Mewah International Returns To The Black With Net Profit Of US$3.3 Million For 1H15

Mewah International reported a 1H15 net profit of US$3.3 million as compared to a loss of US$7.2 million in the corresponding period last year.

Despite a 2 percent increase in sales volume to 1,897,000 metric tonnes from 1,860,100 metric tonnes, average selling prices were lower by 19 percent resulting in a 17.4 percent decline in revenue to US$1.4 billion.

Cost of sales decreased by 20.3 percent in line with the lower revenue, boosting gross profit by 38.9 percent, which consequently helped the firm turn the corner.

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