SINGAPORE (Feb 25): The Straits Trading Company posted earnings of $29.7 million for 4QFY2019 ended December, more than double than earnings $14.1 million for the corresponding quarter last year. 

This lifted the group’s full-year earnings to $84.4 million, some 17.6% higher than earnings of $71.7 million reported in FY2018, representing the highest earnings recorded by the group since FY2014. 

Revenue for the quarter fell 33.1% y-o-y to $70.0 million from $104.7 million. This was primarily attributable to a 37.0% decline in revenue contributions from the group’s tin mining and smelting segment to $59.8 million due to the due to lower average tin prices, as well as lower sales quantity of refined tin. 

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