Tat Hong's Q2 profit down 53% at $8.2m

AN economic slowdown in its key market Australia, together with unrealised losses from a sharp depreciation of the Indonesian rupiah, conspired to bring crane supplier Tat Hong's net profit for its second quarter ended Sept 30 down to $8.2 million, 53 per cent lower from $17.3 million a year ago.

Revenue was down 14 per cent at $185.3 million.

"There was a drastic downturn in Australia in the first quarter, and while confidence has improved after Australian elections …