Earnings per share (EPS) for 4Q20 and FY20 amounted to 0.06 cent and 0.23 cent respectively.
For FY20, the group made a net profit of $5.6 million, compared to the $19.3 million loss the year before.
Group revenue for 4Q20 grew 18.4% y-o-y to $88.5 million on the back of a “healthy demand” for the group’s services, and an improvement in tender prices.
Group revenue for FY20 grew 6.1% y-o-y to $342.8 million.
Quarter-on-quarter, CSC Holdings recorded a 5.5% increase in revenue compared to 3QFY20 as a result of higher contribution from the its equipment trading division.
Earnings before interest, tax, depreciation and amortisation (EBITDA) for 4Q20 surged 5,550% to $11.3 million from 4Q19’s $0.2 million. EBITDA for FY20 surged 334% to $40.8 million from $9.4 million FY19.
Gross profit and gross profit margin (GPM) for 4Q20 rose over 200% at $12.9 million and 14.6%, compared to $4.3 million and 5.7% in 4Q19.
“The higher gross profit and GPM reflect the improvement in tender prices and business activity,” says CSC Holdings, in a Monday statement.
CSC Holdings recorded lower other income of $0.3 million for 4Q20 compared to the $0.5 million in 4Q19 mainly due to a lower gain from the disposal of old equipment.
In FY20, the group’s income came in at $2.2 million, compared to the $1.9 million the year before. The increase took into account a $1.3 million gain from the disposal of old equipment, along with a profit distribution of $0.2 million from the group’s 5% owned mixed-use property development project in Iskandar Malaysia.
As at March 31, cash and cash equivalents stood at $14.3 million.
Looking ahead, the group says it will “focus on capital and cash flow management to mitigate and manage the financial implications arising from COVID-19”.
As at June 26, the group’s order book stands at approximately $160 million.
Shares in CSC Holdings closed 0.1 cent higher, or 6.3% up, at 1.7 cents.
