Vicom 1Q earnings fall 6.3% to $6.8 mil on lower business volumes

The group’s operating costs of $16.2 million for the quarter were $0.7 million or 3.9% lower than 1Q16, in tandem with the lower business volumes.

Consequently, group operating profit fell 6.8% to $7.9 million.

Vicom says the vehicle testing business will continue to face high de-registration rate although this will be offset partially by the increase in the number of Certificate of Entitlement (COE) revalidations.

The non-vehicle testing business will continue to weaken with the general slowdown in the industries that it serves.

Shares of Vicom closed 2 cents higher at $5.70.