PSC Corp has maintained its earnings for FY2022 over FY2021. For the year ended Dec 31 2022, the company reported earnings of $19.5 million, versus $19.6 million recorded over the year earlier.
Revenue was up 3.7% to $553 million, with higher sales from its consumer business in Singapore and Malaysia. On the other hand, its packaging business, via its separately listed subsidiary Tat Seng, was down.
The company plans to pay a final dividend of a cent per share, which, will bring full year payout to 1.25 cents - versus 0.75 cent paid for FY2021.
“As we move into FY2023, the business environment will remain very challenging," says executive chairman Sam Goi.
"However, the group has strong fundamentals with robust net cash position and balance sheet. Going forward, we will continue to leverage on our strengths to grow the business and exercise caution when exploring sustainable growth opportunities," he adds.
PSC shares closed Feb 24 at 32 cents.
