Operating profit dipped slightly from $4 million to $3.9 million, but the company saw a higher net profit figure of $4.7 million, a 42.5% jump compared to the $3.3 million a year before.
This was mainly due to a higher net foreign exchange gain of $1.6 million in 3QFY2022 compared to a gain of S$0.5 million in 3QFY2021, as Fu Yu revealed that it is in a net US Dollar assets position, and the appreciation of the US Dollar against the Singapore Dollar, Malaysia Ringgit and Renminbi in resulted in a higher net foreign exchange gain
Fu Yu Corp reports lower revenue for 3QFY22, but net profit increases by 42.5%
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