SINGAPORE - Catalist-listed ISOTeam on Wednesday (Aug 28) posted a fourth-quarter net profit of $2.9 million, recovering from a net loss of $1.9 million a year ago, on strong revenue growth generated by its repairs and redecoration (R&R) business.

Earnings per share (EPS) stood at 1.03 cents, from a loss per share of 0.65 cent the year prior, the construction company said on Wednesday.

It is recommending a dividend of 0.42 cent per share for the full year. This represents a payout ratio of 20.4 per cent of consolidated profit after tax and minority interests, excluding non-recurring, one-off and exception items for the fiscal year.

ISOTeam shares last traded flat at $0.23 on Aug 21.

In the fourth quarter ended June 30, the group saw a 63.7 per cent rise in revenue to $33.1 million, from $20.2 million the year before, with its R&R business growing 153.7 per cent to $11.3 million from $4.5 million a year ago. Its others segment meanwhile, grew 136.7 per cent to $9.5 million from $4.0 million the year before.

For the 12 months ended June 30, the group's net profit rose to $6.8 million from $491,000 a year ago. Its revenue surged 63 per cent to $136.6 million from $83.8 million the year before, with the group's addition and alteration (A&A) segment in the lead at with a 86.8 per cent rise to $67.7million from $36.2 million the year before.

EPS stood at 2.37 cents, from 0.17 cent the year before.

In the next two years, the group is expecting to deliver $113.5 million in value of projects - the size of its order book as at July 31. Its recent contract wins amounted to $20.3 million, it added.

With its proposed acquisition of Pure Group, a collective of six companies, it plans to bolster its regional presence with Pure Group's networking covering Singapore, Philippines, China, Malaysia and Thailand.

It also plans to enhance subsidiary SG Bike's market share in the bike sharing industry in Singapore. In doing so it entered into an asset transfer agreement with Singapore Mobike for the purchase of 25,000 additional bicycles along with licenses issued by Singapore's Land Transport Authority.

Anthony Koh, ISOTeam executive director and chief executive, called fiscal 2019 a "comeback year" for the group.

"We are excited about the next 12 months as we believe that this proposed acquisition [OF PURE GROUP]will open new revenue streams for us domestically and regionally as we seek to bolster our overseas market presence and order book," he added.