Distributor Serial System has reported earnings of US$5.3 million for 2HFY2021 ended Dec 2021, up 12% y-o-y.
Revenue in the same period was up 10% to US$457.6 million, as the company enjoys better business from both a larger customer and supplier base.
For whole of FY2021, the company reported earnings of US$11.1 million, up 4,168% over the preceding FY2020.
Revenue, meanwhile, was up 22% to US$895.9 million.
The company plans to pay a final dividend of 0.45 cent, bringing full year FY2021 payout to 0.67 cent, versus 0.11 cent in FY2020.
CEO Derek Goh (picture) says the company’s turnaround is yet to complete. “We continue to see opportunities amid the disruptions to the semiconductor sectors even as our peripherals and other business segments record encouraging growth despite the pandemic.”
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The company will continue to grow its customer and supplier base and further improve efficiencies. It is also expecting demand for electronics parts such as semiconductors to remain strong amid a global shortage.
Serial System shares closed Feb 23 at 12 cents, up 2.59% for the day and up 8.18% year to date.
Photo: Samuel Isaac Chua / The Edge Singapore
