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Top Global's 3Q losses widen to $1.5 mil on currency translation losses

Michelle Zhu
Michelle Zhu11/10/2017 06:21 PM GMT+08  • 2 min read
Top Global's 3Q losses widen to $1.5 mil on currency translation losses
SINGAPORE (Nov 10): Top Global, the property developer and hospitality and facility manager, has announced a loss of $1.5 million for 3Q17 compared to its loss of $0.1 million in the same period a year ago, due to other losses incurred over the quarter on
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SINGAPORE (Nov 10): Top Global, the property developer and hospitality and facility manager, has announced a loss of $1.5 million for 3Q17 compared to its loss of $0.1 million in the same period a year ago, due to other losses incurred over the quarter on forex losses.

Revenue grew 27% to $51.6 million from $40.5 million in the previous year on higher contributions from its Property Development and Hospitality segments due to the bulks sale of dual-key units in the Braddell project, and the consolidation of 5Footway Founders and its subsidiaries, respectively.

However, due lower average selling prices of larger units sold in the Braddell project, gross profit for 3Q decreased 12% to $7.1 million from $8 million a year ago, and gross profit margin fell accordingly.

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