SINGAPORE (May 7): Steel trader and property developer LTC Corporation reported a 3Q18 loss of $0.15 million compared to $1.9 million in earnings a year ago on lower margins.
Revenue for the quarter fell 2.7% to $27 million from $27.7 million previously due to lower turnover for steel.
Steel turnover decreased by $0.8 million to $25.1 million in 3Q18 from $25.9 million due to lower turnover in both Malaysia and Singapore. Net operating profit for steel decreased by $0.9 million to $1.7 million from $2.6 million as there was a significantly higher surge in steel prices in 3Q17 a year ago.
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