Geo Energy Resources' Profit Declines 55% in Q3

MT Newswires

11/14

Geo Energy Resources' (SGX:RE4) profit declined by 55% in the third quarter to $3.2 million from $7.0 million a year earlier, according to a Friday filing with the Singapore Exchange.

Earnings per share dropped to SG$0.0034 compared with SG$0.0068 in the comparable period.

Revenue was up 62% year over year to $136.6 million from $84.3 million, mainly due to higher sales volume.

Shares of the company were down over 2% at the close of trading on Friday.

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