Sin Heng Heavy posts 21.4% fall in Q4 profit

SIN Heng Heavy Machinery on Thursday posted a 21.4 per cent decline in net profit for the fiscal fourth quarter ended June 30, 2014 to S$3.43 million.

Turnover decreased 4.7 per cent to S$58.98 million as revenue from its equipment rental business fell 6.1 per cent to S$12.79 million mainly due to completion of several major projects and before the start of new projects. Revenue from its trading business also fell 4.2 per cent to S$46.19 million in the reporting quarter.

Earnings per share were 0.61 Singapore cents compared to 0.95 Singapore cents a year ago.