AGV posts $0.6 mil earnings for FY16, down 72% on year

SINGAPORE (Nov 28): Newly-listed AGV Group, also known as Asia Galvanizing, posted $600,000 in earnings for FY16, a drop of 72.2% from FY15 earnings of $2.2 million.

The company was listed on the Catalist in August.

The drop in earnings was due mainly to increase in consumables used and sold, employee benefits and costs related to the public listing, waste disposal, upkeep of equipment and a one-off loss on derivative financial instruments.

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