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Broadway Industrial sees higher Q2 profit, lifted by other income

BOOSTED in part by other income, Broadway Industrial Group posted a net profit of S$4.56 million for the second quarter ended June 30, up from S$301,000 a year ago.

Revenue slipped 12.3 per cent year on year to S$149.27 million due to its hard disk drive and foam plastics businesses.

Earnings per share worked out to 0.97 cent, up from 0.07 cent previously.

Other income was higher for the quarter under review due to unrealised mark-to-market fair-value gains on financial derivatives.

For the six-month period, net profit was S$5.7 million, up from S$508,000 previously, while revenue edged 1.7 per cent lower to S$317.43 million.