Wonder how's Noble holding up??
April 28, 2010, 6.35 pm (Singapore time)
Straits Asia's Q1 profit down 68%By JAMIE LEE
Straits Asia Resources posted on Wednesday a 68 per cent slump in net profit for the first quarter ended March 31, 2010, as the surge in costs outpaced the increase in revenue.
Net profit for the three months stood at US$11.2 million, compared to US$35.5 million in the same period a year ago, the commodities firm said on Wednesday.
Revenue rose 10 per cent to US$153 million, while cost of sales jumped 68 per cent to US$123 million.
Earnings per share for the quarter stood at 0.99 US cents, down 70 per cent from 3.25 US cents made a year ago.
No dividend was declared for the quarter. The company said that it will now review dividend payout every six months.