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Straits Trading’s earnings more than triple to $6.6 mil in 2Q

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Straits Trading’s earnings more than triple to $6.6 mil in 2Q

Jude Chan Published on Fri, Aug 12, 2016 / 7:34 PM GMT+8

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SINGAPORE (Aug 12): The Straits Trading Company reported earnings for 2Q16 more than tripled to $6.6 million from $1.8 million a year ago.

This was partially due to income from fair value changes in financial assets related to mark-to-market gains from marketable securities, which rose to $1.8 million in the second quarter, compared to losses of $4.2 million in 2Q last year.

Revenue in 2Q16 grew 7.8% to $139.5 million in 2Q16, compared to $129.5 million in the corresponding quarter last year.

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