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Stratech Systems Records 3-Fold Rise in Half-Year Net Profit to S$0.52 Million
- Revenue up 21 per cent reflecting steady growth
Singapore, 15 November 2008 – Mainboard-listed Stratech Systems Limited (“Stratech” or “the Group”) today announced a net profit of S$0.52 million for the half-year ended 30 September 2008 (“1H2009”), a 3-fold surge from the S$0.15 million reported for the corresponding period last year.
The half-year revenue of S$7.21 million is a 21 per cent increase over the corresponding period, 1H2008.
Half-year net operating expenses inched up 8 per cent to S$4.52 million from $4.19 million. This is due to increase in salaries and employment benefits arising from new projects secured, as well as, higher depreciation and amortisation expenses. However, improved overhead and cost management helped to mitigate the rise in net operating expenses.
The Group’s net assets grew to S$12.9 million at the period-end, up from S$12.2 million at 31 March 2008 .
Commenting on the half year results, Dr David K.M. Chew, Executive Chairman of Stratech, said: “Our positive set of half-year results shows that the Group has progressed steadily. We had clinched several new contracts including Super BullsEye® II projects and e-Systems projects over the past few months. Going forward, Stratech will continue to focus on our ‘powered by Stratech’ strategy to unlock the value of our intellectual properties.”
Recent developments in line with the ‘powered by Stratech’ strategy include:
About Stratech Systems Limited (“Stratech”)
Stratech Systems Limited (“Stratech”) was listed on the mainboard of the Singapore Exchange in 2000. It is principally engaged in the design, development, integration, implementation, maintenance and project management of information technology and advanced technology systems. The Group delivers large-scale complex, real-time, mission-critical systems in the areas of intelligent Vision, intelligent Transport Systems and e-Systems for governments and businesses.
Founded in 1989, the Group has established an impressive track record serving industries such as aerospace and defence, financial services, government, healthcare, homeland security and transportation (air, sea and land). The Group develops and implements advanced technology solutions that achieve significant business transformation and competitive advantage for its clients.
In 2006, Stratech won the Research and Development prize for its intelligent Airfield/Runway Surveillance and Foreign Object and Debris (FOD) Detection System at the Asia Pacific ICT Awards. Stratech’s iFerret ™ (the world’s first system to utilise intelligent Vision to detect and classify foreign objects, with the ability to pinpoint the location of the foreign objects) was awarded The Enterprise Challenge (TEC) initiative by the Prime Minister’s Office of Singapore in 2006.
For more information, please visit www.stratechsystems.com
Stratech Systems Limited