Vicom's Q2 net profit up 5.5% due to higher business volume

SINGAPORE - Provider of vehicle inspection and testing services Vicom's second quarter net profit increased 5.5 per cent to $7.23 million.

Revenue rose 2.4 per cent to $27.3 million owing to higher business volume in the three months to Jun 30.

First half net profit went up 6.5 per cent to $15.2 million.

Vico said the demand for the vehicle testing services is expected to moderate as more vehicles are expected to be deregistered in the year.

But it expects its non-vehicle testing business to grow despite the keen competition.

Earnings per share was 8.16 cents, up from 7.75 cents.

Net asset value per share was $1.487, up from $1.4586 previously.