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GK Goh S$298,000 in the red in Q3

Wednesday, November 12, 2014 - 20:36
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GK Goh Holdings suffered a S$298,000 net loss in the third quarter, pushed into the red by non-controlling interests and higher costs and expenses after accounting for recent acquisitions.

GK Goh Holdings suffered a S$298,000 net loss in the third quarter, pushed into the red by non-controlling interests and higher costs and expenses after accounting for recent acquisitions.

GK Goh, which owns a futures and foreign-exchange brokerage among its diversified investment holdings, posted a net loss of 0.09 Singapore cents per share for the three months to September, compared to a year-ago profit of 0.26 cents per share, or S$813,000.

The company would have remained in the black if minority interests had not taken S$424,000 from the bottom line. There was no minority interest effect a year ago.

The latest quarter included the consolidation of corporate services company Boardroom, which became an 81 per cent subsidiary in March 2014 as opposed to a 33 per cent associate in 2013. That increased both the revenue as well as costs and expenses reported in the current period.

On an operating level, the third-quarter saw a S$91,000 loss, compared to a year-ago S$731,000 profit.

Shares of GK Goh were not traded on Wednesday. They last changed hands at 87 Singapore cents on Tuesday.

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