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Sincap swings back to profitability in FY17 on higher revenue, one-off gain on disposal

Stanislaus Jude Chan
Stanislaus Jude Chan3/1/2018 07:28 PM GMT+08  • 2 min read
Sincap swings back to profitability in FY17 on higher revenue, one-off gain on disposal
SINGAPORE (Mar 1): Sincap Group reported earnings of RMB 41.1 million ($8.6 million) for the FY17 ended December, compared to losses of RMB 6.8 million a year ago.
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SINGAPORE (Mar 1): Sincap Group reported earnings of RMB 41.1 million ($8.6 million) for the FY17 ended December, compared to losses of RMB 6.8 million a year ago.

This was mainly due to higher revenue from continuing operations, as well as a one-off gain on disposal of the China subsidiaries, the Beijing Raffles Group, in FY17.

Revenue from continuing operations jumped 40% to RMB 306.7 million in FY17, from RMB 219.2 million a year ago.

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