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Shopper360 H1 earnings up 31% to RM4.6m

SHOPPER360'S first-half net profit rose 31 per cent to 4.61 million ringgit (S$1.5 million) as non-controlling interests and earnings from continuing operations both fell.

Earnings per share grew to 4.03 sen for the six months ended Nov 30, 2017, from 3.08 sen in the year-ago period, the marketing company announced. Net asset value per share rose to RM40.95 as at Nov 30, from RM37.90 six months earlier.

No dividend was declared for the period.

For the fiscal first half, revenue rose 6 per cent to 68.8 million ringgit from the preceding year. The gain in revenue was due partly to an increase in revenue contributions from existing and new customers in its in-store advertising and field force management segments, the group said.

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Excluding a 1.4 million ringgit year-ago loss from discontinued operations, Shopper360's first-half profit from continuing operations fell 21 per cent to 4.6 million ringgit as cost of sales grew 10 per cent and administrative expenses increased by 12 per cent.

The company, which listed in June 2017, also had non-controlling interests that laid claim to 0.92 million ringgit of attributable profit in the year-ago period; there were no non-controlling interests in the six months to November.

Looking ahead, Shopper360 said it was "cautiously optimistic" about performance for the year ending May 2018.

It highlighted a joint venture agreement entered into in November with Pahtama Group Co to provide marketing services in the retail and consumer goods industries in Myanmar.

In addition, Shopper360 also said that it expanded its digital marketing services in Singapore as a result of its appointment as the creative agency for Burger King Singapore.

Shopper360 shares closed at 27 Singapore cents on Friday, up 8 per cent or 2 Singapore cents, after the results were announced.