Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • Bitcoin USD

    64,115.88
    +789.75 (+1.25%)
     

  • CMC Crypto 200

    1,383.26
    +70.64 (+5.38%)
     

  • S&P 500

    4,958.55
    -52.57 (-1.05%)
     

  • Dow

    37,935.63
    +160.25 (+0.42%)
     

  • Nasdaq

    15,243.45
    -358.05 (-2.30%)
     

  • Gold

    2,408.40
    +10.40 (+0.43%)
     

  • Crude Oil

    83.25
    +0.52 (+0.63%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Cosmosteel FY15 Earnings Plunge Amid Lacklustre Demand

Shares Investment

Cosmosteel Holdings reported net loss of $0.9 million for FY15, a massive plunge from the net profit of $5.5 million last year, as well as a 30.3 percent decline in revenue received from a lacklustre global economy.

Revenue decreased to $109.9 million (FY14: $157.6 million) from reductions in contributions from both customers in the Energy and Marine Sector. An increase in cost of sales due to additional services such as logistics handling provided to customers also resulted in gross profit margin decreasing 2.1 percentage points to 18.0 percent.



More From Shares Investment: