Qian Hu Corp bounces back from hard year, reports full year net profit of $302,000
ORNAMENTAL fish breeder Qian Hu Corp is bouncing back from the doldrums with an encouraging result in the fourth quarter after a difficult year.
Earnings for the three months to Dec 31 came in at $69,000, reversing a loss of $49,000 for the same period a year earlier. Revenue climbed 8.7 per cent to $21.6 million over the same period.
It was a similar story for the full year with net profit of $302,000, turning around a net loss of $9.14 million.
But revenue slipped 1.2 per cent to $83.5 million due to an oversupply of the dragon fish that depressed prices.