GEOTECHNICAL engineering firm CSC Holdings sank further into the red, with losses deepening 20.6 per cent to S$6.9 million for the fourth quarter ended March, the company announced on Thursday.
This was partly due to a provision for loss of S$1 million on a project with cost overruns arising from stricter regulatory requirements and unforeseen difficult ground conditions. Meanwhile, revenue for the quarter dipped 0.9 per cent year-on-year to S$74.7 million. For the full year, CSC's losses widened 34 per cent to S$18 million on the back of a 4.6 per cent drop in revenue to S$323.1 million. Topline for the year was hit by reduced work activity, due to delays in the commencement of new projects.
The company has taken on more debt in the year, with total borrowings growing to S$102.7 million as at end-March from S$80.4 million a year ago, due to an increase in short-term borrowings to fund business operations.The company has cash holdings of S$7.2 million as at end-March. CSC's debt-to-equity ratio stands at 0.72.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SATS Q4 profit falls 23.7% to S$49.9m on absence of one-off gainsFOURTH-QUARTER net profit for ground handler and in-flight catering services provider, SATS dropped 23.7 per cent to S$49.9 million, from S$65.4 million a year ago, mainly due to the absence of one-off gains, the company announced on Friday morning before the market opened. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
SIA's Q4 earnings down 28%, full-year gain slumps 47%; airline sees fuel costs headwindsSINGAPORE Airlines capped fiscal 2019 with a 28 per cent fall in fourth-quarter bottom line earnings to S$202.6 million from S$281 million a year ago, on the back of lower operating profit and higher non-operating costs related to SilkAir's refleeting and restructuring. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Jasper deepens net losses in FY19 due to delay in China infrastructure projectsJASPER Investments on Saturday reported deepened net losses of US$664,000 for its 12 months ended March 31, 2019, from a US$25,000 net loss a year ago. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
SingHaiyi posts 47.6% rise in Q4 net profit to S$9.74mREAL estate group SingHaiyi on Wednesday announced that Q4FY19 net profit rose 47.6 per cent year-on-year to S$9.74 million. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Neo Group reports higher Q4, full-year net profitCATERER Neo Group on Wednesday reported a net profit of S$3.92 million for the fourth quarter ended March 31, up nearly 43 per cent from the corresponding quarter a year ago as it reported higher revenue. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Yorkshine sinks into the red for Q3 with US$989,000 lossYORKSHINE has sunk into the red with a third-quarter net loss of US$989,000 for the three months ended Jan 31, 2019, from a net profit of US$8.2 million a year ago. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »