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STRATECH POSTS SIGNIFICANT RECOVERY WITH FULL-YEAR NET PROFIT OF S$0.8 MILLION
The Group recorded full-year turnover and gross profit of S$12.1 million and S$8.6 million, respectively. Gross profit margin was 71 per cent, a notable improvement from the previous period’s annualised margin of 60 per cent..
Operating expenses of S$7.8 million for the current financial year were significantly lower than the annualised S$13.4 million incurred in the previous financial period.
Dr David K M Chew, Executive Chairman of Stratech said: “The full-year results have been very encouraging. During the year in review, we successfully secured contracts with major customers within the homeland security, aerospace and other industries. These have contributed to the marked improvement in our financials, and are also a testament to the commercial potential of our technology. With our commitment to the ‘powered by Stratech’ strategy, we are confident that the Group will see continued growth.”
Using the “powered by Stratech” strategy, the technological innovations could be commercialised through ways such as licensing, alliances, joint ventures and spin-outs.
To execute the strategy, in March 2008, the Group announced plans to undertake a notes issue to Pacific Capital Investment Management Limited of unsecured non-interest bearing notes due 2011 in aggregate principal amount of up to S$60 million, subject to in-principle approval from the Singapore Exchange Securities Trading Limited and shareholders’ approval.
About Stratech Systems Limited (“Stratech”)
Stratech Systems Limited (“Stratech”) was listed on the Main Board of the Singapore Exchange in 2000. It is principally engaged in the design, development, integration, implementation, maintenance and project management of information technology and advanced technology systems. The Group delivers large-scale complex, real-time, mission critical systems in the areas of intelligent Vision, intelligent Transport Systems and e-Systems for governments and businesses.
In 2006, Stratech won the Research and Development prize for its intelligent Airfield/Runway Surveillance and Foreign Object and Debris (FOD) Detection System at the Asia Pacific ICT Awards. Stratech’s iFerret™ (a world’s first system to utilise intelligent Vision to detect and classify foreign object, with the ability to pinpoint the location of the foreign objects) was awarded The Enterprise Challenge (TEC) initiative by the Prime Minister’s Office of Singapore in 2006.
Founded in 1989, the Group has established an impressive track record serving industries such as aerospace and defence, financial services, government, healthcare, homeland security and transportation (air, sea and land). The Group develops and implements advanced technology solutions that achieve significant business transformation and competitive advantage for its clients.
For more information, please visit www.stratechsystems.com