MTQ Corp narrows Q1 loss by 6% despite fall in revenue
WEAKER activity in its oilfield and subsea divisions during the first quarter of financial year 2017 eroded MTQ Corporation's revenue, but improved efficiencies and lower costs helped it narrow its net loss by 6 per cent to S$2.18 million.
Revenue fell by 24 per cent for the three months ended June 30 to reach S$45.78 million. Revenue was at S$60.1 million in Q1 of FY2016.
Net loss narrowed, however. It was at S$2.18 million in Q1 FY2017, better than the S$2.33 million loss in the same period last year.
Loss per share weakened to 1.41 Singapore cents for Q1 FY2017 from 1.51 Singapore cents last year.
No dividend was declared.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts
TSMC estimates losses of US$92.4 million due to Taiwan earthquake
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom
US: Wall St opens higher as some chip stocks bounce back after selloff
Blackstone reports 1% rise in Q1 earnings
India’s Infosys misses fourth-quarter revenue estimates