One-off gains put Intraco in the black for FY2013

INTRACO, the pedigreed trading company on the Singapore Exchange (SGX) mainboard that has languished after the excitement of a 2012 takeover fight, swung to the black last year on one-off gains amid a business restructuring.

The company recorded a net profit of $1.1 million for the fiscal year ended Dec 31, 2013, compared with an $8.9 million loss a year earlier. Revenue fell 21 per cent to $128 million.

The company said yesterday that a joint venture it is in to operate a crane rental and distribution business in Myanmar is expected to start operating in May.