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Slowdown in Australia drags Tat Hong's Q3 net profit 32% lower

Published on Feb 13, 2014 9:27 PM

Construction crane supplier Tat Hong Holdings today reported a 32 per cent decline in third-quarter net profit to $12.1 million.

Revenue for the three months to Dec 31 slumped by 19 per cent to $167.4 million, as all divisions with the exception of the tower crane rental division turned in weaker performances.

Gross profit fell 24 per cent to $56.3 million, representing a gross profit margin of 33.6 per cent compared with 35.9 per cent achieved a year earlier.

All divisions posted lower margins except the general equipment rental division in Australia where the margin held stable.

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