You are here
Tat Hong Q3 net profit down 63% to S$4.5m due to lack of S$13m one-off gain
CRANE supplier Tat Hong Holdings reported a net profit of S$4.5 million for its third quarter ended Dec 31, 2014, down 63 per cent from S$12.1 million a year ago.
Revenue fell 7 per cent to S$154.9 million from S$167.4 million a year ago.
Lower profit was due to the lack of a one-off S$13 million gain from the disposal of purchase rights for a plot of Iskandar Malaysia land.
With the exception of the China tower crane division, all of Tat Hong's divisions recorded revenue declines in the quarter compared to a year ago.
Tat Hong closed trading unchanged at S$0.73 before results were out.