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Sakae swings back to profitability with 1Q earnings of $0.3 mil on lower expenses

Stanislaus Jude Chan
Stanislaus Jude Chan5/14/2018 06:33 PM GMT+08  • 1 min read
Sakae swings back to profitability with 1Q earnings of $0.3 mil on lower expenses
SINGAPORE (May 14): Sakae Holdings reversed out of the red with earnings of $0.3 million for the 1Q ended March on the back of lower expenses, compared to losses of $1.3 million a year ago.
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SINGAPORE (May 14): Sakae Holdings reversed out of the red with earnings of $0.3 million for the 1Q ended March on the back of lower expenses, compared to losses of $1.3 million a year ago.

1Q18 revenue fell 28.5% to $12.3 million, from $17.3 million a year ago.

This was mainly due to a continuing rationalisation exercise on non-performing outlets in Singapore, coupled with streamlining of group operations, which resulted in lower revenue.

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