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Singapore Kitchen Equipment sinks deeper into the red with 1Q18 loss of $0.9 mil

Michelle Zhu
Michelle Zhu6/22/2018 07:36 AM GMT+08  • 2 min read
Singapore Kitchen Equipment sinks deeper into the red with 1Q18 loss of $0.9 mil
SINGAPORE (June 22): Singapore Kitchen Equipment (SKE) reported losses doubled to $0.9 million for 1Q18 from $0.45 million a year ago on higher costs and expenses. 
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SINGAPORE (June 22): Singapore Kitchen Equipment (SKE) reported losses doubled to $0.9 million for 1Q18 from $0.45 million a year ago on higher costs and expenses.

Revenue for the quarter grew 43.6% to $6.9 million from $4.8 million in 1Q17 mainly due to higher sales generated from fabrication and distribution for tenders, and higher maintenance and service income.

Cost of sales rose 50.7% to $4.9 million from $3.3 million in the previous year, caused by higher cost of equipment and staff-related costs which the group attributes to expansion of sales and production teams as well as the changes in product mix, leading to increased sales of equipment of lower margin.

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