Notably, revenue from the commercial and light industrial (refrigeration) segment grew by $0.7 million in 1H17 from the previous year, while the resident & commercial (air-conditioning) segment as well as the oil, marine and gas (refrigeration & air conditioning) segments both reported a decrease in revenue.
SINGAPORE (Aug 10): Far East Group, the refrigeration and air-conditioning business, announced half-year earnings of $0.25 million compared to its loss of $0.71 million a year ago on higher gross profit margin and higher other operating income.
Revenue for the half-year grew 0.8% to $17.2 million from $17.1 million a year ago due to an increase in sales from the group’s Malaysia, Indonesia and Myanmar markets. This was however partially offset by lower sales in Singapore and Hong Kong.
