Qian Hu ekes out small profit in Q3, reversing from big loss previously

Ornamental fish distributor Qian Hu Corp has just about returned to the black.

It reported a net profit of $88,000 for the third quarter, reversing from a loss of $10.1 million in the same period last year.

Revenue for the three months to Sept 30 fell by 5.5 per cent to $20.5 million.

There was improvement in the sales of Dragon Fish in China. This was, however, offset by lower sales of ornamental fish.

Earnings per share amounted to 0.02 cent compared to loss of 2.23 cents previously while net asset value per share slipped to 11.76 cents from 11.92 cents as at Dec 31.

Following the sale of subsidiary Kim Kang, the directors have recommended the payment of a special dividend of half a cent a share, which will be paid on Nov 21.