A-Smart Holdings sinks into the red with Q3 net loss of S$128,000

PRINTING firm A-Smart Holdings sank into the red with a net loss of S$128,000 for its third quarter ended Apr 30, compared to a profit of S$39,000 a year ago.

Revenue fell 8.9 per cent to S$1.66 million, partly due to lower government grants and because the seasonal demand for Chinese New Year corresponded to the second quarter of this financial year but during the last financial year, it corresponded to the third quarter.

Loss per share for the quarter stood at 0.10 Singapore cent, compared to earnings per share of 0.03 cent previously.

The group said that the printing industry landscape "remains challenging" due to the advent of digital media, but it is hopeful that its continued expansion of client base and product range through the adoption of technological advances will stabilise its revenue base.

It added that the maiden property development project in Timor-Leste is taking shape, and that its associated company which opened its first Sheng Siong supermarket store late last year in Kunming, China, turned profitable this quarter.

The associated company is maintaining the strategy of gradually expanding the chain of supermarket stores, while promoting the "Sheng Siong" brand locally.

It will continue to leverage viable opportunities to diversify its revenue base in a sustainable manner and provide additional income streams to enhance its business performance, said the group.