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CSC Holdings in the red in Q4 FY15

ENGINEERING solutions provider CSC Holdings chalked up a net loss of S$9.03 million for the fourth quarter ended March 31, 2015, against a net profit of S$533,000 a year ago, due in part to impairment losses on plant and equipment.

This is against a 3.4 per cent rise year on year in revenue to S$115.03 million while loss per share came to 0.75 Singapore cent. In the corresponding quarter a year prior, earnings per share were 0.04 Singapore cent.

For the full year, CSC reported a net loss of S$16.7 million, sinking into the red from a profit of S$2.98 million. Revenue was lower by 12.2 per cent to S$427.93 million, reflecting the challenging operating environment, as demand from the private sector was weak following the implementation of property cooling measures. Public residential demand also eased considerably during the year, it added.

As at May 25, the group's order book stood at about S$210 million.

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