Global Invacom Group Ltd posted a net profit after taxes of US$ 8 million in its financial year 2013 which ended last December 31, its first profitable FY following a reverse takeover (RTO) by SGX ST-listed Radiance Group Ltd.
A press statement by Global Invacom said the profitable FY of the satellite equipment manufacturer comes in the wake of a US $17.7 million loss in FY 2012.
It added that in view of this, it has proposed issuance of a final one-tier tax exempt dividend of 0.5 Singapore cent per share, representing 11.4 % of net profits.
Improved quality, addition of new businesses and absence of goodwill written off were cited as reasons for the profitable FY.
Global Invacom Is a fully integrated satellite equipment provider with five manufacturing plants across China, Malaysia and the UK.
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