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Mun Siong swings back to profitability on improved margins

Stanislaus Jude Chan
Stanislaus Jude Chan11/7/2017 6:36 PM GMT+08  • 1 min read
Mun Siong swings back to profitability on improved margins
SINGAPORE (Nov 7): Mun Siong Engineering reversed out of the red in the 3Q ended September with earnings of $825,000, compared to a loss of $411,000 recorded a year ago.
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SINGAPORE (Nov 7): Mun Siong Engineering reversed out of the red in the 3Q ended September with earnings of $825,000, compared to a loss of $411,000 recorded a year ago.

The improved performance comes despite revenue falling 39.6% to $16.3 million during the quarter with a lower volume of project work completed.

However, the group saw its gross profit margin improve significantly to 8.7%, from 4.0% a year ago. As a result, cost of sales fell at a faster clip than the decrease in revenue, dropping 48.1% to $14.0 million.

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