IPS Securex's FY16 earnings up just 0.5% to $2.3 mil

SINGAPORE (Aug 22): IPS Securex Holdings, the provider of security products and integrated security solutions, announced a 0.5% rise in earnings for the year ended June (FY16) to $2.26 million from $2.25 million a year ago (FY15).

Full-year revenue decreased by 18.5% to $12.76 million, with its Security Solutions Business and the Maintenance and Leasing Business recording revenue decreases of $2.5 million and $0.4 million respectively.

The decrease in revenue for the group’s Security Solutions Business was mainly due to a drop in the sale of acoustic hailing systems to customers in Indochina and lower demand for security solutions products by customers in the rest of Southeast Asia and Singapore in aggregate of $8.3 million.

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