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Jubilee Industries Holdings registers wider net loss for 2HFY2022 despite 32.4% growth in revenue

Khairani Afifi Noordin
Khairani Afifi Noordin5/30/2022 09:55 PM GMT+08  • 3 min read
Jubilee Industries Holdings registers wider net loss for 2HFY2022 despite 32.4% growth in revenue
Jubilee Industries Holdings has posted a net loss after tax of $4.8 million for the 2HFY2022 ended March 31. Photo: Jubilee
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Catalist-listed Jubilee Industries Holdings has posted a net loss after tax of $4.8 million for the 2HFY2022 ended March 31, as compared to a net loss after tax of $1.9 million on 2HFY2021.

This is mainly due to the fair value loss of the company’s investment in shares of Malaysian electronic manufacturing services company EG Industries Bhd, the company said in a results statement.

In FY2022, Jubilee incurred a loss of $2.2 million against a loss of $1.6 million in FY2021, arising from a fair valuation gain of $2.7 million netted off by losses on partial disposal and deemed disposal of its investments in shares of EG Industries amounting to $4.3 million.

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