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AsiaPhos sinks into the red in 1Q on lower margins

Michelle Zhu
Michelle Zhu4/26/2018 09:40 PM GMT+08  • 2 min read
AsiaPhos sinks into the red in 1Q on lower margins
SINGAPORE (Apr 26): AsiaPhos has reversed into the red in 1Q18 with a loss of $0.7 million for 1Q18 compared with earnings of $0.1 million a year ago on lower margins.
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SINGAPORE (Apr 26): AsiaPhos has reversed into the red in 1Q18 with a loss of $0.7 million for 1Q18 compared with earnings of $0.1 million a year ago on lower margins.

As AsiaPhos is currently engaged in a legal dispute with China’s Sichuan provincial government regarding its mining operations there, the results of the group’s upstream segment have been reclassified under discontinued operations.

Group revenue for continuing operations fell 5% to $9.5 million from $10 million in 1Q17 due to a lower quantity of P4 sold as customers were affected by pollution controls, according to AsiaPhos in its filing on Thursday.

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