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SINGAPORE : Mainboard-listed Fabchem China on Tuesday said its third-quarter net profit fell 14.9 per cent to about 12.2 million yuan or around US$1.7 million from a year ago.
However, revenue for the three months ended December rose 7.1 per cent to around US$11.8 million.
Fabchem said the improvement in sales was mainly due to increased marketing efforts and revenue contribution from an ammonium nitrate business acquired in 2008.
Sales in China continued to be Fabchem's main revenue contributor, with overseas markets accounting for the remaining 14.5 per cent, notably with the maiden contribution from Indonesia in November last year.
Going forward, it said the improved economic conditions are leading the group into exploring new opportunities, such as a direct sales contract with two Australian firms.
This will enable the firm to sell directly to its customers without the need of a separate export agent, thus reducing agent fees expenses. - CNA/ms
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