Home Capital Results

Thakral reports 93% fall in FY16 earnings to $0.4 mil in FY16

PC Lee
PC Lee2/28/2017 07:20 PM GMT+08  • 2 min read
Thakral reports 93% fall in FY16 earnings to $0.4 mil in FY16
SINGAPORE (Feb 28): Thakral Corporation reported a 93% fall in FY16 earnings to $0.4 million compared to earnings of $6.1 million in FY15 which was boosted by an unrealised valuation gain of $9.9 million mainly from its warehouse properties in Hong Kong.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Feb 28): Thakral Corporation reported a 93% fall in FY16 earnings to $0.4 million compared to earnings of $6.1 million in FY15 which was boosted by an unrealised valuation gain of $9.9 million mainly from its warehouse properties in Hong Kong.

The group reported a net profit before tax of $4.2 million on revenue of $214.9 million in FY16. The group’s gross profit rose to $45.2 million, up 37% from $33.1 million the previous year. Gross profit margin doubled to 21% from a year ago.

Overall group turnover for FY16 was lower by 35% from $331.3 million a year ago. This was due to a 42% reduction in sales to $178.6 million in the group’s lifestyle division. The division had started moving away from certain low margin business during the year and had also faced supply constraints for certain mobility products from 3Q16.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.