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Neo Group’s 2Q earnings surge to $3 mil

PC Lee
PC Lee11/11/2016 08:13 AM GMT+08  • 2 min read
Neo Group’s 2Q earnings surge to $3 mil
SINGAPORE (Nov 11): Neo Group, the food caterer, saw 2Q earnings surge more than 40-fold to $2.9 million from $0.07 million a year ago, thanks to a one-time gain on disposal which amounted to $1.8 million.
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SINGAPORE (Nov 11): Neo Group, the food caterer, saw 2Q earnings surge more than 40-fold to $2.9 million from $0.07 million a year ago, thanks to a one-time gain on disposal which amounted to $1.8 million.

Removing the impact of the gain, the group reported an operational profit of $1.1 million, turning around from an operational loss recorded in the preceding quarter.

In the three months to Sept, revenue rose 13.4% to $35.5 million from $31.3 million a year ago. Food catering business revenue decreased 1.6% to $15.5 due to fewer event celebrations during this period compared to the prior corresponding period when there were nationwide SG50 celebrations.

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