Cost of sales however fell 11.8% to A$91.7 million as compared to AU$103.9 million in 3Q16, which more than offset the reduction in revenue.
SINGAPORE (May 12): AusGroup, the integrated solutions provider to the energy, industrial and mining sectors across Australia and Southeast Asia, posted earnings of A$3.3 million ($3.4 million) for the third quarter ended March 31 – reversing from its loss of A$24.1 million in the same quarter a year ago on lower costs.
The stronger bottomline comes in spite of group revenue having fallen 7.7% over the quarter to A$107.4 million from $116.4 million in the previous year, which was mainly due to reduced revenue contributions from the maintenance service business unit.
