SINGAPORE (Feb 9): Vehicle inspection services provider Vicom saw its earnings fall 5.9% to $26.5 million for the full year ended December, from $28.2 million a year ago.
FY17 revenue fell 4.1% to $97.0 million, from $101.2 million a year ago, due to lower business volumes.
As at end December, cash and cash equivalents stood at $107.5 million.
Vicom has proposed a final dividend of 22.88 cents per share for FY17.
This is some 24% higher than the total dividends of 18.50 cents per share paid out a year ago, comprising a final dividend of 8.50 cents per share and an special dividend of 10.00 cents per share.
Looking ahead, Vicom says its vehicle and non-vehicle testing businesses are expected to remain stable.
The group notes that recent change in regulations by the National Environment Agency (NEA) for registration of new petrol and diesel vehicles to meet Euro VI standards has no impact on the vehicle inspection business.
Shares of Vicom closed 4 cents higher at $5.83 on Friday.