BlueStart plunges as profits dive

BlueStart SecuTech, a provider of digital video surveillance solutions in China, lost a third of its share price after pre-tax profits plunged 87 per cent in the year to the end of March.

BlueStart SecuTech, a provider of digital video surveillance solutions in China, lost a third of its share price after pre-tax profits plunged 87 per cent in the year to the end of March.

Profits declined from RMB 37m to RMB 5m after revenues fell 17% to RMB 176m (March 31: RMB 213m). The gross margin dropped from 53% to 51%, while the gross profit dropped 20% from RMB 113m to RMB 90m.

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