SINGAPORE (Oct 15): Nico Steel Holdings, the specialist in ferrous and non-ferrous metal alloys, reported a higher y-o-y profit of US$121,000 ($166,833) for 1H19 compared to the US$1,000 in 1H18 on double-digit revenue growth.

Revenue for the half-year ended Aug 2018 rose 31% to US$8 million from US$6.1 million a year ago, mainly due to the increase in production and sales of Nico brand metal alloy materials which command higher gross profit margin.

The higher revenue was however partially offset by higher marketing & distribution as well as administrative expenses, which grew 22% and 10% respectively to US$269,000 and US$1.7 million, as well as the recognition of foreign exchange loss.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook