You are here

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.

Your feedback is important to us

Tell us what you think. Email us at btuserfeedback@sph.com.sg

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

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes