Nico Steel Holdings Limited saw its net profit for the fiscal half year ended August 31st 2012 tumble 60% to USD 275,000 from USD 695,000.

The Singapore listed company said that its turnover fell by 28% YoY to USD 19.15 million, mainly due to a drop in sales revenue derived from customized metal alloys.

Gross profit margin was unchanged at 12.7%.

Consequently, earnings per share for the six months were 0.24 cents, down from 0.61 cents a year ago.

Source - Business Times

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