Hiap Tong's Fiscal H2 Attributable Profit Slumps on Higher Costs

MT Newswires05-30

Hiap Tong's (SGX:5PO) profit attributable to owners tumbled over 72% in the fiscal second half after higher administrative and finance costs offset a small rise in revenue, according to a Wednesday filing with the Singapore Exchange.

The hydraulic lifting services provider posted an attributable profit of SG$2.3 million, or SG$0.0072 per share, against the SG$8.3 million, or SG$0.0268 per share, recorded a year earlier.

Revenue for the six months ended March 31 grew 1.9% year over year to SG$49.1 million from SG$48.2 million, the filing said.

The board declared a final dividend of SG$0.01 per share for the reported period, with the payment and record dates to be announced at a later date, the filing said. The company paid SG$0.05 a year earlier.

Price (SGD): S$0.09, Change: S$, Percent Change: %

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