, Singapore

Plastoform rakes in $1.6m profit for Q3

Its revenue surged 72.3%.

Mainboard-listed PlastoForm Holdings Limited today announced that it has achieved a turnaround in net profit for the third quarter, mainly on the back of robust revenue growth and a higher gross margin.

Profit after tax hit $1.6m (HK$9.7m) in 3Q, a turnaround from a loss of $1.43m (HK$8.6m) in the same period last year.

Group revenue rose 72.3% to $24.09m (HK$144.8m) from $14m (HK$84m) over the same period. Gross margin increased to 22.0% in 3Q 2014 from 6.5% in 3Q 2013. 

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