Secura’s 3Q earnings fall 61% to $0.4 mil

SINGAPORE (3 Nov): Secura posted a 60.9% fall in 3Q earnings to $369,000 from a year ago due to the increase in administrative expenses from the acquisition of the SSPL Group, and the decrease in government grants under the Wage Credit Scheme.

Revenue rose 69.8% spike to $9.05 million, thanks mainly to contribution of $2.66 million from newly acquired SSPL Group. Revenue of the SGPL Group increased by 19.9% to $6.4 million due mainly to more contracts won by its security guarding business with higher average selling prices as well as three-month revenue contribution from RSPL, a subsidiary of SGPL.

Secura expects the security guarding, cyber security, homeland security and security consultancy business to grow, as governments and corporates increase security investments. The new digital forensic business is also expected to contribute to the company’s growth, and the security printing business is also expected to be stable and contribute revenue to the group.

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