SINGAPORE (Aug 10): Aspial Group, the property grou and jewellery retailer, has swung to a loss of $1.6 million in 1H16 from a profit of $1.6 million in 1H15.
The real estate business recorded a pre-tax loss of $2.4 million compared to pre-tax profit of $2.5 million for 1H15. This was mainly due to lower gross margin for the revenue booked for Waterfront @Faber and The Hillford projects in 1H16.
The jewellery business also reported a pre-tax loss of $1.8 million compared to pre-tax profit of $0.6 million in 1H15. The loss was mainly due to lower gross profit as gold sales had contributed a larger proportion to the overall revenue.