Sunningdale Tech posts 35.9% drop in profit for Q3

SUNNINGDALE Tech has reported a 35.9 per cent drop in net profit to S$10.2 million for the quarter ended Sept 30, 2016, from the S$15.9 million recorded the year before.

The integrated plastics solution provider saw its revenues slip 2.3 per cent year on year to S$172.5 million. It said that the decrease came from lower orders recorded by its healthcare and mould fabrication business segments.

Its earnings per share were down to 5.34 Singapore cents in the September 2016 quarter, from 8.39 Singapore cents the year before.

Looking ahead, Sunningdale Tech says it remains cautious with business conditions expected to remain challenging.