GRP Suffers 70% Dive In FY15 Net Profit

GRP reported FY15 net profit was down 69.5 percent from $2.8 million last year, to a mere $0.8 million due to lower revenue and higher expenses.

Revenue reported a dip of 9.6 percent to $24.5 million due to decline in contribution from the hose and marine as well as uPVC fittings segments, which were partially offset by better performance in measuring instrument segment.

Coupled with a 28.7 percent leap in administrative expenses to $6.5 million, profitability was dealt with a heavy blow for FY15.

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