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.
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