Higher margins lift Qian Hu Q3 earnings

HIGHER margins for its fish exports and the stabilisation of plastics prices helped lift third-quarter earnings for ornamental fish retailer Qian Hu despite a drop in turnover.

Net profit for the three months to Sept 30 jumped 17.7 per cent from the previous year to S$93,000, the group said in a Singapore Exchange filing on Friday.

Revenue fell 12.8 per cent year on year to S$17.84 million, which the group said was due to "prolonged uncertainties" in the eurozone. It added that Q3 has traditionally been a "relatively low season" for its ornamental fish export business due to summer holidays in Europe.

Earnings per share rose slightly to 0.08 Singapore cent for Q3, up from 0.07 Singapore cent the previous year. Net asset value per share dipped to 44.47 Singapore cents as at Sept 30, from 44.97 Singapore cents as at Dec 31 last year.

Qian Hu shares fell S$0.003 to end at S$0.165 on Friday.