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UPP posts 3Q earnings of $3.4 mil on lower forex gains

Gwyneth Yeo
Gwyneth Yeo11/11/2016 05:50 PM GMT+08  • 1 min read
UPP posts 3Q earnings of $3.4 mil on lower forex gains
SINGAPORE (Nov 11): UPP Holdings posted earnings of $3.4 million for 3QFY16, a 35% drop from the earnings of $5.2 million in 3QFY15.
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SINGAPORE (Nov 11): UPP Holdings posted earnings of $3.4 million for 3QFY16, a 35% drop from the earnings of $5.2 million in 3QFY15.

This was due to a decrease in net other income from a 73% decrease in foreign exchange gain to $1.9 million arising from the translation of US dollar denominated receivables and bank balances.

For the quarter to Sept, group revenue fell by 1% to $14.8 million.

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