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GP Industries reverses out of the red in 4Q; says diverting manufacturing out of China

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GP Industries reverses out of the red in 4Q; says diverting manufacturing out of China

PC Lee Published on Wed, May 29, 2019 / 7:46 AM GMT+8

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SINGAPORE (May 29): Battery manufacturer GP Industries posted 4Q earnings of $2.33 million, reversing from the a year ago loss of $7 million.

This was a smaller exchange loss of $113,000, compared to a loss of $4.79 million a year ago ago as the US dollar strengthened against the Chinese yuan.

Correspondingly, earnings per share for 4Q was 0.48 cent, compared with a loss per share of 1.45 cents a year ago.