Micro Mechanics full-year profit slips 1.1% on forex translation
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FOREX translation dampened results for Micro Mechanics Holdings, which makes high precision tools for the semiconductor industry, in its full financial year.
Net profit dipped 1.1 per cent to S$11.9 million from the year-ago period, the group said in a Singapore Exchange filing on Monday evening.
For the 12 months ended June 30, 2016, revenue slipped 1.8 per cent to S$51.3 million from the preceding year. The decrease in revenue was due to the translational impact of the depreciation of the yuan and ringgit, it said.
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