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Singapore firms' profit margins yet to recover despite strong revenue: survey

02-10-2012 13:29 BJT

SINGAPORE, Feb. 10 (Xinhua) -- The revenue of Singapore's top 1, 000 firms in the 12-month period that ended mid-2011 surged by 26 percent year on year, but their profit margins obviously lagged behind the recovery in revenue, a latest survey has found.

The survey by consultancy DP information found that the revenue of these firms grew by 26 percent to 1.98 trillion Singapore dollars (1.58 trillion U.S. dollars) in the period covered by the survey, showing that the sales rebounded strongly from the lows in the economic downturn, local daily Lianhe Zaobao reported on Friday.

However, their profit margins were at 6.98 percent, down by 2. 24 percentage points from that in the previous 12-month period. They were also lower than the profit margins of 8.17 before the global financial crisis.

"Singapore's biggest companies are making money, but not at the same rate they were three years ago," said Chen Yew Nah, managing director of DP Information Group.

Chen said the better revenue performance has resulted in a dramatic drop in the number of companies trading at a loss. Only 80 of the top 1,000 firms recorded a loss in the survey this year, compared with 138 last year.

The survey based on financial information for the period between mid-2010 and mid-2011 also revealed the full extent of the impact of the financial crisis.

The number of companies from the financial sector in the top 1, 000 list dropped to 33 now from 65 when the financial crisis hit.

There are now 180 manufacturing companies on the list this year, down 21 percent from the 229 at the beginning of 2009. Within the manufacturing sector, the number of electronics and electrical companies dropped from 82 to 64.

Editor:Zhang Rui |Source: Xinhua

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