Gross profit margin was affected by stiff competition and higher costs due to stronger US dollar. This caused gross profit margin to slide slightly to 24.5% from 26.4% in 1Q17.
SINGAPORE (Nov 9): Hupsteel swung back into profitability in 1Q18 with earnings of $4.7 million from losses of $0.17 million in 1Q17 with the sale of the investment property.
Revenue rose 6% to $12.8 million. But the quarter saw other gains of $4.4 million compared to other losses of $0.1 million a year ago.
