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SINGAPORE: Mainboard-listed Singapore Computer Systems (SCS) has more than doubled its earnings for the full year.
Net profit came in at S$17.6 million, up 140 percent on-year, while group revenue was 21 percent higher at S$453 million.
SCS said this was the highest turnover in five years and the first double-digit revenue growth in seven years.
The improved showing was because of higher revenue contributions from both its infrastructure and business solutions segments.
SCS said it expects its home market in Singapore to remain positive, despite the recent turbulence in the international financial markets as a result of uncertainties in the US economy.
The company is citing the government's view that Singapore is in a strong position to weather changes in the global economy and can expect to continue growing its economy this year.
According to IDC, the ICT market in Asia Pacific excluding Japan is predicted to reach US$154 billion in 2008, a 10% rate of growth over 2007.
SCS said it will continue to grow its continuity and disaster recovery business, as well as its application and infrastructure management services business to service both the public and commercial sectors.
Barring any unforeseen circumstances, the group expects to remain profitable for 2008. - CNA/ir
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