SINGAPORE (Feb 27): Advancer Global posted a near 40% drop in earnings to $2.7 million for FY2016 from a year ago, as the company incurred higher costs following its listing last year.
However, its revenue grew by 13.7% to $50.9 million, driven by both newly-acquired businesses and organic growth.
The company plans to pay a final dividend of 0.43 cent per share, which will bring the full year payout to 0.78 cent, or half its FY2016 earnings.
Advancer Global runs a chain of maid agencies. It also provides facilities management services. It also provides security guards and as well as related training via the recent acquisition of Ashtree International.
As at Dec 31 last year, the company had on hand $3.6 million worth of facility management contracts.
It believes that the growth in the number of dual income households will underpin growing demand for domestic helpers and thereby, more business for the company.
Year to date, Advancer Global shares have gained nearly 6% to close at 37.5 cents on Feb 24 2017.
