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Sunningdale Tech Q1 profit almost halved

SUNNINGDALE Tech on Monday posted a nearly 50 per cent fall in net profit attributable to owners of the company to S$3.577 million for the first quarter ended March 31, 2016.

This compares to a net profit of S$7.052 million a year ago. Excluding foreign exchange gains and losses, net profit would have been S$6.8 million in Q1 2016 and S$5.9 million in Q1 2015, representing a 14.8 per cent year-on-year increase, said the mainboard-listed manufacturer of precision plastic components.

Revenue grew marginally by 4.4 per cent from S$154.5 million last year to S$161.3 million in Q1 2016, boosted by better performance in the automotive and mould fabrication segments, and partially offset by declines in the consumer and IT and healthcare segments.

Earnings per share fell from 3.80 Singapore cents a year ago to 1.92 Singapore cents for Q1 2016.

No dividend has been declared by the company.