XMH Holdings Q2 net profit down 64.9%

XMH Holdings, a diesel engine provider for the marine and industrial sectors, has posted net profit of S$711,000 for the second quarter ended Oct 31, 2014, down 64.9 per cent for the same year-ago period.

Revenue slipped 28.9 per cent to S$19.23 million. The company blamed the drop mainly on slower sales in the distribution business.

Earnings per share slipped to 0.16 Singapore cent from 0.48 cent for Q2 FY2014. Net asset value per share stood at 12.54 cents as at Oct 31, down from 13.53 cents as at April 30. On the stock market, the counter closed on Friday at 27 cents, down 1.5 cents. The company announced its results late Friday night.