Revenue for the latest quarter fell 5.8% to US$24.5 million from US$26.1 million on lower contributions from the trading business segment, which registered lower sales volume due to the elimination of inter-group base oil and additives cross selling from the Singapore plant to PLI, following the consolidation of PLI’s accounts.
SINGAPORE (Aug 13): United Global reported earnings of US$0.9 million ($1.24 million) for the 2Q ended June, halving from its 2Q17 earnings of US$2 million on higher administrative expenses.
The latest quarter’s results brings the lubricant manufacturer and trader’s earnings for 1H18 to US$3.2 million, down 13.8% from US$3.6 million a year ago.
