Vicom’s Q3 earnings up 45% as it installs more OBU units in Singapore vehicles

Vicom reported a 45% increase in Q3 profit after taxes to S$9.9 million, driven by a 36% rise in revenue to S$41.6 million, attributed to the installation of over 78,000 on-board units (OBUs) in vehicles. Despite a 32% rise in operating costs due to the OBU project, demand for inspection services remained strong amid Singapore's economic growth. For the nine months ending September, PATMI rose 22% to S$25.4 million. The company maintains a strong balance sheet with S$70.1 million in cash and current assets.