Corrected: Singapore's NSL HY sales rise but profit hit by impairment charge
CORRECTED-Singapore's NSL HY sales rise but profit hit by impairment charge Corrects to H2, from H1, in table
Overview
Singapore industrial solutions provider's half-year sales rose yr/yr, net income declined
Gross profit margin held steady at 21% for the half-year period
Impairment loss mainly attributable to the industrial wastewater business; higher distribution costs mainly attributed to precast business in Malaysia
Outlook
Company did not provide specific guidance or outlook for future periods
Result Drivers
PRECAST SALES GROWTH – H1 turnover rose 39% as higher Singapore and Malaysia precast sales lifted Precast & PBU profit before tax 123%
IMPAIRMENT LOSSES - A S$6.5 mln impairment on industrial wastewater assets, amid continued losses and challenging markets, widened Environmental Services losses
HIGHER TAX and COSTS - Tax expense more than tripled due to prior-year underprovision and use of Environmental Services capital-allowance reserves; Increased distribution costs were mainly attributed to Malaysia precast business
Company press release: ID:nSNb2r4x
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H2 Sales |
| S$226.5 mln |
|
H2 Net Income Attributable |
| S$12.9 mln |
|
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(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.)