IPS Securex cruises towards 2016 as profit doubles

Profit is expected to grow ten-fold next year.

The increasing demand for non-lethal weapons as riots around the region escalated drove the security solutions company to experience successes in all its sectors all year long.

Analysts from RHB said IPS' topline rose 25.9% to SGD15.7m due to a 19.8% increase in the security solutions business and a 38.7% rise in the maintenance and leasing business. Operating leverage also drove the net margins to improve to 14.4% in 2015.

Meanwhile, RHB said IPS' profits could potentially grow 1000% next year once its USD50m PepperBall contract becomes recognised.

"Management mentioned that it is keen to reward its shareholders with a higher dividend payout or special dividends if it delivers strong results in FY16, which we estimate to lead to a 6% FY16F yield, based on a 30% dividend payout," RHB said.

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