Sing Investments & Finance has posted a 37.8 per cent drop in net profit to $14.7 million.
A sum of $8.5 million for write-back had boosted net income in 2011. Profit was also lower as a result of the prolonged low interest rate environment as well as stiff market competition, resulting in margin compression.
Revenue for the year to Dec 31 inched up 1.2 per cent at $44.3 million.
Earnings per share slipped to 12.22 cents from 20.83 cents previously.
A final dividend of five cents a share was recommended, down from seven cents last year.