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CSE Global's Q1 profit inches up 0.9%

TECHNOLOGIES company CSE Global's net profit for the first quarter ended March 31, 2015 held steady at S$7.6 million, compared to S$7.53 million in the year-ago period.

Revenues for the quarter grew 13.2 per cent to US$105.5 million, compared to S$93.2 million in the corresponding period last year, mainly due to higher revenues achieved in the Americas and EMEA (Europe, the Middle East and Africa) regions.

The group is optimistic of its prospects for FY2015, notwithstanding the challenging global economic outlook and low commodity prices. It believes that there are opportunities available in the market which it will work on to secure more orders, it said.

The group will also continue to support and service its existing installed base or customers (brownfield projects) as well as execute its outstanding order book, it added.

For the quarter ended March 31, 2015, earnings per share was 1.47 cents, while net asset value per share was 44.21 cents. No dividends were declared for the quarter.

On Monday, CSE Global's counter closed trading unchanged at S$0.57.