Revenue for 1Q fell 6.4% to $35 million from $37.4 million in 1Q17 due to lower sales the Integral Cement and Ready-Mix Concrete business as well as our Specialty Polymer business when the plant in Singapore was largely transferred to a joint venture in China.
SINGAPORE (May 9): Engro Corp returned to profitability in 1Q18 with earnings of $0.3 million compared to losses of $1.3 million the previous year.
The group says this is due to higher selling prices and lower material costs, together with higher valuations for Engro’s investments in venture capital (VC) funds.
