Aztech Group's Q2 profit drops 45%

SINGAPORE - Mainboard-listed Aztech Group announced a drop of 44.7 per cent in net profit to S$1 million in the second quarter ended June 30, 2015, over lower margins from its marine and material supply segments.

Net revenue dropped 3.7 per cent to S$84.0 million, the company said in a release on Monday.

Earnings for the first half declined 36.4 per cent to S$2.2 million compared with the same period in 2014. Revenue was down l 1.8 per cent to S$169.6 million.

Earnings per share for the second quarter fell 44.6 per cent to 2.06 cents while net asset value per share remained constant at S$1.78 per share from Dec 31 last year.

The group said it expects persistent strong headwinds from market uncertainty and currency volatility.

"Barring any adverse market development and subject to the materialisation of stronger orders for our LED Lighting products, the group is cautiously optimistic of its performance for the next reporting period and next 12 months," it said in a statement.