King Wan’s profit plummeted 54% in Q3
On back of lower revenue and sales.
Mainboard-listed integrated building services and mechanical and electrical (M&E) engineering firm King Wan Corporation reported a 54% year-on-year drop in profit for the third quarter.
The group’s profit plunged $1.84m from $3.96m in the same quarter last year. Its revenue fell 14% year-on-year to $21.1m from $24.46m in the same quarter last year.
The decrease was due to lower revenues from Mechanical and Electrical (M&E) contracts.