Tat Hong back in the black in Q3

CRANE operator Tat Hong Holdings managed to swing back into the black for the third quarter ended Dec 31, 2016.

It clawed its way to a net profit of S$221,000, from a net loss of S$6.7 million in the previous year, the group said in a Singapore Exchange filing on Tuesday.

For the three months ended Dec 31, 2016, revenue dropped 3 per cent to S$121.5 million from S$124.8 million the year before.

Tat Hong, the largest crane company in the Asia-Pacific, posted earnings per share of 0.04 Singapore cent, from loss per share of 1.06 Singapore cent in the previous year.