SINGAPORE (April 25): Sunningdale Tech's earnings almost halved to $3.6 million in the first quarter ended March 31, 2016, from $7.1 million a year ago.

This was despite the company's gross profit margin growing to 13.6%.

The manufacturer of precision plastic components says it suffered foreign exchange losses amounting to $3.2 million during the quarter.

Revenue grew 4.4% to $161.3 million from $154.5 million previously, driven by an increase in orders from existing customers and new projects.

Sunningdale says it intends to enhance operational efficiencies by improving the capacity utilisation rates of its manufacturing facilities.

The company says it will conduct a restructuring exercise at its plant in southern China, located at Zhongshan.

Shares of Sunningdale ended down four cents or 3.3% at $1.19.