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Hupsteel swings back into the black in 1Q on one-off gain

PC Lee
PC Lee11/9/2017 06:55 PM GMT+08  • 1 min read
Hupsteel swings back into the black in 1Q on one-off gain
SINGAPORE (Nov 9): Hupsteel swung back into profitability in 1Q18 with earnings of $4.7 million from losses of $0.17 million in 1Q17 with the sale of the investment property.
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SINGAPORE (Nov 9): Hupsteel swung back into profitability in 1Q18 with earnings of $4.7 million from losses of $0.17 million in 1Q17 with the sale of the investment property.

Revenue rose 6% to $12.8 million. But the quarter saw other gains of $4.4 million compared to other losses of $0.1 million a year ago.

Gross profit margin was affected by stiff competition and higher costs due to stronger US dollar. This caused gross profit margin to slide slightly to 24.5% from 26.4% in 1Q17.

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