A-Sonic Aerospace sinks deeper into losses in 2Q

SINGAPORE (Aug 12): A-Sonic Aerospace saw 2Q losses widened to US$789,000 ($1.1 million) from US$706,000 a year ago.

For the half-year period though, net losses halved to $1.05 million even as total revenue fell 18.6% to US$84.5 million.

Revenue for the quarter to June fell 12.8% to US$44.5 million on the back of lower business volumes in its aviation business, and lower freight rates in its largest segment, the logistics business.

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