The reversal to profitability was brought about by higher other income, which rose to $12.4 million in the 2HFY2022 from $173,000, and US$12.5 million in the FY2022 from $334,000 in the FY2021. The surge in other income was mainly due to the gain from the completion of the disposal of the group’s subsidiaries, Matex Chemicals (MCT) and Amly Chemicals (ACL), in 2HFY2022.
Dye maker Matex International (SGX:M15
) has reported earnings of $9.6 million for the 2HFY2022 ended Dec 31, 2022, up from the loss of $2.7 million for the 2HFY2021.
This brings its group’s FY2022 earnings to $7.3 million, up from the loss of $4.9 million for the FY2021.
