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

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

S$4.10 mln


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.)

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