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Sakae sinks into the red in 2Q as sales fall amid business streamlining

PC Lee
PC Lee2/12/2019 04:58 PM GMT+08  • 1 min read
Sakae sinks into the red in 2Q as sales fall amid business streamlining
SINGAPORE (Feb 12): F&B group Sakae Holdings reversed into a loss of $0.55 million in 2Q19 ended Dec, from earnings of $0.99 million the year before.
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SINGAPORE (Feb 12): F&B group Sakae Holdings reversed into a loss of $0.55 million in 2Q19 ended Dec, from earnings of $0.99 million the year before.

The negative bottomline followed a streamlining of operations by Sakae, which resulted in a 39.6% fall in revenue to $11.2 million although cost of sales and labour costs fell accordingly.

Streamlining of group operations also led to reductions in administrative expenses by 22.4% to $5.4 million. Labour costs decreased 14% to $4.3 million. Other administrative expenses including depreciation charges and other expenses also declined. Other operating expenses decreased by 3.2% to $2.7 million in 2Q19.

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