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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