MARKET DEVELOPMENT
Mewah's Q4 Profit Almost Triples on Higher Sales Volume, Better Average Selling Price
Mewah's Q4 Profit Almost Triples on Higher Sales Volume, Better Average Selling Price
28/02/2017 (Business Times) - Higher sales volume and improved average selling price lifted palm oil processor Mewah International's fourth-quarter results.
Net profit for the three months ended Dec 31, 2016, leapt 197.9 per cent to US$5.4 million from the previous year - more than triple the corresponding quarter last year but lower than US$10.5 million for the last quarter, the group said in a Singapore Exchange filing on Monday evening.
Revenue climbed 37 per cent to US$740 million from the previous year. The rise in revenue was due to a 9.9 per cent increase in sales volume and well supported by 24.6 per cent higher average selling prices, it said.
Earnings per share increased to 0.36 US cent from 0.12 US cent in the previous year. Net asset value per share was 32.57 US cents as at Dec 31, against 32.47 US cents three months ago.
Net profit for the three months ended Dec 31, 2016, leapt 197.9 per cent to US$5.4 million from the previous year - more than triple the corresponding quarter last year but lower than US$10.5 million for the last quarter, the group said in a Singapore Exchange filing on Monday evening.
Revenue climbed 37 per cent to US$740 million from the previous year. The rise in revenue was due to a 9.9 per cent increase in sales volume and well supported by 24.6 per cent higher average selling prices, it said.
Earnings per share increased to 0.36 US cent from 0.12 US cent in the previous year. Net asset value per share was 32.57 US cents as at Dec 31, against 32.47 US cents three months ago.