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Soo Kee Group reports 49.5% rise in 4Q earnings to $4.6 mil on higher sales from subsidiary

PC Lee
PC Lee2/28/2018 06:44 PM GMT+08  • 1 min read
Soo Kee Group reports 49.5% rise in 4Q earnings to $4.6 mil on higher sales from subsidiary
SINGAPORE (Feb 28): Jeweller Soo Kee Group reported a 49.5% rise in 4Q earnings to $4.6 million to $3 million a year ago.
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SINGAPORE (Feb 28): Jeweller Soo Kee Group reported a 49.5% rise in 4Q earnings to $4.6 million to $3 million a year ago.

Revenue for 4Q17 doubled to $114.2 million from $54.7 million lifted by higher sales from its subsidiary, SK Bullion of $60.98 million respectively.

Material costs more than doubled to $96.50 million due to a more than proportionate increase in material costs as compared to the increase in revenue in the respective periods was mainly due to the change in product mix.

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