Raffles Infrastructure back in the black
With its profit turnaround this year, the group plans to apply to the SGX to be dropped from the bourse's watch list
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RAFFLES Infrastructure Holdings, formerly known as China Fibretech, is back in the black, with a net profit of 32.6 million yuan (S$6.3 million) over 18 months. This is a reversal from a loss of 3.1 million yuan for the 12 months to Dec 31, 2017.
The watch-listed company announced in February that it was changing its financial year from Dec 31 to June 30; its latest financial statements therefore covered a period of 18 months from Jan 1, 2018 to June 30, 2019.
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