Liang Huat's Q1 net profit down 23% on increased competition, lower margins

SINGAPORE: Mainboard-listed Liang Huat Aluminum has reported a 23 per cent on-year fall in net profit in the first quarter this year to S$1.8 million.

The company said the fall is due to increased competition in the industry and lower profit margins.

Revenue grew 19 per cent to S$10.8 million on back of cost control efforts and lower expenses.

The company said total expenses fell to S$857,000 in the three months ended March, versus S$939,000 in the same period last year.

The group said its gross order book stands at S$71.1 million.