SINGAPORE: Singapore-listed Multi-Chem said its third quarter net profit rose 28 per cent to S$1.8 million.

The increase came despite a marginal 3 per cent dip in revenue for the three months ended September to S$39.3 million.

Multi-Chem said weaker sales were due to lower demand for manufacturing services outsourcing, but this was offset by an increase in the group's distribution business.

Looking ahead, the firm said there has been an improvement in the manufacturing outlook, with its revenue rising 19.1 per cent quarter-on-quarter.

The firm also said that this may be an indication that the electronics downtrend is bottoming out after the sharp decline in the fourth quarter of 2008.

- CNA/sc