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Explosives maker Fabchem China fizzles out in losses as demand wanes

Published on May 30, 2014 9:08 PM

SINGAPORE - Explosives maker Fabchem China has been rocked by a net loss of 57.5 million yuan (S$11.5 million).

The mainboard-listed had posted a profit of 31.5 million yuan last year.

Revenue for the year ended March 31 fell by 19.6 per cent to 393 million yuan.

What hurt the bottomline the most was a 60 million yuan impairment loss on plant and equipment related to its ammonium nitrate business.

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