Share of results of joint ventures swung to a loss of $161,000 from income of $512,000.
SINGAPORE (Feb 6): Magnus Energy, the oil & gas company which is seeking to diversify into biofuel production, reported 2Q losses narrowed to $0.9 million from $1.4 million a year ago.
Revenue fell 6.8% to $4.07 million from $4.37 million but cost of sales increases 1% to $3.46 million. Gross profit margin decreased to 15% in 2Q18 from 21.5% in 2Q17 mainly due to absent of revenue from wastewater segment which contributed higher profit margin.
