Teckwah Industrial Corporation Ltd. announced unaudited group earnings results for third quarter and nine months ended September 30, 2017. For the quarter, the company reported revenue of SGD 45,865,000 compared to SGD 47,029,000 a year ago. Operating profit before income tax, non-controlling interests and extraordinary items but after interest on borrowings, depreciation and amortisation, foreign exchange loss and exceptional items was SGD 3,421,000 compared to SGD 5,883,000 a year ago. Operating profit before income tax was SGD 3,492,000 compared to SGD 5,948,000 a year ago. Profit for the period attributable to owners of the company was SGD 2,150,000 or 0.92 cents per fully diluted share compared to SGD 4,605,000 or 1.97 cents per fully diluted share a year ago. Net cash from operating activities was SGD 2,704,000 compared to SGD 12,123,000 a year ago. Purchase of property, plant and equipment was SGD 2,567,000 compared to SGD 600,000 a year ago.

For the nine months, the company reported revenue of SGD 135,421,000 compared to SGD 132,853,000 a year ago. Operating profit before income tax, non-controlling interests and extraordinary items but after interest on borrowings, depreciation and amortisation, foreign exchange loss and exceptional items was SGD 13,353,000 compared to SGD 14,383,000 a year ago. Operating profit before income tax was SGD 13,565,000 compared to SGD 14,563,000 a year ago. Profit for the period attributable to owners of the company was SGD 9,150,000 or 3.92 cents per fully diluted share compared to SGD 10,311,000 or 4.41 cents per fully diluted share a year ago. Net cash from operating activities was SGD 6,562,000 compared to SGD 23,133,000 a year ago. This decrease was mainly attributed to the paying down of trade and other payables from the completion of the one-time warehouse storage and distribution project and extended customers' credit terms. Purchase of property, plant and equipment was SGD 4,502,000 compared to SGD 1,901,000 a year ago. The Group's operating profit before tax for the nine months ended 30 September 2017 decreased by 6.9% mainly due to unfavorable foreign exchange fluctuations. Net asset value per ordinary share based on issued share capital at the end of the period was 64.67 cents compared to 63.02 cents reported at the end of December 2016.

Barring any unforeseen circumstances, the directors expect the Group to remain profitable for fiscal year 2017.