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SINGAPORE: Mainboard-listed manufacturer Broadway Industrial said its third quarter profit more than tripled on-year to S$8.7 million.
It said the good performance was mainly driven by continued efforts to reduce manufacturing cost and improve its operational efficiency. It has done so through the automation of its production facilities.
The increase in profit was also due to a one-off foreign exchange gain of S$1.8 million.
Going forward, the firm said it will continue to focus its business development efforts on the higher-margin non-hard disk drive segment. It will also grow its market share for the foam plastics division.
Broadway Industrial expects its net profit this year to be current than the previous year, adding that it remains optimistic about its 2010 performance. - CNA/vm
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