Despite lower revenue, gross profit for the first quarter ended September was 15% higher at $1.90 million from $1.66 million last year, partly due to lower material costs, lower allowance for inventory impairment as well as an improvement in the selling price of the products.
SINGAPORE (Nov 2): Sin Ghee Huat, the distributor for stainless steel products, announced that losses for 1Q18 widened by 20% to $470,000 compared to $391,000 in 1Q17.
Revenue declined by 6% to $7.29 million compared to $7.78 million last year as market demand continued to remain weak.
