higher government grants and lower operating expenses after the closure of retail operations in Malaysia.

Earnings per share for the quarter increased to 2.22 cents from 1.43 Singapore cents a year earlier. Net asset value per share was 22 cents as at Dec 31 last year, compared with 19.21 cents as at Dec 31, 2014.

The board has proposed a final dividend of 1.55 cents.