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Secura Group posts FY2018 net profit of S$1.87m

CATALIST-LISTED security provider Secura Group on Thursday reported a net profit for the 12 months to Dec 31, reversing the previous year's loss, with a lift from the absence of an impairment charge.

Earnings came in at S$1.87 million for the period, according to results released on Thursday, compared with a net loss of S$1.78 million the year before.

Revenue was steady, dipping 0.8 per cent to S$41.2 million. It had slipped on factors such as lower demand for printing products amid a nationwide paperless drive, which ate into the security printing segment, as well as lower cybersecurity revenue on a streamlining in products and services.

These drops were partly offset by growth in security guard contracts and sales of homeland security and digital forensic equipment, among others, Secura noted in its financial statements.

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Earnings per share was at 0.47 Singapore cent, against an earlier loss per share of 0.45 Singapore cent.

"While our security printing business continues to be impacted by the national drive for digital transformation, barring unforeseen circumstances, we expect the performance of cybersecurity, homeland security, system integration, security consultancy and others to remain stable or improve," said Secura in its outlook statement, singling out growing demand for cybersecurity offerings.

"We also expect demand for digital forensic equipment, real-time surveillance systems and data information gadgets as more law enforcement agencies deploy these as essential tools to increase their productivity and effectiveness."

It added that it expects to grow its security guard business and will continue to invest in staff training.

The board recommended a final dividend of 0.3 Singapore cent a share, after no payout the year prior.