Sin Heng's Q3 profit plunges 52.3 per cent to S$3m

SIN Heng Heavy Machinery's net profit plunged 52.3 per cent to S$3 million for the third quarter ended March 31, 2015.

This came on the back of revenue dipping 27.2 per cent to S$39.1 million, largely due to a fall in revenue from its trading business.

The group's trading revenue decreased 33 per cent to S$28.7 million, mainly due to smaller tonnage equipment sold.

Earnings per share stood at 0.53 cent, while net asset value was 23.29 cents per ordinary share. No dividend has been proposed.

For the nine months ended March 31, net profit dipped 12.5 per cent to S$9.1 million on the back of revenue falling 13 per cent to S$134 million.

Sin Heng's counter closed at 16.4 cents on Wednesday, down 0.4 cent or 2.38 per cent.