Synagie Records Strong Growth For 1H2019
- 1H2019 Revenue increased 31.0% Y-O-Y to S$9.0 million
- Gross Profit jumped by 42.3% Y-O-Y with improved gross profit margin of 28.1%
- Crossed a key milestone as its business in Malaysia achieved EBITA breakeven in
Synagie Corporation Ltd. (SGX: V2Y) (“Synagie”, “思腾控股有限公司”, the “Company”, or the “Group”), Southeast Asia’s leading e-commerce enabler that assists brands to execute their e-Commerce strategies using its cloud-based platform, today announced its consolidated financial results for its half year ended 30 June 2019 (1H2019).
Annotating on the Group’s 1H2019 results, Executive Director and Chief Executive Officer of Synagie, Mr Clement Lee said, “The first half of 2019 was an exciting period. We are encouraged by the continued momentum where we saw strong growth across all our businesses segments. Our team also successfully inked key deals and partnerships with Singapore Post, Weimob Inc and Malaysia Digital Economy Corporation, to provide our integrated e-Commerce solutions to help SMEs in Southeast Asia digitise and sell their products to online markets in China and across the region. This anchors the foundation for our new cross-border strategy which we expect to roll out during the second half of the year.”