BRC Asia's full-year earnings swell on Lee Metal acquisition

Singapore

MAINBOARD-LISTED steel dealer BRC Asia saw its full-year net profit more than double to S$31.6 million, lifted by the completed acquisition of Lee Metal in July last year.

Revenue for the 12 months ended Sept 30, 2019 surged 61 per cent to S$913.3 million, from S$567 million a year ago. The higher revenue was also due to increased steel trading and distribution activities, said the group in a filing on Wednesday.