CSC Holdings is back in the black with small gain in Q4
Published on May 27, 2014 6:42 PM
SINGAPORE - CSC Holdings eked out a net profit of $533,000 in the fourth quarter, reversing from a loss of $6.1 million in the same period last year.
Revenue for the three months to March 31 fell by 13.4 per cent to $111.2 million, in tandem with the slowdown in the overall demand for construction services.
The restrictions on the export of granite by Indonesia led to a disruption in the supply of ready-mixed concrete, and contributed to lower business activity levels and revenue during the quarter.
Property cooling measures introduced in Singapore last year weighed down on demand for the group's foundation works in the second half of its financial year as construction demand for the private residential sector moderated.
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