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Ryobi Kiso reverses into the red in 3Q

PC Lee
PC Lee5/14/2018 09:35 PM GMT+08  • 2 min read
Ryobi Kiso reverses into the red in 3Q
SINGAPORE (May 14): Ryobi Kiso, the ground engineering solutions provider, swung to a loss of $6.7 million in 3Q18 from earnings of $0.3 million in 3Q17.
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SINGAPORE (May 14): Ryobi Kiso, the ground engineering solutions provider, swung to a loss of $6.7 million in 3Q18 from earnings of $0.3 million in 3Q17.

Revenue for the 3Q18 ended March came in at $28 million, a decrease of 29.5% from $39.7 million in 3Q17. This was due to lower value of work undertaken in the current period and prolong work phase of some projects.

Cost of sales decreased 24.2% to $25.8 million in 3Q18 in tandem with the decrease in business activities.

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