SP Corp sees half-year loss as commodity business woes persist
Loss due to lower revenue and profit contribution from the commodities trading business.
- Industrial group SP Corp said it expects to report a loss for the second quarter and half year ended June 30, 2017
- Loss due to lower revenue and profit contribution from the commodities trading business, and higher losses incurred by the tyre distribution business: company statement
- Commodities trading business contributes nearly 90 percent to group revenue
- SP Corp reported a loss after tax of $0.3 million for the first quarter ended March 31
- Shares of the company were up 0.7 percent to S$0.735 at 0416 GMT on the Singapore Exchange