One-off gains put Intraco in the black for FY2013
INTRACO, the pedigreed trading company on the Singapore Exchange (SGX) mainboard that has languished after the excitement of a 2012 takeover fight, swung to the black last year on one-off gains amid a business restructuring.
The company recorded a net profit of $1.1 million for the fiscal year ended Dec 31, 2013, compared with an $8.9 million loss a year earlier. Revenue fell 21 per cent to $128 million.
The company said yesterday that a joint venture it is in to operate a crane rental and distribution business in Myanmar is expected to start operating in May.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards