Gross profit margin however fell to 8.8% from 14.4% a year ago, mainly due to higher costs of materials and lower margins from the sale of railway sleepers. As such, gross profit fell marginally to RMB26.9 million from RMB27 million in 1Q17.
SINGAPORE (May 11): Sapphire Corp announced earnings of RMB4.1 million ($0.9 million), up 1.9% from RMB4 million a year ago due to higher revenue.
Revenue for the quarter grew 62.4% to RMB303.6 million from RMB188.1 in 1Q17 due to a surge in ongoing projects in China for the group’s core revenue driver, Ranken Infrastructure, in addition to higher sales of railway sleepers over the quarter.
