The reversal is mainly attributed to a net profit of $6.1 million from discontinued operations. This was supported by rental income on the lease of its P4 plant, recognition of the deferred income relating to a government grant received in the past for the construction of the P4 plant, and a write-back of the provision for impairment of the P4 plant.
AsiaPhos (SGX:5WV
) has reported earnings of $1.9 million for the FY2023 ended Dec 31, 2023, reversing its loss of $2.5 million in FY2022.
Revenue for the full-year was 30% lower y-o-y at $1.7 million while cost of sales also decreased 28% y-o-y to $1.4 million.
