Fu Yu swings into the black with Q1 profit of S$4m

FU YU Corp earned a net profit of S$4.0 million for the first quarter ended March compared to a net loss of S$1.4 million a year ago.

Revenue slipped 2.3 per cent to S$58.1 million from S$59.5 million due to a reduction of orders from the contract manufacturing business in Malaysia.

This was however partially offset by a marginal revenue increase in the China and Singapore segments.

It posted an earnings per share of 0.54 Singapore cent compared to a loss per share of 0.19 Singapore cent before. No dividend was recommended.