Revenue for 1Q fell 6.4% to $35 million from $37.4 million in 1Q17 due to lower sales the Integral Cement and Ready-Mix Concrete business as well as our Specialty Polymer business when the plant in Singapore was largely transferred to a joint venture in China.
In its outlook, Engro says it remains cautiously optimistic that its Integral Cement and Ready-Mix Concrete business would benefit from a turnaround in the construction sector.
Shares in the group closed 0.5% higher at 94 cents on Wednesday.
