CWT revenue rises 52% in Q3 but net profits fall on higher costs

Revenue at Singapore-listed logistics firm CWT surged 52 per cent in the third quarter over the same quarter last year to $2.2 billion, the company said on Wednesday.

The rise was largely due to strong growth in CWT's commodity supply chain management business.

But net profit fell 53 per cent to $19.2 million in the period, due mainly to an increase in administrative expenses and finance costs.

Earnings per share for three months ended Sept 30 was 3.18 cents, down from 6.71 cents in the corresponding period last year.

Net asset value was 104.6 cents, up from 97.1 cents as of Dec 31.