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A-Smart Holdings back in the black in Q2

SINGAPORE Exchange (SGX) mainboard-listed A-Smart Holdings managed to claw its way back into the black for the second quarter ended Jan 31, 2017.

The group turned in a net profit of S$27,000 compared with S$9 million net loss in the previous year, following the dumping of loss-making subsidiaries, despite a 7.8 per cent dip in revenue from the second quarter of 2016.

For the three months ended Jan 31, 2017, revenue dropped 4.7 per cent to S$2.11 million from S$2.215 million the year before.

A-Smart posted earnings per share of 0.024 Singapore cent, from loss per share of 9.2 Singapore cents in the previous year.

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Established in 1986, A-Smart provides a spectrum of integrated print solutions from pre-press processes to production systems as well as global distribution and delivery.

CEO Lim Huan Chiang said that the smart technologies business by the company "is expected to contribute positively to our overall group performance for the current financial year".

"Our smart technologies arm, which we expect to become a core segment of the group, has commenced sales and marketing in Singapore. As a start, the group is introducing a smart F&B (food and beverage) business solution here. . . Concurrently, we will review our core print business and transform our services to deliver leading edge customer experience," he added.