Starburst’s net profit up 51.7% in FY14

Thanks to its firearm shooting ranges.

When Starburst entered SGX in July, its unique business model piqued the interest of investors.

According to a media release, the company’s revenue increased by 87.6% from S$21.0 million in FY2013 to S$39.4 million in FY2014.

Starburst’s firearm shooting ranges segment contributed to the bulk of FY2014’s revenue at 76.5% while the tactical training mock-ups segment and maintenance services and others segment contributed 6.4% and 17.1% respectively.

The company’s net profit for the year rose 51.7% from S$8.7 million in FY2013 to S$13.2 million.

 The proposed dividends of 1.2 Singapore cents per ordinary share translate to a payout ratio of 22.8% of Starburst’s FY2014 net profit, in line with its intended dividend payout ratio of at least 20% as laid out during the IPO.

Starburst is an engineering group specialising in the design and engineering of firearms-training facilities.