Sinostar PEC reports Lower Attributable Profit in Q3; Shares Slump 6%

MT Newswires

2024/11/15

Sinostar PEC's (SGX:C9Q) net profit attributable to equity holders plunged to 18.9 million yuan in the third quarter of the year, from 190.6 million yuan a year earlier, according to a filing with the Singapore Exchange on Thursday.

Earnings per share came in at 0.0295 yuan from 0.2978 yuan in the year-ago period.

The petrochemical producer and supplier's revenue was down 25% year over year to 1.13 billion yuan from 1.50 billion yuan, mainly due to decreased sales of premium grade polypropylene.

Shares of the company slumped nearly 6% in recent trading.

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