NSL back in the black with H1 earnings of S$5.8m  

INDUSTRIAL group NSL posted earnings of S$5.8 million for the first half ended June, reversing a net loss of S$3.7 million in the year-ago period.

Earnings per share rose to S$0.0156 in H1, a turnaround from a loss per share of S$0.0098 in the previous year.

The improvement comes on the back of a 39-per-cent increase in group turnover to S$174.9 million, as revenue increased across all its business segments.

The increase was led by higher contribution from its Precast & Prefabricated Bathroom Unit (PBU) division, which climbed 45 per cent to S$137.5 million, as a result of improved selling price and higher project volume for precast operations in Malaysia and Dubai.

Earnings were also boosted by S$1.3 million in share of profit from an associated company in H1, compared to a share of loss of S$3.5 million in the same period last year.

Shares of NSL fell 2.4 per cent or S$0.02 to S$0.83 on Thursday (Aug 11), before the results were announced.