, Singapore

Xpress Holdings hit with $190,000 net loss in Q1

Due to its weak printing business.

Xpress Holdings reported a net loss of $190,000 in the first quarter of its financial year, on back of a 34% year-on-year drop in revenue that saw its top line drop to just $2.0m.

During the quarter, the group’s printing revenue dropped 21.7% to $0.52 million, mainly due to lower revenue contribution from its local and overseas operations.

“The intense competition amidst a shrinking market has continued in the Singapore and China markets. At the same time, new technologies from the digital print segment replaced a significant portion of the demand in the traditional offset printing segment,” Xpress Holdings said in its financial statement.  

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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