Sinostar PEC Q1 net profit more than doubles to 26.4m yuan
SINOSTAR PEC Holdings' net profit more than doubled to 26.4 million yuan (S$5.3 million) for its first quarter ended March 31, 2016 (Q117), up from 11.5 million yuan a year ago.
Revenue grew by 43 per cent from 329.2 million yuan last year to nearly 472 million yuan, boosted by a 62.5 per cent growth in the sale of propylene from 55.8 million yuan in Q116 to 90.7 million yuan in Q117.
Earnings per share came up to 4.13 cents, versus 1.79 cents in the previous year.
The group's free cash flow increased to 533.3 million yuan in Q117, up from 476.1 million yuan in Q116, mainly due to "cash generated from operating activities".
No dividends were declared by the mainboard-listed petrochemical company for this period.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly
HCA beats first-quarter profit estimates on higher patient admissions
F&B operator YKGI to exclusively operate Chicha San Chen in Macau for next eight years