Full-year earnings at Fischer Tech stay flat

SINGAPORE - Full-year earnings at specialist manufacturer Fischer Tech stayed relatively flat, edging up just 0.5 per cent to $13 million.

This was on the back of a 5.2 per cent drop in revenue to $178.1 million for the 12 months ended March 31, which was mainly due to a reduction in customers' orders from all product sectors, said the company in its earnings report on Tuesday.

The automotive sector, for example, which was the group's largest revenue contributor, slid 2.1 per cent to $155.5 million on a lower volume of business from existing customers.

Earnings per share slid to 23.49 cents from 23.73 cents previously. Net asset value per share stood at 196.69 cents as at March 31, up on the 184.09 cents as at the same time a year earlier.

Fischer Tech has declared a final dividend of three cents per share, along with a special cash dividend of three cents.