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IPS Securex 2Q earnings drop 60.6% to $0.53 mil

Samantha Chiew
Samantha Chiew2/9/2018 07:20 PM GMT+08  • 2 min read
IPS Securex 2Q earnings drop 60.6% to $0.53 mil
SINGAPORE (Feb 9): IPS Securex announced that its 2Q18 earnings dropped 60.6% to $0.53 million, compared to $1.34 million in 2Q17.
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SINGAPORE (Feb 9): IPS Securex announced that its 2Q18 earnings dropped 60.6% to $0.53 million, compared to $1.34 million in 2Q17.

Revenue was 51.6% lower at $2.63 million from $5.44 million last year, mainly attributed to a decrease in revenue from the group’s security solutions business. But partially offset by an increase in revenue from the group’s maintenance and leasing business.

Cost of sales also dropped 52% to $1.29 million from $2.68 million a year ago, due to the net decrease in direct material costs incurred, in line with the decrease in revenue.

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