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Y Ventures sinks into the red with US$0.9 mil loss in FY17

Michelle Zhu
Michelle Zhu2/28/2018 09:45 PM GMT+08  • 2 min read
Y Ventures sinks into the red with US$0.9 mil loss in FY17
SINGAPORE (Feb 28): Y Ventures has sunk into the red in FY17 with a loss of US$0.9 million ($1.2 million) compared to a profit of $1.5 million in the previous financial year due to higher administrative expenses.
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SINGAPORE (Feb 28): Y Ventures has sunk into the red in FY17 with a loss of US$0.9 million ($1.2 million) compared to a profit of $1.5 million in the previous financial year due to higher administrative expenses.

This comes despite a 17.4% increase in revenue to US$14.2 million from US$12.1 million a year ago, which was mainly due to higher sales of goods on online marketplaces.

In line with the higher revenue, cost of sales grew 21.8% to US$8.3 million from US$6.8 million from the higher costs of products, logistics, freight and handling charges in tandem with the higher sales of goods.

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