Triyards Holdings swings to Q3 loss, shares fall

Fall in profits due to impairment of assets, lower revenue contribution and cost overruns from certain projects.

• By Aastha Agnihotri
  July 21, 2017 13:06 +08

• Engineering company Triyards Holdings shares fell as much as 7 percent on Friday to S$0.149

• Losses after tax at US$63.3 million for three months ended May 31 compared to a profit of US$4.1 million

• Fall in profits due to impairment of assets, lower revenue contribution and cost overruns from certain projects: company statement

• Q3 revenue fell 62 percent to US$30.9 million

• "In the absence of a positive catalytic industry development, we expect the next twelve months to be a challenging period for the industry as a whole and also the Group," Chief Executive Officer Chan Eng Yew said in the statement