IPS Securex posts wider $0.3 mil loss on revenue decline, higher expenses

SINGAPORE (May 8): Security solutions provider IPS Securex reported 3Q ended March loss widened to $0.3 million from $0.2 million a year ago on lower revenue and higher expenses.

Revenue for 3Q fell 12.9% to $2 million compared to $2.2 million a year ago as revenue contributions from both segments declined.

This came largely due to a lower demand for security products and integrated security solutions from the Security Solutions business, as well as a delay in the commencement of a maintenance contract in the case of the Maintenance & Leasing business.

Lifebrandz 2Q losses widen 18% to $0.6 mil on higher sales activities, business expansion

SINGAPORE (Mar 14): Lifebrandz saw its losses in 2Q widen 18% to $0.6 million from $0.5 million a year ago, mainly due to an increase in total expenses which the group attributes to higher sales activities and business expansion.

Clearbridge Health posts smaller 3Q loss of $2.5 mil

SINGAPORE (Nov 12): Clearbridge Health recorded a loss of $2.5 million for the 3Q ended Sept, 21.4% smaller than its net loss of $3.2 million a year ago on higher revenue derived from its newly-commenced businesses.

Revenue for the quarter was $2.05 million compared to just $0.1 million in 3Q17, upon recording contributions from Clearbridge’s medical clinics/centres in Singapore and Hong Kong, which commenced operations in July 2017.

Creative Tech sinks into 1Q losses in absence of patent settlement gains

SINGAPORE (Oct 31): Creative Technology reported a loss of US$6.1 million ($8.5 million) for the 1Q ended Sept (1Q19), reversing into the red from its earnings of US$22.8 million in 1Q18 in the absence of other gains recorded in the latter period.

While Creative booked other gains of US$32 million in 1Q18 largely due to a US$31.2 million received from the settlement of patent lawsuits as well as US$0.6 mil in foreign exchange gains, these contributions were absent from the latest quarter.

Spackman sinks deeper into the red in 2Q with $2.1 mil loss

SINGAPORE (Aug 15): Spackman Entertainment Group reported a loss of US$1.5 million ($2.1 million) for the 2Q ended June, widening from its 2Q17 loss of US$0.2 million on lower revenue and higher general & administrative expenses.

This brings the group to a loss of US$0.6 million for 1H18, compared to earnings of US$5.2 million a year ago.

Revenue for the latest quarter fell 32% on-year to US$1.7 million from US$2.4 million previously due to lower contributions from the production of films.

Yoma sinks into the red in 1Q19 with $15.9 mil loss despite revenue growth

SINGAPORE (July 24): Yoma Strategic Holdings reported a loss of $15.9 million for 1Q19 compared to earnings of $2.8 million a year ago on higher finance expenses, lower other income, as well as greater share of losses of joint ventures and associated companies.

Revenue for the quarter grew 13.9% to $29.4 million from $25.8 million previously, with high contributions across all three of its core land, F&B and financial services businesses, thus helping to offset a slower performance in Yoma’s motors business.

Singapore Kitchen Equipment sinks deeper into the red with 1Q18 loss of $0.9 mil

SINGAPORE (June 22): Singapore Kitchen Equipment (SKE) reported losses doubled to $0.9 million for 1Q18 from $0.45 million a year ago on higher costs and expenses. 

Revenue for the quarter grew 43.6% to $6.9 million from $4.8 million in 1Q17 mainly due to higher sales generated from fabrication and distribution for tenders, and higher maintenance and service income.

Gaylin's FY18 loss widens to $51.6 mil on inventory provisioning

SINGAPORE (May 28): Gaylin Holdings, the specialist provider of products, services and solutions to the oil & gas (O&G) and maritime industries, saw 4Q losses widen to $44.4 million from a loss of $6.2 million a year ago due to higher provision for slow-moving and aged inventory.

The latest set of quarterly results brings the group to a full year loss of $51.6 million as compared to its FY17 loss of $11.4 million, in line with Gaylin’s management guidance announced earlier in March this year.

China Kangda sinks into the red with $3.3 mil full-year loss on higher chicken mortality

SINGAPORE (Mar 29): China Kangda Food Company posted a FY17 loss of RMB15.8 million ($3.3 million) compared to earnings of RMB6.3 million a year ago. 

In a Wednesday filing, the group attributes the full-year loss largely to higher mortality rates of chicken resulting from bad weather, as well as higher administrative costs.

The loss comes even as revenue remained steady at around RMB1.3 billion when compared to a year ago, with a 5.8% increase in sales turnover and higher gross profit margin to 8.3% from 8% previously.

Starburst swings back into the black with FY17 earnings of $0.1 mil

SINGAPORE (Mar 1): Starburst Holdings, the firearms-training facilities provider, swung back into profitability in FY17 with earnings of $0.1 million compared to a loss of $11.7 million in FY16.

This was due to improved margins and a significant decline in project and production costs.

Revenue declined 13.3% to $15.9 million in FY17 from $18.3 million in FY16, due to the lower contributions from projects undertaken in the full year under review.

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