Sinwa Limited reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported revenue of SGD 42,257,000, profit before income tax of SGD 2,791,000, profit attributable to owners of the company of SGD 2,333,000, net cash from operating activities of SGD 6,618,000, purchase of property, plant and equipment of SGD 452,000, compared to revenue of SGD 44,102,000, profit before income tax of SGD 2,079,000, profit attributable to owners of the company of SGD 1,720,000, net cash used in operating activities of SGD 122,000, purchase of property, plant and equipment of SGD 408,000, for the same period a year ago. Basic and diluted earnings per ordinary share were 0.68 cents against 0.50 cents a year ago.

For the year to date, the company reported revenue of SGD 131,531,000, profit before income tax of SGD 8,827,000, profit attributable to owners of the company of SGD 7,420,000, net cash from operating activities of SGD 13,125,000, purchase of property, plant and equipment of SGD 915,000, compared to revenue of SGD 128,306,000, profit before income tax of SGD 7,645,000, profit attributable to owners of the company of SGD 6,063,000, net cash from operating activities of SGD 3,125,000, purchase of property, plant and equipment of SGD 1,408,000, for the same period a year ago. Basic and diluted earnings per ordinary share were 2.18 cents against 1.78 cents a year ago. The increase in total revenue was mainly attributed to higher sales from Australia and Thailand. Net cash from operations increased, due to higher operating profit and improved debtor turnover days.

For the quarter, the company reported property, plant and equipment written off of SGD 6,000.

The company provided financial guidance for 2018. Despite these challenging operating conditions, the Group is confident that the company is on course for another profitable year ahead.