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Tat Hong narrows Q4 loss to S$29.2m on sharp cut in other operating expenses
Crane supplier Tat Hong Holdings narrowed its fourth-quarter loss to S$29.2 million, or 4.24 Singapore cents per share, as a sharp decline in other operating expenses offsets a revenue decline.
For the 12 months ended March 31, Tat Hong's net loss was a narrower S$38 million compared to FY16's S$39.3 million.
No dividend was declared.
Tat Hong's loss in the year-ago quarter was S$39.8 million, but that included S$40.9 million other operating expenses.
Other operating expenses shrank to S$7.1 million in the latest quarter, helping the bottom line to show a narrower loss even though revenue fell 13 per cent to S$110.2 million during the quarter.
Looking ahead, Tat Hong predicted challenging conditions for most of its key markets, although tower crane rentals in China are expected to be a bright spot.