MOBILE telephone services specialist MDr, whose stock has dominated the actives list on the local bourse, posted its 10th consecutive quarterly profit as its aftermarket services business continued to register growth.

The company, carved out of now-defunct Accord Customer Care Solutions, posted a net profit attributable to shareholders of $1.53 million for the first quarter ended March, up 29 per cent from $1.19 million a year earlier. This was despite an 18 per cent fall in revenue to $73.1 million from $88.7 million, due to a slide in its distribution business after some disposals.

The company also continued to accumulate cash, which stood at almost $11 million at the end of the quarter, and that has since increased to almost $13 million now, following the conversion of some $3 million worth of warrants in recent months.

Company chairman Philip Eng said MDr was still registering growth and would remain profitable in the foreseeable future, though the traditional aftermarket service business was showing signs of slowing down. But with its cash cache, the company is well positioned to acquire earnings-accretive businesses, possibly this year, he added.