SINGAPORE: Singapore-listed manufacturer of chemical-based products Changtian Plastic & Chemical said on Monday that its net profit in the third quarter fell by 27.5 per cent on-year.

Profit for the period ended in September stood at 38.2 million yuan or about S$7.8 million.

The firm said challenging market conditions led to a decrease in customers' orders and lower selling prices for its adhesive tapes and release papers.

But it added that its revenue and profit have both tripled on a sequential basis when compared to the previous quarter.

Going forward, Changtian noted that the global financial environment has started to recover, with market demand for its product showing a strong rebound.

It expects the overall operating environment to improve continually in the future.


- CNA/so