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

PC Lee
PC Lee • 2 min read
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).
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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.

This was partially offset by an increase in the sale of acoustic hailing systems to customers in the rest of Southeast Asia, as well as the increase in demand for integrated security solutions in Singapore and Indochina in aggregate of $5.8 million.

The decrease in revenue for the group’s Maintenance and Leasing Business was mainly due to the absence in of consultancy fees for the design of an airport security product and fees earned for the provision of ad-hoc maintenance support services to a customer in Singapore.

IPS Securex says the increasing frequency of terrorism globally and in the Asia Pacific, coupled with continued concerns about general security, are factors that will propel the demand for its security products and integrated security solutions.

The group says it will continue to acquire and develop innovative security products and solutions to keep ahead of today’s rapidly changing security challenges.

Shares of IPS Securex closed 1.9% lower at 16 cents.

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