Thanks to increased revenue, stable expenses.
IPS Securex reported that its net profit for 1H16 jumped 10% YoY to $1m, thanks to increased revenue and broadly unchanged expenses.
The company’s revenue enjoyed a 20.5% boost to $7m as IPS Securex’s security solutions business as well as maintenance and leasing business posted revenue gains of $1m and $158,000 respectively.
Meanwhile, operating expenses stayed at a $18,000. Administrative expenses saw a marginal increase to $2.4m compared to 1H15’s $2.1m on back of raised directors’ and employees’ remuneration. The company also incurred office-related expenses as well as professional fees in its share split exercise and proposed acquisition of shareholding interests in Yatai Security & Communications.
Looking forward, IPS Securex believes that it is well-positioned to benefit from the skyrocketing security demand. The company stated that it will keep broadening its range of products and solutions while drumming up its Asia Pacific marketing efforts.
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