Aztech Group doubles Q2 profit to $662,000 on higher margin

IT-BASED Aztech Group has more than doubled its second quarter net profit to $662,000 from $306,000 in the same period last year.

This was despite a 26.2 per cent drop in revenue to $46.8 million for the three months to June 30.

The group posted higher gross profit margin of 13.5 per cent compared to 8.4 per cent in the previous corresponding period.

This improvement was observed across all business segments as a result of better product mix offering, improvement in productivity, higher operational efficiency and better sourcing strategy.

Earnings per share climbed to 0.13 cent from 0.06 cent previously while net asset value per share firmed to 16.27 cents compared to 15.86 cents as at Dec 31.

Aztech expects the trading environment for the next 12 months to remain challenging given the continuous volatility in currency and the uncertainty of the global economy.