SINGAPORE (Nov 29): No Signboard Holdings reversed into a full-year loss of $2.3 million from earnings of $7.7 million a year ago due an underperforming beer business subsidiary -- Danish Breweries.
As a result, the group recorded an impairment of goodwill and intangible assets of $4.3 million. There was also an IPO expense of $1.1 million.
Impacted by the beer business, total raw materials and consumables used and changes in inventories increased to $9.0 million in FY18. Employee benefits expense also increased 53.3% to $8.5 million. Other operating expenses and finance costs also increased to $3.8 million and $0.7 million respectively.