Qian Hu net profit dips 2.8% in Q1

ORNAMENTAL fish service provider Qian Hu Corp has posted a 2.8 per cent dip in net profit in the first quarter to S$35,000.

Revenue in the three months to March 31 was S$21.6 million, flat from the same period a year ago.

Although Qian Hu saw a positive contribution from its new edible fish business in the Hainan Province, this was offset by keen competition faced by its plastics business, it said.

Earnings per share was 0.03 Singapore cent, unchanged from the same period a year earlier.

Net asset value per share was 45.14 Singapore cents as at March 31, from 45.48 Singapore cents as at Dec 31 last year.

Qian Hu said it will continue to explore all options to seek an exit from the Singapore Exchange's minimum trading price watch-list within 36 months from June 5, 2017.

Qian Hu shares closed unchanged at S$0.191 on Monday.