Qian Hu posts 87.7% fall in H1 profit on higher costs

[SINGAPORE] Mainboard-listed integrated fish service provider Qian Hu on Friday (Jul 18) reported a net profit of S$30,729 for its first half ended June, 87.7 per cent down from S$250,532 in the year-ago period.

This translated to an earnings per share of S$0.0003, down from S$0.0022.

The group attributed the lower profit to global economic uncertainty, rising operational costs and continued geopolitical challenges.

Revenue stood largely unchanged at S$35.1 million, as compared to S$35.2 million previously.

The group said that there would be no interim dividend for the half-year period as it intends to conserve cash.

The counter ended Friday flat at S$0.151, before the announcement.