Auric Pacific's Q2 profit down 96.3% on impairment loss

Singapore

FOOD supplier Auric Pacific on Tuesday reported a 96.3 per cent drop in net profit to S$45,000 for its second quarter ended June 30, 2016, from S$1.2 million a year ago.

This was mostly due to an impairment loss on unquoted investment funds of about S$5.6 million. Otherwise, its various business segments mostly reported higher operating profits, it said.