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Aspial Corp's net profit plunges 80%

Monday, March 21, 2016 - 20:19

HURT by weaker revenues and lower other income, Aspial Corporation's profits shrank 80 per cent to S$8.6 million in 2015.

This translates to earnings of 0.46 cents per share, down from 2.41 cents in 2014.

Revenue fell from S$510.1 million to S$464.1 million. This caused the firm to fall into an operating loss, which was further eroded by other income plunging from S$33.8 million in 2014 to S$4.5 million in 2015.

The counter closed trading unchanged at 27.5 Singapore cents on Monday, before the announcement of its results.

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