Hafary Holdings Limited reported unaudited group earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenue of SGD 29,702,000 compared to SGD 30,901,000 a year ago. Profit before tax was SGD 3,216,000 compared to SGD 3,060,000 a year ago. Profit, net of tax was SGD 2,709,000 compared to SGD 2,650,000 a year ago. Profit, net of tax attributable to owners of the parent was SGD 2,740,000 or 0.55 cents per basic and diluted share compared to SGD 2,358,000 or 0.64 cents per basic and diluted share a year ago. Net cash flows from operating activities were SGD 2,942,000 compared to net cash flows used in operating activities of SGD 1,190,000 a year ago. Purchase of property, plant and equipment was SGD 9,932,000 compared to SGD 16,704,000 a year ago. The higher profit before income tax for third quarter of 2016 was mainly due to improved in gross profit margin.

For the nine months, the company reported revenue of SGD 78,921,000 compared to SGD 90,324,000 a year ago. Profit before tax was SGD 6,648,000 compared to SGD 9,704,000 a year ago. Profit, net of tax was SGD 5,659,000 compared to SGD 8,417,000 a year ago. Profit, net of tax attributable to owners of the parent was SGD 5,873,000 or 1.36 cents per basic and diluted share compared to SGD 7,618,000 or 1.78 cents per basic and diluted share a year ago. Net cash flows from operating activities were SGD 11,328,000 compared to SGD 2,741,000 a year ago. Purchase of property, plant and equipment was SGD 28,552,000 compared to SGD 18,136,000 a year ago. The lower profit before income tax was largely due to decrease in revenue and increase in employee benefits expenses. Net asset value per ordinary share based on the total number of share in issue 12.4 cents.

For the fifth quarter ended September 30, 2016, the company reported impairment losses of SGD 231,000 compared to SGD 330,000 a year ago.