Singapore's Lion Asiapac Q1 revenue drops on lower roofing solutions supply

Overview

• Singapore industrial firm's Q1 revenue fell 49% yr/yr to S$4.1 mln

• Company returned to net profit after prior-year loss

• Expenses for goods and materials dropped 53% yr/yr

Outlook

• Lion Asiapac did not provide specific financial guidance or commentary on future outlook

Result Drivers

• LOWER TRADING AND ROOFING ACTIVITY – Revenue fell 49%, primarily due to lower trading orders and reduced supply of roofing solutions

• LOWER INTEREST AND FX INCOME – Other income declined mainly on lower interest income and the absence of foreign-exchange translation gains, partly offset by receivables impairment reversals

• SUPPLIER PAYMENTS – Operating cash outflow of S$1.1 mln mainly reflected payments to suppliers, partly offset by customer billings for contracted projects

Company press release:

Key Details

Reuters Recommended Reads

• Oct 29 - Singapore's Sheng Siong Q3 revenue rises 6.2% on store expansion

• Oct 29 - Singapore's Keppel nine-month profit jumps on infra boost

• Oct 29 - Singapore's Mapletree Pan Asia Commercial Trust Q2 revenue falls

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)