Gross profit, however, were 8.8% lower at $21.5 million from $23.6 million last year, mainly due to lower gross margins achieved from the oil and gas sector, resulting in group gross margins decreasing from 29.1% in 3Q16 to 25.1% in 3Q17.
SINGAPORE (Nov 8): CSE Global saw 3Q17 earnings drop 25% to $3 million compared to $4 million in 3Q16.
Revenue for the third quarter ended September increased by 5.7% to $85.6 million compared to $81.0 million in 3Q16, mainly attributed to 38.6% growth in revenues achieved for the Americas region, particularly in the oil and gas sector.
