CosmoSteel swings back into black with S$1.2m net profit in Q3

COSMOSTEEL on Tuesday posted a net profit of S$1.2 million in the third quarter, reversing from a net loss of S$1.9 million in the same period a year earlier.

Revenue in the three months ended June 30 was S$24 million, an increase of 19.3 per cent. This was due mainly to higher revenue from customers in the trading sector, partly offset by a decrease in revenue from the energy sector. Gross profit margin increased by 4.4 percentage points to 21.8 per cent from the same period a year earlier.

Earnings per share was 0.42 Singapore cent, reversing from a loss per share of 0.65 Singapore cent in the third quarter last year.

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