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Hafary’s 4Q earnings fall 61.5% to $2.7 mil on lower revenue and higher costs

Michelle Zhu
Michelle Zhu2/17/2017 06:16 PM GMT+08  • 2 min read
Hafary’s 4Q earnings fall 61.5% to $2.7 mil on lower revenue and higher costs
SINGAPORE (Feb 17): Building material supplier Hafary Holdings has posted $2.7 million of earnings for 4Q16, a 61.5% decline from its earnings of $6.8 million in 4Q15 due to a combination of lower revenue and higher expenses.  
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SINGAPORE (Feb 17): Building material supplier Hafary Holdings has posted $2.7 million of earnings for 4Q16, a 61.5% decline from its earnings of $6.8 million in 4Q15 due to a combination of lower revenue and higher expenses.

Group revenue for the quarter was down 5.2% at $30.7 million from $32.4 million in the previous year, largely attributable to a 20.3% fall in revenue from the project segment by $3.3 million to $12.9 million, which more than offset the 10% growth in revenue from the group’s general segment.

Cost of sales fell by 7.4% from $19.8 million in 4Q15 to $18.3 million in the current quarter.

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