Stratech Systems Doubles Half-Year Net Profit
- Revenue up 12 per cent
Singapore, 12 November 2009 – Singapore Exchange Mainboard-listed Stratech Systems Limited (“Stratech” or “the Group”) today announced an unaudited net profit of S$1.1 million
for the half-year financial period ended 30 September 2009 (“1H2010”), a 110 per
cent increase from the S$0.5 million reported for the previous corresponding period
The Group recorded a revenue of S$8.1 million for 1H2010, an increase of 12 per
cent over 1H2009’s revenue of S$7.2 million. The gross margin of S$5.9 million
(representing 74 per cent of revenue) was also 18 per cent higher than the S$5.0
million for 1H2009.
New businesses accounted for S$2.1 million whilst existing contracts contributed
S$5.9 million to the revenue. International sales contributed 35 per cent of total
Recent contract wins included the sub-contract to
design, co-develop and implement a TV Ordnance Scoring System (TOSS) for the
Republic of Korea Air Force (ROKAF), powered by Super BullsEye® II Advanced
Weapons Scoring System; as well as the deployment of iFerret™ intelligent
Airfield/Runway Surveillance and Foreign Object and Debris (FOD) Detection
System at an airport in Europe – the world’s first apron deployment for FOD
Salaries and related costs decreased by 23 per cent. The Group's net assets grew to
S$16.0 million at the period-end, up from S$14.8 million as at 31 March 2009.
Commenting on the half-year results, Dr. David K.M. Chew, Executive Chairman of
Stratech, said: “Our results show that the Group is keeping up with its growth
momentum. Barring unforeseen circumstances, the Group is cautiously optimistic of
its performance for the current financial year.”
The Group's order book at the period-end stood at S$42.6 million (including options
of up to 10 years) of which S$27.1 million is expected to be delivered over the next
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