Miyoshi swings into profit with Q3 net profit of S$408,000

ENGINEERING group Miyoshi Limited posted a third-quarter net profit of S$408,000, a reversal from a net loss of S$366,000 in the previous year, the group said in a Singapore Exchange filing on Monday morning.

For the three months ended May 31, revenue rose 11.1 per cent to S$12.9 million from the previous year. The increase in revenue was due partly to more orders from automotive and data storage customers, it said.

Earnings per share came in at 0.09 Singapore cent, a reversal from a loss per share of 0.08 Singapore cent in the year-ago period. Net asset value per share edged up to 11.91 Singapore cents as at May 31, from 11.86 Singapore cents nine months ago.

Miyoshi Limited shares closed S$0.002 or 2.941 per cent higher at S$0.07 last Friday.