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Chuan Hup full-year profit jumps 74% in absence of impairment loss

INVESTMENT company Chuan Hup Holdings on Monday reported a 74.3 per cent jump in net profit for its fiscal 2017, helped by higher revenue and the absence of an impairment loss from a year ago.

Net profit for the 12 months ended June 30, 2017 stood at US$17.9 million, up from US$10.3 million a year ago. Revenue rose 18.7 per cent to US$283 million.

In the year-ago period, the group reported an impairment loss of US$4.4 million on available-for-sale investments.