Better margins lead CSE Global to 5.8% rise in Q3 net profit

Net profit for CSE Global rose 5.8 per cent in the third quarter over a year ago to reach $11.4 million, the Singapore-listed technology group said on Wednesday.

This was despite a 6.3 per cent slide in revenue to $122 million over the same period, due to lower takings from its operations in the Americas, Europe and the Middle East.

However, net margins in these regions "improved substantially", due to an increase in more profitable offshore activity in the Americas, CSE said in a filing to the Singapore Exchange.

"With a healthy outstanding order book of $365.4 million at the end of the third quarter, CSE remains confident of an improvement in its overall profitability from operations in 2013 as compared to 2012," the group added.

Earnings per share was 2.21 cents in the quarter, up from 2.09 cents a year ago. Net asset value per share rose to 47.79 cents as at Sep 30, from 42.79 cents at the same time last year.