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Vicom reports weaker 3Q21 profit compared to 3Q20, but better results if govt grants removed

Lim Hui Jie
Lim Hui Jie11/9/2021 6:25 PM GMT+08  • 2 min read
Vicom reports weaker 3Q21 profit compared to 3Q20, but better results if govt grants removed
Operating profit for 3Q21 was higher compared to 3Q2020, if government grants were stripped out.
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Vehicle inspection company and ComfortdelGro subsidiary Vicom has seen revenue rise in 3QFY2021, but operating profit fall compared to the same period a year before.

3QFY2021 revenue saw a 18% boost y-o-y to $26.28 million from $22.19 million, but operating profit was down 4% y-o-y to $7.94 million.

It should be noted, however, that this was mainly due to lower Covid-19 grants from the government, because if the grants were stripped out, operating profit would have been 21% higher y-o-y.

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