Chemical Industries (Far East) reports full-year net profit down 30.2%

SINGAPORE - Industrial chemical supplier Chemical Industries (Far East) reported full-year net profit slumped 30.2 per cent to $8.9 million.

Revenue dropped 25.8 per cent to $58.1 million for the 12 months ended Mar 31, compared with the same period last year, as some customers had stopped doing business with the firm.

Full-year earnings per share was 11.67 cents, compared with 16.73 cents a year earlier, while net asset value per share was $1.34 as at March 31, compared with $1.42 as at March 31 last year.