Other income dropped to US$0.1 million in 2Q18 from US$0.4 million in 2Q17, substantially because the deposit for the acquisition of Thai General Nice Coal and Coke Co., Ltd. was converted into equity in 4Q17, while interest income on the deposit was no longer applicable.
SINGAPORE (Feb 12): New Silkroutes Group is back in the black ater closing 2Q18 with earnings of US$87,000 ($0.1 million) compared to a loss of US$0.3 million a year ago, which the group says marks its first quarterly net profit in more than three years.
This was largely due to a 50% surge in revenue over the quarter to US$185.5 million from US$123.8 million, mainly attributable to increased oil trades in addition to revenue contributed by the group’s newly-acquired healthcare subsidiaries.
