PEC records 27% decline in Q4 net profit amid challenging year
Published on Aug 27, 2014 10:03 PM
SINGAPORE - Engineering group PEC recorded a 27 per cent decline in fourth quarter net profit to $3.7 million, while revenue for the period fell 16 per cent to $122.5 million.
For the full year ended June 30, the company's net profit slid 26 per cent to $9 million, partly due to an increase in expenses.
Full-year revenue slid 19 per cent to $439.7 million.
Group chief executive Robert Dompeling said it had been "another challenging year, with little relief from rising costs and keen competition".
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