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XMH Holdings posts S$2.13m loss for Q4

DIESEL engine and power generating solution provider XMH Holdings Ltd reported on Tuesday a S$2.13 million net loss for Q4 2017, with earnings per share falling to 0.45 Singapore cent from 3.01 Singapore cents the year before.

Net loss attributable to owners of the company stood at S$1.1 million for the fiscal year ended April 30, 2017, with basic loss per share of 0.96 Singapore cent.

XMH said that excluding the one-off non-cash impairment on intangible assets of S$2.6 million, the group's net profit attributable to owners of the company would be S$1.6 million, with earnings per share of 1.4 Singapore cents.

Revenue for Q4 decreased by 18.1 per cent to S$26.1 million. Full-year revenue decreased by 16.8 per cent year on year to S$90.2 million due to a decrease in revenue recorded in the project and after-sales business segments, which were affected by the weak market sentiment and lower contract value awarded. XMH said that this was partially offset by the improved sales from the distribution business segment.

XMH closed trading at S$0.265 on Tuesday, down 2.5 Singapore cents, or 8.6 per cent.