Shanghai Turbo narrows FY18 loss to 14m yuan

Singapore

SHANGHAI Turbo Enterprises narrowed its full-year 2018 net loss to 14 million yuan (S$2.8 million) from a restated year-ago loss of 158.1 million yuan as it managed to collect doubtful trade receivables.

Loss per share for the 12 months ended Dec 31, 2018 was 0.51 yuan, a smaller deficit than the loss per share of 5.75 yuan the year before. Shares of Shanghai Turbo, a China-based precision manufacturer, last traded at S$0.99 on Feb 27.