ECS Holdings, the ICT solutions provider, says it posted a net profit after tax and minority interests (NPATMI) for the year ended 31 December 2009 (FY2009) rose 29.9% to a record high ot $38.2 million from $29.4 million a year ago, outstripping revenue growth for the fifth consecutive year.

The strong FY2009 bottom-line growth, achieved on a year-on-year revenue increase of 10.2% to $3.3 billion from $2.9 billion, reflects the added value from ongoing efforts to improve financial and operational efficiencies.

The full-year performance was propelled by the group’s 4Q09 record 52.4% net profit growth to $12 million from $7.9 million a year earlier as revenue rose 23.4% to $892.7 million from $723.6 million over the respective periods, buoyed by strong Distribution sales as IT spending began to pick up.

Similarly, revenue growth in FY2009 was mainly contributed by the Distribution segment, which grew 14.1%, led by the strong sales in notebooks and desktops.

As at 31 December 2009, ECS generated a positive operating cash flow of $29.5 million, up from $16.4 million at 31 December 2008. Working capital days were further reduced to 35.9 from 37.4 over the comparative periods.

Due to the improved operating cash flow and profitability, the net gearing improved to 0.48 times.

Earnings per share (EPS), on a fully diluted basis, correspondingly rose to 10.45 cents versus 8.04 cents in FY2008 while net asset value (NAV) per share increased to 71.03 cents as at 31 December 2009 versus 65.09 cents a year ago.

ECS has proposed a first and final dividend of 3.0 cents, the highest in its history which compares with 2.7 cents declared for FY2008.

Tay Eng Hoe, Group CEO of ECS, says, “The improvement in the top-line and bottom-line in FY2009 despite the challenges posed by the global financial crisis demonstrates the efficacy of our cost and operational improvement efforts. Over the last few months, there has been an increase in pent-up IT spending by government and enterprises globally. This momentum is expected to continue into FY2010. With this, we are also encouraged by signs of economic recovery in the Asia Pacific region, where we operate.”