Information technology solutions provider Automated Systems has posted an annual profit of $36.18 million, the lowest since listing on the main board in 1997.
The company said profit slumped 52.8 per cent from $76.72 million in the year to March while revenue fell from $1.29 billion to $1.18 billion.
Managing director Lai Yam-ting said keen competition had put pressure on gross profit margins. The company also had one-off restructuring costs of $6.64 million.
A final dividend of 1.6 cents per share was proposed, bringing the total dividend for the year to 3.2 cents.
The company said government projects accounted for 40 per cent of total revenue, compared with 32 per cent a year earlier, while the education sector contributed 15 per cent, down from 21 per cent.
IT infrastructure accounted for 77 per cent of total revenue, followed by service maintenance, which cost 18 per cent.
