Net profit was up 23% YoY.

BRC Asia's net profit reached a record $93.5m in FY2024, marking a 23% YoY increase.

The company attributed its growth to a $16.5m one-off gain from the disposal of its associate, Pristine Islands Investment, and a $1.2m fair value gain on investment securities from its 19.9% stake in Angkasa Daehan Steel.

However, the absence of foreign exchange gains and reduced credit insurance claims for bad debts partially offset these gains.

Boosted by higher net profit, earnings per share rose 24% YoY to $0.341.

The Board approved a final dividend of $0.08 and a special dividend of $0.06, bringing the total FY 2024 dividend to $0.20, with a payout ratio of 59% and a yield of 8.4%.