Ntegrator interim net profit up 101% to S$537,000

Thanks to 49.6% revenue rise to S$21m.

Regional communications network specialist and systems integrator firm Ntegrator International Ltd (Ntegrator) delivered a two-fold jump in net profit to S$537,000 for the half year ended June 30, 2013 (HY2013), from S$267,000 in the previous corresponding financial period (HY2012).

The group said the significant increase in net profit was achieved on the back of a 49.6% surge in revenue to S$21.0 million for HY2013, as the Group recorded higher contributions from both Project Sales and Project Management and Maintenance Services business segments.

Mr Jimmy Chang, Managing Director of Ntegrator, said: “We are pleased with the strong financial performance achieved at mid-year, which reflects the continual growth of our core businesses. It is encouraging that our growth efforts in Singapore as well as emerging markets such as Vietnam and Myanmar are paying off."

On a segmental basis, gross profit from the Project Sales segment jumped 18.3% to S$2.7 million for HY2013, on the back of a 39.0% increase in revenue to S$12.6 million for HY2013. The strengthened performance was mainly due to the completion of projects in emerging markets such as Vietnam and Myanmar.

Overall, Group profitability was further enhanced by a 36.3% jump in gross profit to S$1.8 million at the Group’s Project Management and Maintenance Services segment, which was achieved on the back of a 69.1% increase in revenue to S$8.4million. This is the result of the Group’s strategic focus to build and increase a recurrent revenue stream.

The Group maintains a healthy balance sheet with shareholders’ equity of S$21.6 million, and a healthy cash position of S$4.5 million in cash and cash equivalents as at the end of June 2013.

As at June 30, 2013, Ntegrator maintains a healthy order book of approximately S$60.7 million, which is expected to contribute positively to its financial performance within this financial year. While the Group remains mindful of market competition and challenges, Ntegrator said it continues to see strong opportunities in its key operating markets.

“Over the years, we have successfully built up a strong track record and established close business relationships with key suppliers and customers in multiple regions, which positions us well for growth. Moving forward, it remains our strategy to focus on increasing recurrent incomes as we continue to seek out growth opportunities in our key operating markets such as Singapore, Vietnam and Myanmar,” Mr Chang concluded.