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Sin Heng Heavy Machinery posts 40% decline in 2Q earnings to $1 mil on lower revenue

Michelle Zhu
Michelle Zhu2/9/2017 07:03 PM GMT+08  • 1 min read
Sin Heng Heavy Machinery posts 40% decline in 2Q earnings to $1 mil on lower revenue
SINGAPORE (Feb 2): Lifting service provider Sin Heng Heavy Machinery has announced $1 million in earnings for the quarter ended Dec 31, a 39.9% decline from the earnings of $1.8 million reported a year ago.
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SINGAPORE (Feb 2): Lifting service provider Sin Heng Heavy Machinery has announced $1 million in earnings for the quarter ended Dec 31, a 39.9% decline from the earnings of $1.8 million reported a year ago.

Total revenue for the quarter stood at $21 million, down 5.9% from $22.3 million in the previous year from a mix of higher rental revenue and lower trading revenue.

Specifically, while revenue from the equipment rental business grew by 18.4% to $11.3 million in the quarter as a result of an increase in fleet size being rented out, revenue from the trading business fell 23.9% to $9.7 million due to sales and delivery of smaller tonnage equipment during the period.

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