SINGAPORE: Singapore-listed commodities trader Noble Group Ltd. (N21.SG) on Thursday said it swung to a net loss in the third quarter as a steep fall in revenue hurt its operating income.
Net loss in the three months ended Sept. 30 was $28.1 million, compared with a profit of $24.7 million in the same quarter last year, the company said in a statement to the Singapore Exchange. Revenue fell 38% from a year ago to $11.55 billion.
Group net loss for the nine months to the end of September was $42.5 million, compared with a profit of $193.9 million a year earlier, the company said. Profit from its core business, after excluding the results of businesses that have either been or will soon be discontinued, was $70.1 million in the nine months, it said.
