Cogent's Q3 profit up 13% to S$7.8m

LOGISTICS firm Cogent Holdings' net profit for the third quarter ended Sept 30, 2016, was at S$7.8 million, up 13 per cent from S$6.9 million a year ago.

Revenue rose 4 per cent to S$34.1 million, from S$32.8 million a year ago. Improvements were driven across most segments.

"The group continues to be cautiously optimistic against a backdrop of increasing uncertainties and volatility in the global economic and geopolitical landscape," Cogent said.

It added that its Jurong Island Chemical Logistics Facility development was officially handed over to subsidiary Cogent Jurong Island Pte Ltd on Oct 13, 2016. "This paves the way for us to begin working with the various consultants and authorities in respect of Phase 1 of the building project."

Cogent traded unchanged at S$0.695 a share before results were out.