BRC Asia reports 36% jump in Q1 net profit

BRC Asia reported on Thursday a 36 per cent increase in its quarterly net profit.

The Singapore-listed steel player said its net profit attributable to shareholders rose to S$2.6 million for its fiscal first quarter ended Dec 31, 2017, from S$1.9 million the year before.

Its revenue increased 26 per cent year-on-year to S$100.9 million, which BRC Asia said was due to higher unit selling prices.

Its earnings per share went up to 1.39 cents, from 1.02 cents.

BRC Asia shares finished two cents higher at S$1.38 on Thursday.