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Oceanus Group's 1HFY2021 earnings surge 459% to $4.5 mil

The Editor
The Editor8/12/2021 06:03 PM GMT+08  • 1 min read
Oceanus Group's 1HFY2021 earnings surge 459% to $4.5 mil
The company is waiting for results of its application to exit the Watch List
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Oceanus Group has reported earnings of $4.5 million for 1HFY2021 ended June 30, a surge of 459% over the same period last year.

Revenue in the same period was up 553% y-o-y to a record $52.5 million, with the bulk of the turnover contributed by its fast-growing distribution business of fast-moving consumer goods.

See also: Oceanus receives approval for further extension to meet financial exit criteria by April

From just $7.5 million in 1HFY2020, this business segment generated sales of $50.8 million for 1HFY2021.

Oceanus Group’s other business, such as so-called services, enjoyed better numbers too, with $1.3 million in turnover recorded, up from just $0.2 million.

The company notes that on April 13, it has submitted an application to the Singapore Exchange to exit the Watch-List. It will “make necessary announcements to update shareholders as to the results of its application.”

For more stories about where the money flows, click here for our Capital section

Oceanus Group shares closed Aug 12 at 3.7 cents, up 2.78% for the day and up 23.33% year to date.

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