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Sapphire posts 3Q earnings of $3.6 mil; directors to step down for board renewal in share-swap deal

Michelle Zhu
Michelle Zhu11/13/2017 07:25 PM GMT+08  • 3 min read
Sapphire posts 3Q earnings of $3.6 mil; directors to step down for board renewal in share-swap deal
SINGAPORE (Nov 13): Sapphire Corporation, the railway infrastructure engineering firm, has announced earnings of RMB17.6 million ($3.6 million) for the 3Q ended Sept, a 31.1% improvement from RMB13.4 million a year ago on higher revenue.
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SINGAPORE (Nov 13): Sapphire Corporation, the railway infrastructure engineering firm, has announced earnings of RMB17.6 million ($3.6 million) for the 3Q ended Sept, a 31.1% improvement from RMB13.4 million a year ago on higher revenue.

Revenue for the quarter grew 22.6% to RMB369.5 million from RMB301.4 million previously on the completion of its subsidiary Ranken Infrastructure Limited’s site preparation works and commencement of the construction phase of several recently secured projects, in addition to a higher number of ongoing projects in China.

As such, gross profit grew 34% to RMB53 million while gross profit margin was 14.4% compared to 13.1% in 3Q16.

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