GDS reports jump in full year profit, proposes higher dividend

SINGAPORE - CATALIST-LISTED GDS Global's full year net profit more than doubled to $4.5 million from $1.7 million last year.

Revenue for the year ended Sept 30 rose by 52.4 per cent to $23.9 million.

This was due to the rise in the sale of door and shutter systems arising from increased demand for such products from developers of industrial and commercial projects as well as delayed projects which spilled over from last year.

Earnings per share firmed to 4.03 cents from 1.64 cents previously while net asset value per share increased by 3.32 cents to 15.49 cents.

A final dividend of 1.3 cents a share was proposed, up from 0.7 cent last year.

Looking ahead, GDS said it remains cautiously optimistic that the outlook on the door and shutter solutions industry in Singapore will remain positive in the next financial year.

It continues to be on the lookout for new projects to maintain or expand its order book.