Sale of unit, forex gains lift Tat Hong's Q2 profit

Singapore

CRANE rental company Tat Hong Holdings reported a net profit of S$11.5 million for its second quarter ended Sept 30, 2014, up 39 per cent from S$8.2 million a year ago.

However, the numbers included gains from the sale of its subsidiary Hup Hin Transport in July. This partly boosted other income to S$10.1 million, from S$2.9 million last year. Foreign exchange gains of S$4.5 million were also recorded for the quarter, compared to losses of S$6.6 million a year ago. Take these two factors out, and the numbers do not look as pretty, analysts said.