Vicom Ltd has announced its financial results for the full year ending 31 December 2024, revealing a 6.8% increase in revenue to S$119.5m, up from S$111.9m in 2023. The company’s operating profit also saw a rise, reaching S$34.6m, a 4.8% increase from the previous year. This growth is attributed to improved performance across various sectors, including contract services and utilities.
The company’s total operating costs increased by 7.6% to S$84.9m, with notable rises in contract services and utilities and communication costs, which surged by 152.3% and 20.6% respectively. Despite these increases, Vicom managed to achieve a profit before taxation of S$35.7m, marking a 4.8% improvement from 2023.
Profit after taxation for the year stood at S$29.6m, a 5.7% increase compared to the previous year. The earnings per share also improved, with basic and diluted earnings per share rising to 8.26 cents from 7.78 cents in 2023.
The company’s financial position remains robust, with total assets increasing to S$211.2m from S$196.4m in the previous year. Cash and cash equivalents at the end of 2024 were reported at S$60.7m, reflecting a net increase of S$5.6m over the year.
Looking ahead, Vicom’s financial results indicate a positive trajectory, with increased revenue and profit margins suggesting continued growth and stability in the coming year.
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