CSE's Q2 profit down 35.5%

CSE Global yesterday said its net profit attributable to owners of the company fell 35.5 per cent year on year to S$8.03 million for the second quarter ended June 30. The technology firm said that profit from continuing operations rose 11.9 per cent to S$13.39 million before taxation. After tax, however, it fell 2.3 per cent to S$8.48 million.

Profit after tax and non-controlling interests from continuing operations fell 6 per cent to S$8.03 million.

CEO Lim Boon Kheng said: "The recovery in offshore projects in USA and the growth in sales activities in Australia has contributed to our performance in this quarter. Our gross profit margins remain steady and our cash and balance sheet position continues to be healthy."