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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