Cost of sales decreased 3.9% to $11.4 million compared to $11.9 million last year, mainly due to lower material usage in 1Q18.
SINGAPORE (Nov 6): Hai Leck Holdings, the provider of engineering, procurement and construction (EPC) services, announced that 1Q18 earnings dropped 13.4% to $2.22 million from $2.56 million in 1Q17.
The group’s revenue for the first quarter ended September remained at $24.5 million from 1Q17, attributed to oil prices that remained low and impacted the down-stream in the oil and gas industries negatively. In general, oil majors are reducing their expenditure.
