CWT Q3 earnings hit by S$6.3m net impairment loss from Tianjin blast

Singapore

CWT suffered a net impairment loss of S$6.3 million from the August explosions in Tianjin, resulting in its third-quarter profit falling 16 per cent.

The logistics and commodity broking company, which announced its results on Thursday after the market closed, posted a net profit for the three months ended September of S$27.2 million, or 4.54 Singapore cents per share, as revenue halved to S$1.93 billion. For the first nine months of 2015, net profit decreased 15 per cent to S$82.7 million as revenue fell 51 per cent to S$5.83 billion, the company said.