Low FPS on empty scene

I made an empty scene with just one game object to display FPS. When I run on my android phone, I get pretty bad stats.

 Android Unity internal profiler stats:
 cpu-player>    min:  6.3   max: 25.7   avg: 20.3
 cpu-ogles-drv> min:  0.2   max:  5.1   avg:  0.3
 cpu-present>   min:  0.3   max: 17.0   avg:  0.8
 frametime>     min: 15.2   max: 26.2   avg: 21.5
 draw-call #>   min:   2    max:   2    avg:   2     | batched:     0
 tris #>        min:    18  max:    18  avg:    18   | batched:     0
 verts #>       min:    40  max:    40  avg:    40   | batched:     0

Here is the script attached to my one game object to display FPS.

 using UnityEngine;
 using System.Collections;
 
 public class DebugHUD : MonoBehaviour
 {
     public static DebugHUD debugHUD;
     public bool debugOn = true;
     public float updateInterval = 0.5f;
     private int frames = 0;
     private float duration = 0;
     
     // Singleton
     void Awake ()
     {
         if (debugHUD == null) {
             DontDestroyOnLoad (gameObject);
             debugHUD = this;
         } else if (debugHUD != this) {
             Destroy (gameObject);
         }
         
         if (!Debug.isDebugBuild)
             debugOn = false;
         
         if (guiText) {
             guiText.fontSize = (int)(Screen.width * 0.05f);
             if (debugOn)
                 StartCoroutine (UpdateFPS ());
             else
                 guiText.enabled = false;
         } else {
             Debug.LogWarning ("Please attach GUIText component to game object");
         }
     }
     
     void Update ()
     {
         ++frames;
         duration += Time.deltaTime;
     }
     
     // Display FPS data
     IEnumerator UpdateFPS ()
     {
         float fps = 0;
         string format;
         // Cache reference to components
         GUIText FPStext = guiText;
         Material material = FPStext.material;
         
         while (true) {
             duration = 0;
             frames = 0;
             yield return new WaitForSeconds (updateInterval);
             
             // Only do division once
             duration = 1 / duration;
             
             // Only update if FPS changes
             if (fps - (frames * duration) < 0.01 && fps - (frames * duration) > -0.01) {
                 continue;
             }
             
             fps = frames * duration;
             format = System.String.Format ("{0:F2} FPS", fps);
             FPStext.text = format;
             if (fps < 30)
                 material.color = Color.yellow;
             else if (fps < 10)
                 material.color = Color.red;
             else
                 material.color = Color.green;
         }
     }
 }

The internal profiler says around 45fps and that's what my script displays. Does this mean that I won't be able to get my fps any higher than this on this device? It's kind of disheartening that I have made probably the most efficient possible app and it only gets 45 fps.