Profit at Freight Links Express more than doubles to $8.7 million

Freight Links Express Holdings has posted a 129.1 per cent rise in third quarter net profit to $8.7 million.

Revenue for the three months ended Jan 31 was up 16.9 per cent at $43.1 million.

The higher profit was mainly due to gain in fair value of marketable securities, higher dividend income from Sabana REIT and interest income from investment in associate despite lower gain on foreign exchange.

Fair value gain on marketable securities for the quarter was $2.4 million, reversing from a loss of $2.5 million in the same period last year.

Earnings per share climbed to 0.36 cent from 0.17 cent previously while net asset value per share firmed to 8.65 cents compared to 7.99 cents as of April 30, last year.

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