AsiaPhos Continues its Growth Momentum in 3Q2015

9th November 2015, AsiaPhos

• Gross profit margin increased to 18%, from 16% previously, on the back of a reduction in mining levy and lower production costs
• Excluding one-off non-cash accounting expense of 2.4 million, operations continued to record higher revenues, higher profits and increased cash flows.

AsiaPhos Limited (“AsiaPhos” and together with its subsidiaries, the “Group”), a Singapore-headquartered mineral resources company focused on exploring and mining phosphate with a vertically-integrated business model, reported higher revenue, gross profit and operating cash flows for the quarter ended 30 September 2015 (“3Q2015”)

However, the bottom line was affected by the recognition of a non-recurring accounting charge of $2.4 million, which was in compliance with FRS103 Business Combinations, upon completion of the acquisition of LY Resources Pte Ltd

To read the full announcement, please click here. 

To view the Financial Statements, please click here.