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UPP sees 4Q earnings more than double to $5.5 mil

PC Lee
PC Lee2/24/2017 06:18 PM GMT+08  • 2 min read
UPP sees 4Q earnings more than double to $5.5 mil
SINGAPORE (Feb 24): UPP reported 4Q earnings more than doubled to $5.5 million from $2.2 million a year ago.
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SINGAPORE (Feb 24): UPP reported 4Q earnings more than doubled to $5.5 million from $2.2 million a year ago.

In 4Q, the group recorded 10% higher revenue at $16.3 million although gross profit fell 5% to $4.3 million. UPP said the contribution from the paper mill and power plant businesses “remained comparable” from a year ago.

Revenue from the paper mill business rose 12% to $13.1 million while gross profit margin for the quarter decreased to 16.8% from 20.1% mainly due to higher raw material cost.

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