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Miyoshi says 2Q earnings more than double to $0.56 mil on higher revenue, lower costs

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Miyoshi says 2Q earnings more than double to $0.56 mil on higher revenue, lower costs

Samantha Chiew Published on Fri, Apr 06, 2018 / 6:32 PM GMT+8

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SINGPORE (Apr 6): Miyoshi reported 2Q18 earnings more than doubled to $0.56 million from $0.17 million in 2Q17.

Revenue for the quarter was 5.4% higher at $12.8 million from $12.1 million a year ago, mainly due to more orders from automotive customers.

The group’s raw materials, consumables used and changes in inventories increased by 11.7% to $6.52 million compared to $5.84 million last year.

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