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Aztech's Q2 profit falls 45% due to compressed margins

MAINBOARD-LISTED Aztech Group saw a near-45 per cent slide in net profit to S$1 million in the second quarter ended June 30, 2015, due to lower gross margin contribution from its marine and material supply segment.

Revenue was 3.7 per cent lower year on year at S$83.98 million, while earnings per share clocked 2.06 Singapore cents, down from 3.72 Singapore cents.

For the six-month period ended June 30, net profit was down 36.4 per cent to S$2.22 million, while revenue inched 1.8 per cent lower to S$169.57 million.

"The group expects persistent strong headwinds from market uncertainty and currency volatility," said Aztech. "Barring any adverse market development and subject to the materialisation of stronger orders for our LED Lighting products, the group is cautiously optimistic of its performance for the next reporting period and next 12 months."