Photo by Tony the Misfit
Sinomem reports Q3-2009 net profit of S$5.1mn and 9 month net profit of S$15.8mn up 54% from the same period in 2008
Monday, 16 November, 2009 10:15 AM
Posted by Kevin Scully
Sinomem reported its Q3-2009 results last Friday with revenue higher by 26% to S$31.7mn and net profit up by 263% to S$5.1mn. With 9 month net profit at S$15.8mn, the Company is comfortably ontrack to meet my FY2009 forecasts of S$20mn. Gross cash is now S$89mn from S$67mn following the placement of new shares at S$0.62 which are more than enough to redeem its convertible notes of S$57mn. Read more…
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