Hong Leong Asia still in the red with S$5.5m net loss for Q1
HONG Leong Asia is still in the red; posting a net loss of S$5.5 million for the first quarter. However, this was an improvement on the net loss of S$9.9 million in the corresponding period in the preceding year.
On a per-share basis, loss narrowed to 1.46 Singapore cents, from a loss per share of 2.64 Singapore cents in Q12017.
For the three months ended March 31, revenue fell 9.2 per cent from S$1.13 billion in the year-ago period to S$1.02 billion.
The slide in revenue was mainly due to revenue declines recorded by Yuchai , its Diesel Engines Unit, and Xinfei, its consumer products unit which were partially offset by revenue growth of Hong Leong Asia's building materials unit, it said.
Net asset value per share edged up to 165.13 Singapore cents as at March 31, from 164.74 Singapore cents three months ago.
Hong Leong Asia shares finished S$0.05 or 5.2 per cent up at S$1.02 on Friday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Lululemon to shutter Washington distribution center, lay off 128 employees
Wall Street bonus rules return to regulatory agenda in third try
Honda to invest US$808 million in Brazil by 2030
US: Nasdaq, S&P tumble as Netflix, chip stocks drag
Europe: L’Oreal gains cap third week of declines
Telegram messaging service to allow Tether stablecoin payments