Qian Hu Q3 profit plummets 94.6% to S$5,000, even as revenue rises

QIAN Hu Corporation's fish and accessories business segments contributed far less in net profit for the third quarter, weighing down its results.

Net profit plummeted 94.6 per cent to S$5,000 from the previous year, the group said in a Singapore Exchange filing on Monday evening.

Qian Hu said that for its fish business segment - whose profit sank 48.4 per cent to S$164,000 - the slump was the result of a difference in sales mix.

Still, revenue for the three months ended Sept 30, 2016, jumped 10.1 per cent to S$19.6 million from the previous year.

Qian Hu said all of its business segments registered an increase in revenue contribution.

Q3 earnings per share dropped to 0.01 Singapore cent from 0.08 Singapore cent in the previous year.

Net asset value per share was flat at 44.31 Singapore cents as at Sept 30, from 44.31 Singapore cents as at nine months ago.

Qian Hu shares closed 4.44 per cent or 0.4 of a Singapore cent lower on Monday at 8.6 Singapore cents per share.