CWT's Q1 profit down 16% to S$29.2m
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Prisca Ang
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Singapore
LOGISTICS, commodity and engineering group CWT Ltd's first-quarter net profit dipped 16 per cent to S$29.2 million, due to a slowdown in trade services, translation losses on euro-dollar denominated inter-company loan to a subsidiary, as well as start-up costs of new logistic hubs.
This came on the back of revenue plunging 59 per cent to S$1.87 billion due to lower commodity trading volume and a significant fall in commodity prices.
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