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Singapore eDevelopment 1H losses widen to $6.3 mil

PC Lee
PC Lee8/10/2017 8:18 PM GMT+08  • 2 min read
Singapore eDevelopment 1H losses widen to $6.3 mil
SINGAPORE (Aug 10): Property group Singapore eDevelopment reported half year losses widened to $6.3 million from $5.3 million a year ago.
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SINGAPORE (Aug 10): Property group Singapore eDevelopment reported half year losses widened to $6.3 million from $5.3 million a year ago.

Revenue for the 1H17 ended June surged to $6.2 million from $0.9 million but cost of sales rose more steeply to $5.2 million. This resulted in gross profit of $988,000 from $179,000 a year ago.

Administrative expenses increased to $4.2 million in 1H17 from $3.0 million in 1H16 mainly due to additional expenses of $1.1 million associated with the network marketing business which commenced in 1H17.

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