Logo from Geo Energy Group

Geo Energy's FY23 net profit drops 62% YoY 

The company attributed the decline to its lower gross profit.

Geo Energy ended FY23 with a 62% YoY lower net profit of US$62.7m.

In a bourse filing, the company attributed the decline to its lower gross profit of US$79.2m.

Compared to the FY22 record of US$272.1m, the company's gross profit declined 71% YoY.

Despite lower net profit, the company proposed a final dividend of $0.006 per share, bringing the total dividend for 2023 to $0.02, translating to a total dividend pay-out ratio of 33.7%.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!