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Ryobi Kiso swings back to profitability in 2Q17

PC Lee
PC Lee2/10/2017 06:16 PM GMT+08  • 1 min read
Ryobi Kiso swings back to profitability in 2Q17
SINGAPORE (Feb 10): Ryobi Kiso has swung back into the black in 2Q17 with earnings of $435,000 from a loss of $7.94 million in 2Q16 when it recorded a one-off unrecoverable progress claim written off of $7.4 million.
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SINGAPORE (Feb 10): Ryobi Kiso has swung back into the black in 2Q17 with earnings of $435,000 from a loss of $7.94 million in 2Q16 when it recorded a one-off unrecoverable progress claim written off of $7.4 million.

The group also reversed to earnings of $607,000 in 1H17 from a loss of $7.8 million in 1H16.

Revenue for the three months ended Dec fell 37.6% to $33.8 million. The revenue contribution from the group’s bored piling operations decreased by 56.2% to $14.1 million in 2Q17. Revenue contribution from its eco-friendly piling, geoservices and other
operations decreased 6.8% to $19.3 million mainly due to lower value of work undertaken.

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