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Hupsteel swings back to profitability in 3Q

Jude Chan
Jude Chan • 1 min read
Hupsteel swings back to profitability in 3Q
SINGAPORE (May 5): Hupsteel has reversed out of the red in the third quarter ended March with earnings of $243,000, from a net loss of $372,000 a year ago.
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SINGAPORE (May 5): Hupsteel has reversed out of the red in the third quarter ended March with earnings of $243,000, from a net loss of $372,000 a year ago.

Revenue in 3Q dipped 4% to $11.5 million, compared to $12.0 million a year ago.

This was mainly due to the lower sale of steel products to the marine and oil & gas sectors due to the sustained global slump in demand.

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