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.