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OTS Logs Lower Profit, Revenue in Fiscal H2; Shares Slip 3%

MT Newswires ·  {{timeTz}}

11:33 PM EDT, 08/29/2021 (MT Newswires) -- OTS Holdings' (SGX:OTS) profit for the fiscal second half dropped to SG$112,000 ($83,180) from SG$2.8 million a year ago, mainly due to the initial public offering-related expenses incurred during the period.

Revenue for the six months ended June 30 slipped 12.6% year over year to SG$17.4 million from SG$19.9 million, according to a Sunday bourse filing.

The Singaporean food manufacturer and brand builder proposed a final dividend of SG$0.007 per share and an interim dividend of SG$0.068 per share for the 12 months ended June 30.

OTS went public in June this year. Its initial public offering of 41 million shares was 8.4 times oversubscribed.

OTS Holdings' shares were down 3% in recent trade.

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