Corporate digest

Synagie

SYNAGIE Corporation has posted its first net profit since its August 2018 initial public offering, as a result of a surge in e-commerce activity during the Covid-19 pandemic. The company was S$4.1 million in the black for the half-year ended June 30, reversing from a loss of S$3.7 million a year ago.

Revenue increased 325.6 per cent to S$38.3 million, driven by the e-commerce segment, while gross profit jumped 411.9 per cent to S$12.9 million.