SINGAPORE (Aug 7): Advancer Global, the integrated workforce solutions and services provider, announced that it has registered a growth of 19.3% in 1H17 earnings to $2.3 million from a year ago.
This came on the back of a 37.4% increase in revenue to $31.9 million. All business segments registered revenue growth in 1H17, in particular, Building Management Services and Security Services. These two business segments are expanded with the acquisitions of Newman & Goh Property Consultants, Newman & Associates, Premier Eco-Care, Prestige Enviro-Care, and Green Management, and Ashtree International in 2H16.
Gross profit rose by 59.5% to $9.5 million in 1H17 from $5.9 million in 1H16. Gross profit margin improved from 25.5% in 1H16 to 29.6% in 1H17 as the group experienced an increase in gross profit margin throughout all its business segments.
Other operating income declined by 47.1% from $1.5 million in 1H16 to $0.8 million in 1H17, mainly due to a decrease in the amount from the government credit schemes such as Wage Credit Scheme and Temporary Employment Credit, and the absence of insurance premiums rebate in 1H17.
Looking ahead, Advancer Global expects the business environment to continue to be challenging and competitive, due to the overall slower economy and the fragmented service industries that its subsidiaries operate in.
The group has declared an interim dividend of 0.49 cent per share for 1H17 and that will be paid in September.
Shares in Advancer Global closed at 29 cents on Monday.