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Katrina posts 97% lower 1H earnings on higher costs and outlet closures, says approaching 'critical mass'

Michelle Zhu
Michelle Zhu8/14/2018 11:24 PM GMT+08  • 2 min read
Katrina posts 97% lower 1H earnings on higher costs and outlet closures, says approaching 'critical mass'
SINGAPORE (Aug 14): Katrina Group announced earnings of $11,000 for the 1H ended June, down 96.7% from $0.3 million in 1H17 earnings a year ago due to higher costs and the closure of non-performing outlets .
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SINGAPORE (Aug 14): Katrina Group announced earnings of $11,000 for the 1H ended June, down 96.7% from $0.3 million in 1H17 earnings a year ago due to higher costs and the closure of non-performing outlets .

Revenue for 1H18 increased by 11.2% to $30.8 million as the group increased its overall outlet count, while its online revenue continued to grow.

Cost of sales however grew by 13.2% to $28.5 million compared to $25.1 million a year ago due to the opening of new outlets, resulting in higher utilities, rental and employee benefit costs.

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