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Nam Lee Pressed Metal posts 27% fall in FY16 earnings to $9.1 mil on lower sales

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Nam Lee Pressed Metal posts 27% fall in FY16 earnings to $9.1 mil on lower sales

PC Lee Published on Tue, Nov 29, 2016 / 10:09 PM GMT+8

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SINGAPORE (Nov 29): Nam Lee Pressed Metal Industries registered a 27.4% fall in FY16 earnings to $9.3 million from $12.9 million a year ago, dragged down by poorer sales.

For the 12 months ended Sept, revenue fell 21.1% to $129.4 million mainly due to lower revenue from the aluminium segment in 4Q16.

Cost of sales fell 21.0% to $101.4 million.