Ipco International's Q3 earnings dive 96.5%

SINGAPORE - Investment holding firm Ipco International reported on Friday that third quarter net profit fell 96.5 per cent to $1.5 million.

Turnover rose rose 24.5 per cent to $10.4 million, for the three months to Jan 31.

The firm, which has been linked to firms involved in 2013's penny stock crash, said the improved turnover was owing to its units.

ESA Electronics which operates in the semiconductor industry, for instance, recorded a 48.2 per cent increase in third quarter turnover to $1.4 million, compared with a year ago, as there was higher demand for burn-in boards by semi-conductor manufacturers in the current quarter.

Net asset value per share was two cents as at Jan 31, unchanged from April 30.

Ipco shares closed flat at half a cent on Friday.