Home Capital Results

Yongnam sinks into 1Q net loss of $1.5 mil on lower margins, overheads

PC Lee
PC Lee5/15/2017 06:12 PM GMT+08  • 2 min read
Yongnam sinks into 1Q net loss of $1.5 mil on lower margins, overheads
SINGAPORE (May 15): Yongnam Holdings, the structural steel supplier and engineer, sunk into a 1Q net loss of $1.5 million on lower margins and overhead costs not being fully absorbed given the group’s lower level of strutting and fabrication activities.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (May 15): Yongnam Holdings, the structural steel supplier and engineer, sunk into a 1Q net loss of $1.5 million on lower margins and overhead costs not being fully absorbed given the group’s lower level of strutting and fabrication activities.

Group revenue increased 24% to $91.5 million due mainly to higher contributions from the structural steelworks business.

Revenue contribution from structural steelworks surged 49.6% to $67.7 million in 1Q17, supported by key projects including Senoko Food Hub and Jewel Changi Airport. Revenue from the Specialist Civil Engineering unit stood at $19.7 million, unchanged from a year ago. Key revenue contributors during the review quarter included the Thomson Line in Singapore and Hong Kong MTR.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.