Higher margins lift Qian Hu Q3 earnings
HIGHER margins for its fish exports and the stabilisation of plastics prices helped lift third-quarter earnings for ornamental fish retailer Qian Hu despite a drop in turnover.
Net profit for the three months to Sept 30 jumped 17.7 per cent from the previous year to S$93,000, the group said in a Singapore Exchange filing on Friday.
Revenue fell 12.8 per cent year on year to S$17.84 million, which the group said was due to "prolonged uncertainties" in the eurozone. It added that Q3 has traditionally been a "relatively low season" for its ornamental fish export business due to summer holidays in Europe.
Earnings per share rose slightly to 0.08 Singapore cent for Q3, up from 0.07 Singapore cent the previous year. Net asset value per share dipped to 44.47 Singapore cents as at Sept 30, from 44.97 Singapore cents as at Dec 31 last year.
Qian Hu shares fell S$0.003 to end at S$0.165 on Friday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Far East Hospitality Trust Q1 net property income rises 6% to S$25.1 million
Boeing gets a welcome respite with US$10 billion bond offering
Hong Kong vies with US in Bitcoin ETF market after crypto’s revival
Chevron CEO expects ExxonMobil arbitration resolved in coming months
Paramount replaces CEO with trio as it talks merger with Skydance
MicroStrategy posts loss on impairment charge, revenue declines