Yongnam Q3 loss deepens to S$8.4m

YONGNAM Holdings has deepened its net losses to S$8.4 million in its third quarter ended Sept 30, 2014, from net losses of S$3.4 million a year ago.

The engineering and construction services provider's revenue also about halved to S$47.3 million.

It attributed the fall in revenue to the completion of the Marina Coastal Expressway contracts at the end of FY2013, and the Singapore Sports Hub at the end of Q1 FY2014.

Explaining its losses, it said: "Fewer projects with lower margins in the review quarter mean there were lower fabrication and erection activities to absorb the fixed production and overhead costs."

Its counter ended unchanged at S$0.205 on the stock market.