ECS HOLDINGS LIMITED Singapore, 12 November, 2014 - ECS Holdings Limited ("ECS" or the "Group") announced today its net profit increased to $9.7 million for the three months ended 30 September 2014 from S$8.7 million a year ago as a result of the Group's increased focus in higher-margin Enterprise Systems.
Gross profit grew 9.7% to S$41.9 million for the three months ended 30 September 2014 (three months ended 30 September 2013: S$38.2 million). Gross profit margin for the three months ended 30 September 2014 declined marginally to 3.7% from 3.8% last year due to competition - mainly for servers and enterprise software products - from Enterprise Systems sales in North Asia.
The Group recorded a net profit of $9.7 million for the three months ended 30 September 2014, an increase from $8.7 million a year ago. Net profit margin remained consistent across the comparative quarters at 0.9%.
Earnings per share for the three months ended 30 September 2014 was at 2.62 cents (three months ended 30 September 2013: 2.37 cents) and Net Asset Value per share was at 105.95 cents as at 30 September 2014 (as at 31 December 2013: 101.59 cents).
Mr. Ong Wei Hiam, Group Chief Executive Officer, said, "Worldwide IT spending continues to grow on the back of increased investments in technology in the consumer and enterprise segments. This would fuel demand for smartphones as well as enterprise products, which the Group is focusing on."
Mr. Tay Eng Hoe, Group Executive Chairman, said, "Our efforts to concentrate on higher-margin Enterprise Systems segment are paying off and we remain committed to drive further growth in this segment to enhance shareholder value. "
The Group's Enterprise segment, which offers higher margins, is expected to continue to grow.
Barring any unforeseen circumstances, the Board of Directors is cautiously optimistic about the Group's financial performance in the fourth quarter of 2014 and the full financial year ending 31 December 2014.
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