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Sinwa reports 19% rise in 3Q earnings to $1.7 mil on higher sales

PC Lee
PC Lee11/7/2017 06:57 PM GMT+08  • 1 min read
Sinwa reports 19% rise in 3Q earnings to $1.7 mil on higher sales
SINGAPORE (Nov 7): Sinwa, the provider of marine and offshore supplies and logistics, reported 3Q earnings rose 18.9% to $1.72 million from $1.4 million a year ago.
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SINGAPORE (Nov 7): Sinwa, the provider of marine and offshore supplies and logistics, reported 3Q earnings rose 18.9% to $1.72 million from $1.4 million a year ago.

Revenue rose 34.9% to $44.1 million to $32.7 million mainly led by higher sales from the marine and offshore supply business in Singapore and Thailand operations.

The group’s gross profit margin for the quarter was lower at 22.5% from 24.5% a year ago due to stiff market competition.

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