The higher revenue was however partially offset by higher marketing & distribution as well as administrative expenses, which grew 22% and 10% respectively to US$269,000 and US$1.7 million, as well as the recognition of foreign exchange loss.
SINGAPORE (Oct 15): Nico Steel Holdings, the specialist in ferrous and non-ferrous metal alloys, reported a higher y-o-y profit of US$121,000 ($166,833) for 1H19 compared to the US$1,000 in 1H18 on double-digit revenue growth.
Revenue for the half-year ended Aug 2018 rose 31% to US$8 million from US$6.1 million a year ago, mainly due to the increase in production and sales of Nico brand metal alloy materials which command higher gross profit margin.
