Group revenue grew 56.7% to US$31 million from US$19.8 million in 1Q17 as manufacturing revenue more than doubled to US$30.2 million from US$13.4 million previously, with increased contributions from the group’s manufacturing plants in Indonesia and Singapore.
SINGAPORE (May 7): United Global, the Singapore-based lubricant manufacturer and trader, posted a 32.9% rise in 1Q18 earnings to US$2.2 million ($2.9 million) from US$1.7 million a year ago on higher revenue due to a surge in contributions from its manufacturing segment.
The latest quarterly results translate to earnings per share (EPS) of 0.7 US cent, up 16.7% from that of 1Q17.
