SINGAPORE (Apr 12): Secura Group has reversed out of the red in the first quarter following its corporate reorganising efforts to focus on strengthening its core businesses.
Earnings for 1Q18 ended March came in at $0.56 million compared to a loss of $0.26 million a year ago.
Revenue rose 8.8% to $10.4 million from $9.5 million mainly due to an increase in 26.4% increase in sales from the security guarding segment as a result of securing more contracts and increase in average selling price.
Sales from security printing, cyber security, homeland security and system integration segment all fell by between 10.6% to 13.0%.
Distribution and selling expenses decreased by 30.6% to $0.47 million mainly due to reduced staff cost.
Administrative expenses decreased by 35.1% to $1.15 million mainly due to the group’s efforts on cost control measures and streamlining of its business operations.
Other operating income increased by 13.6% or $0.05 million mainly due to increase in government wage grants as a result of an increase in number of qualifying employees.
Looking ahead, Secura has identified its training arm, which was established in 2017, to have potential for delivering good value and intends to nurture it to be another core business.
The group says it will also continue to explore suitable opportunities to expand its business organically and to leverage on its brand name to reach out to overseas markets.
Shares in Secura have from its Jan 2016 IPO price of 25 cents to close at an all-time low of 7.5 cents on Thursday.
