Home Capital Results

Neo Group sinks into the red in 2Q on absence of one-off gain

Michelle Zhu
Michelle Zhu11/10/2017 6:39 PM GMT+08  • 2 min read
Neo Group sinks into the red in 2Q on absence of one-off gain
SINGAPORE (Nov 10): Neo Group reported a loss of $0.5 million for 2Q17/18 compared to earnings of $3 million a year ago in 2Q16/17.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Nov 10): Neo Group reported a loss of $0.5 million for 2Q17/18 compared to earnings of $3 million a year ago in 2Q16/17.

The catering group says this was largely due to the absence of a $1.82 million one-off gain on the disposal of assets classified as ‘held for sale’ in 2Q16/17.

Revenue for the quarter grew 27.5% to $45.3 million from $35.5 million previously on higher revenue from the group’s Supplies and Trading business, which increased significantly after registering contributions from Neo Group’s recently-acquired subsidiaries, U-Market Place Enterprise and Hi-Q Plastic Industries.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.