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Cordlife sinks into the red in 1Q on absence of one-off gains

Michelle Zhu
Michelle Zhu11/11/2016 06:43 PM GMT+08  • 1 min read
Cordlife sinks into the red in 1Q on absence of one-off gains
SINGAPORE (Nov 11): Cordlife Group posted $0.6 million in losses in 1QFY17, reversing from earnings of $7.3 million a year ago due to the absence of one-off fair value gains.
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SINGAPORE (Nov 11): Cordlife Group posted $0.6 million in losses in 1QFY17, reversing from earnings of $7.3 million a year ago due to the absence of one-off fair value gains.

Revenue increased by 0.8% in 1Q17 mainly due to contribution from Stemlife, which became a subsidiary of Cordlife in Dec 2015.

In 1Q16, the group’s disposal of its shares in China Cord Blood Corporation (CCBC) allowed it to record $2.1 million of fair value gains, which was absent in this quarter’s set of financial results.

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