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Global Invacom nets US$ 8 million in profits

Ike Suarez | April 16, 2014
This is its first profitable financial year (FY) following its reverse takeover (RTO) by the Radiance Group

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.

Dividend Issue

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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