Serial System's 2HFY2021 earnings up 12% to US$5.3 mil

The company's turnaround is yet to complete

Distributor Serial System has reported earnings of US$5.3 million for 2HFY2021 ended Dec 2021, up 12% y-o-y.

Revenue in the same period was up 10% to US$457.6 million, as the company enjoys better business from both a larger customer and supplier base.

For whole of FY2021, the company reported earnings of US$11.1 million, up 4,168% over the preceding FY2020.

Revenue, meanwhile, was up 22% to US$895.9 million.

The company plans to pay a final dividend of 0.45 cent, bringing full year FY2021 payout to 0.67 cent, versus 0.11 cent in FY2020.

CEO Derek Goh (picture) says the company’s turnaround is yet to complete. “We continue to see opportunities amid the disruptions to the semiconductor sectors even as our peripherals and other business segments record encouraging growth despite the pandemic.”

The company will continue to grow its customer and supplier base and further improve efficiencies. It is also expecting demand for electronics parts such as semiconductors to remain strong amid a global shortage.

Serial System shares closed Feb 23 at 12 cents, up 2.59% for the day and up 8.18% year to date.

Photo: Samuel Isaac Chua / The Edge Singapore

See Also:

• Click here to stay updated with the Latest Business & Investment News in Singapore

• LY Corp chairman, Serial System's Goh and iFast director Lim raise stakes in respective firms

• Serial System back in the black in 3Q with earnings of US$3.4 mil

• Serial System raises $1.35 mil through placement of 9 mil shares

• Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World

• Get in-depth insights from our expert contributors, and dive into financial and economic trends

• Follow the market issue situation with our daily updates

• Or want more Lifestyle and Passion stories? Click here