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