SINGAPORE (Feb 8): Lion Asiapac, the steel trader and manufacturer of lime, reversed out of the red in the 2Q ended December with earnings of $128,000, compared to a loss of $232,000 a year ago.
Revenue rose 55% to $3.0 million in 2Q18, from $1.9 million a year ago, on the back of increased demand for lime products.
As at end December, cash and cash equivalents stood at $70.7 million.
Looking ahead, the group says it will remain vigilant and prudent in the conduct of its business even as its operations continue to face challenging market conditions.
Shares of Lion Asiapac last closed at 48 cents on Wednesday.