KUALA LUMPUR (Oct 30): Signature International Bhd posted net profit of RM8.76 million in the fourth quarter ended June 30, 2014 compared with a net loss of RM1.05 million a year ago.

The company attributed this to higher revenue recognized in the current quarter from the main segment especially the project division of the kitchen and wardrobe segment.

"This increase is also resulted from the projects completed in the quarter that has high margin as well as costs saving from some projects," it told Bursa Malaysia in a filing.

Quarterly revenue soared 73% to RM63.55 from RM36.69 million previously for the same reason.

The one stop kitchen and wardrobe systems provider also proposed a first and final single tier dividend of five sen per share for FY14.

For the full year, Signature saw its net profit jumped almost triple to RM19.57 million from RM5.05 million last year.

Revenue for the year expand by nearly 48% to RM178.7 million against RM120.85 million a year ago. Earnings per share for the year ballooned to 15 sen from 3.9 sen previously.

Commenting on its business performance, Signature said its design, manufacturing and retail of kitchen and wardrobe systems segment remained as the core revenue and earnings contributor.

This division, according to the group, has made up of 88.5% of total revenue and 83.1% of the consolidated profit before tax (PBT).

While the projects division within this core segment contributed more than 60% to the group's revenue.

Moving forward, Signature expects its all business segments to continue to growth, and is expected to soar higher with more sales recognition arising from the existing unbilled order book of RM250 million from its project division.

"The continuous replenishment of order book from the project bidding currently undertaken by the group will provide the group with a continuous stream of revenue recognition," said Signature.

"Barring any unforeseen circumstances, the board is optimistic that the group prospects will remain bright and continue to achieve its objectives in next coming year," it added.

Shares of Signature closed unchanged at RM1.74 with 40,800 units traded today. It has a market capitalisation of RM205.2 million.