Hi-P turns around with S$8.4m Q1 profit despite revenue fall

Singapore

MANUFACTURER of consumer electronics Hi-P International has reversed from a S$12.4 million net loss a year ago to register a net profit of S$8.4 million for the three months ended March 31, 2017.

This comes even as it saw an 11.4 per cent drop in revenue to S$244.2 million.