Aspial sinks into the red for Q2

Aspial has sunk into the red for the second quarter ended June 30, with a net loss of S$6.34 million against a net profit of S$270,000 a year ago, due in part to higher materials and subcontract costs.

Revenue was 48 per cent higher at S$148.36 million, due mainly to higher revenue from its real estate and financial service businesses.

Loss per share came to 0.33 cent, against earnings per share of 0.01 cent previously.

For the first half, it racked up a net loss of S$3.34 million, against a net profit of S$2.53 million a year ago while revenue was 37 per cent higher at S$273.93 million.

Factors contributing to the loss included lower gross profits for the real estate and jewellery business, marketing expenses for real estate business and jewellery business and impairment for its investment securities.