Abterra Q2 net loss widens to S$1.39m on revenue slide

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Abterra Q2 net loss widens to S$1.39m on revenue slide.

MAINBOARD-LISTED mineral and resources company Abterra saw a net loss of S$1.39 million for the second quarter ended June 30, widening from a year-ago loss of S$611,000, it announced on Wednesday.

This came on the back of revenue plunging 84 per cent to S$9.76 million, down from S$61.1 million in the year-ago period. The fall in revenue was mainly due to a decrease in coke and coal prices, said Abterra. Its revenue for the period came mainly from its 51-per-cent-owned China unit Tianjin Belong Faith Energy Minerals Co.

With the latest quarter's figures, profit attributable to owners was S$162,000 for the first half of the year, reversing from a loss of S$383,000 in the year-ago period.Loss per share for the second quarter was 0.47 Singapore cent, compared with 0.21 cent a year ago.

 

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