However, cost of sales increased 58.7% to US$62.5 million as raw material costs and manufacturing expenses increased in tandem with higher revenue. This led to 51.5% higher gross profit of US$8.61 million.
There was a 19.4% increase in business development expenses to US$1.28 million and 41.6% increase in general and administrative expenses to US$2.1 million due to higher staff costs and administrative expenses.
The weakening of USD against SGD and RMB also resulted in a foreign exchange loss of US$0.35 million in 3Q18.
As a result of higher profit, income tax expenses incurred was US$0.91 million compared to US$0.53 million in the third quarter of the previous year.
Shares in PCI closed at 79 cents on Thursday.
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