ZICO profits up 40.8% in FY14, excluding one-off listing expenses

Management and Support Services segment a boon.

ZICO’s top line grew by 85.7% to RM35.7 million in FY2014, from RM19.2 million in FY2013.

In a media release, it was announced that excluding one-off listing expenses, profit before tax would have risen 40.8% to RM18.3 million in FY2014

ZICO began its Management and Support Services business in FY2014, buoying strong recurring revenue streams and boosting the Group’s level of earnings visibility.

Subsequent to the IPO and the 2014 financial year end, ZICO formed a joint venture with Stamford Law Corporation and acquired its corporate secretarial business for approximately S$2.4 million in January 2015.

Additionally, ZICO also entered into a binding term sheet to acquire a major Singapore player in the share registrar business, B.A.C.S. Private Limited for S$8.6 million in January 2015.