TPV Technology swings back to profit in Q3
A MORE efficient operating structure and a steep reduction in operating expenses gave a lift to TPV Technology's results for the third quarter.
Net profit for the three months ended Sept 30, 2016, was US$18.6 million, a reversal from a net loss of US$26.3 million in the year-ago period, the electronics company said in a Singapore Exchange filing on Thursday evening.
Revenue fell 11.7 per cent to US$2.47 billion from the previous year. Earnings per share came in at 0.79 US cent, a reversal from a loss per share of 1.12 US cents in the previous year.
TPV shares last traded at S$0.24 on Nov 10. The company is listed on both the Hong Kong and Singapore stock exchanges.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Huawei starts sales of new Pura 70 smartphone amid scrutiny on chips
Binance converts its billion-dollar ‘Safu’ emergency fund into USDC
BHP to decide on future of nickel business by August, trims met coal estimates
South Korea’s LG Electronics plans to raise up to US$1 billion with dollar bonds: sources
Apple CEO to meet Lawrence Wong to wrap whirlwind Asia tour
China reiterates need for steady yuan amid fragile confidence