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Metech calls for trading halt pending announcement

METECH International has called for a trading halt, pending the release of an announcement, it said on Friday just before the market opened.

The e-waste management company’s shares closed 6.6 per cent or 1.1 Singapore cent higher on Thursday at 17.7 cents. On Wednesday, its shares also closed 5.7 per cent higher to 16.6 cents, up 0.9 cent.

In May, the company was back in the black with a net profit of S$3.1 million, from a S$2.1 million net loss a year ago for the third quarter ended March 31, due to a rise in revenue from its supply chain management business after more resources were committed.

Earnings per share on continuing operations stood at 2.55 Singapore cents, from a loss per share of 3.41 cents. Revenue rose 48.9 per cent to S$24.2 million, from S$16.3 million a year ago.