SINGAPORE (Nov 8): Vehicle inspection services provider Vicom posts a 5.9% decline in earnings to $6.4 million for the 3Q ended September, from $6.8 million a year ago.
Revenue slipped 3.4% to $24.6 million in 3Q17, from $25.4 million a year ago, due to lower business volumes.
As at end September, cash and cash equivalents stood at $99.4 million.
Looking ahead, Vicom says its vehicle testing business is expected to remain stable.
Meanwhile, the group says the Land Transport Authority’s move to cut vehicle growth rate to 0% will have no immediate impact on its vehicle testing business.
Shares of Vicom closed 4 cents higher at $5.85 on Wednesday.
