Straits Trading returns to the black in Q1

STRAITS Trading Co swung to a net profit of $5.9 million for the first quarter from a loss of $0.3 million a year ago. It attributed the improvement mainly to higher profits from its resources operations and earnings from its associates.

This was despite revenue at the real estate, hospitality and mining group for the three months ended March 31 slipping 7.7 per cent to $170.3 million from $184.5 million.

Earnings per share rose to 1.4 cents per share from a loss of 0.1 cent.