February 12, 2018

USP Group Limited, a diverse business group, today reported a net profit of S$0.97 million for the three months ended on 31 December 2017 (Q3FY2018) as compared to a loss of S$2.92 million for the corresponding period last year (Q3FY2017).

The Group’s total revenue stood at S$9.59 million (Q3FY18) which was 11.4 per cent higher as compared to S$8.61 million for Q3FY17. Gross profit was 7.4 per cent lower from S$3.67 million in Q3FY17 to S$3.40 million in Q3FY18.

Selling and distribution expenses for the Group increased by 72.5% to S$0.33 million in Q3FY18 compared to S$0.19 million in Q3FY17. The increase was attributed to higher expenses which corresponded with the increase in revenue.

The Group’s net profit for the third quarter was boosted by the exceptional gain on the divestment of MSV Systems which amounted to S$1.16 million. As a result, EBITDA increased to a positive S$1.99 million for Q3FY18 as compared to a negative EBITDA of S$1.98 million for the corresponding period last year.