Sinopipe Holdings posts narrower loss in Q3

Singapore-listed Sinopipe Holdings, which manufactures and installs plastic pipes and pipe fittings, has reported a loss of 21.3 million yuan (S$4.4 million) for the third quarter ended Sep 30.

This is narrower than its 22.5 million yuan loss in the same period last year, the company said.

It comes on the back of a fall in revenue in the third quarter to 212.4 million yuan, 6.7 per cent lower than in the same time the previous year.

The decline in revenue was due to lower sales from the company's water supply, drainage and sewerage and fuel gas segments, Sinopipe said.

This was partially offset by higher sales from its telecommunication and electrical and water-saving irrigation segments.

The company posted a loss per share for the quarter of 7.39 fen, down from 8.07 fen a year ago.

Net asset value per share was -39.7 fen as at Sep 30, from -11.8 fen as at Dec 31.