Tiong Woon fiscal Q1 net profit falls 24%
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
ENGINEERING and marine transportation firm Tiong Woon Corporation on Wednesday said net profit for its first fiscal quarter fell 24 per cent, dragged by lower sales.
Net profit for the three months ended September 30, 2014, stood at S$3.47 million, compared to S$4.58 million a year ago.
Sales fell 17 per cent to S$36.8 million, hit by weaker revenue across all its business divisions. Turnover from its heavy lift and haulage segment, its biggest division, fell 10 per cent to S$32.8 million, mainly due to fewer heavy lift and installation projects in the Asia-Pacific.
Copyright SPH Media. All rights reserved.
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
