Secura Group reverses into the red in 2Q on competition, damages and absence of one-off

SINGAPORE (Aug 1): Secura Group reversed into the red in the 2Q ended June as the security solutions provider reported a loss of $0.23 million compared to a profit of $0.59 million a year ago.

As forewarned by the group earlier, the loss was primarily due to price pressure from system integration projects, increase in liquidated damages for the security guarding segment due to shortage of manpower as well as the absence of one-off sales from the high margin digital forensic segment in 2Q18.