Hi-P International posts 26% rise in 3Q earnings to $30.7 mil on lower expenses, improved efficiencies

SINGAPORE (Nov 3): As previously guided, Hi-P International’s 3Q16 earnings have risen to $30.7 million, 26.3% up from a year ago due to “improved manufacturing efficiencies”.

To recap, the manufacturer of precision injection moulds last month issued a revised profit guidance announcement saying it expected to report a higher profit for 3Q due to “tighter cost controls, improvement in production efficiency and higher sales”, instead of a lower profit as guided in August this year.

(See also: Hi-P International guides for higher, not lower, 3Q profits)

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