However, Vicom warns that while the demand for the group’s services was strong, intense competition and high inflation rates continued to put pressure on profit margins.
Led by a higher volume of testing services provided, Vicom (SGX:WJP
) has reported earnings of $26.2 million for FY2022, up 5.7% over the preceding year. Revenue in the same period was up 7.3% to $108.3 million.
Vicom says that higher demand was seen for non-vehicle testing services with the pandemic easing and economic activities back to normal. Sectors singled include construction, marine and offshore, oil and gas and manufacturing.
