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Challenger Technologies reports 31% jump in earnings, plans higher dividend of 2.7 cents

The Edge Singapore
The Edge Singapore2/8/2021 6:59 PM GMT+08  • 1 min read
Challenger Technologies reports 31% jump in earnings, plans higher dividend of 2.7 cents
Earnings up thanks to rental waivers, rebates, government grants, wage subsidies, and lower employee benefits.
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Retailer of IT gadgets Challenger Technologies has reported a 17.8% y-o-y drop in revenue to $270.8 million between FY2019 and FY2020, as the company generated lower sales in the absence of trade shows.

However, earnings for the year was up 31% to $23.3 million, thanks to a combination of rental waivers, rebates, government grants, wage subsidies, and also lower employee benefits.

The company, which operates a network of 42 stores, plans to pay a final dividend of 2.7 cents, up from 1.5 cents declared for the same period last year.

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