Shinvest trims FY18 loss to S$182,000 on back of lower costs and expenses

PRECISION manufacturer Shinvest Holding narrowed its full-year loss to S$182,000 from a year-ago S$1.5 million deficit as it shrank its costs and expenses.

On a per-share basis, 0.609 Singapore cent of loss was attributable to shareholders for the 12 months ended Aug 31, from 5.15 Singapore cents a year ago. No dividends were declared.

The maker and supplier of precision components and electro-mechanical assemblies said revenue eased 0.4 per cent to S$53.3 million. The precision engineering segment, which contributed 68.9 per cent of revenue, experienced a 1.9 per cent decline in sales. Retail, original equipment manufacturing and export, however, saw revenue increase by 2.9 per cent.

Despite smaller sales, Shinvest cut other expenses by S$1.3 million, or more than 90 per cent, to S$115,000, helping to boost the bottom line.

Net asset value per share rose to 90.2 Singapore cents as at Aug 31, from 81.5 Singapore cents in a year ago.

Shinvest shares, which were last traded on Oct 26 closed at 50 Singapore cents on Monday.