Avarga swings into Q4 loss on bigger forex loss, absence of one-off gain
Add BT as a preferred sourceAVARGA Ltd, which makes paper, swung into a net loss in the fourth quarter from a year ago, reflected in part higher forex losses.
Net loss for the three months ended Dec 31, 2018 stood at S$3.78 million, reversing from a restated net profit of S$465,000 posted the same period a year ago, it posted on Saturday in a regulatory filing.
The group posted a forex loss of S$4.6 million, against a forex loss of S$2.4 million in the year-ago period. It also had an absence of a S$2.4 million one-off gain on extinguishment of subordinated notes that was recognised in the year-ago quarter.
Revenue was also down 10 per cent from a year ago to S$329 million.
Avarga was formerly known as UPP Holdings.
Share with us your feedback on BT's products and services
TRENDING NOW
Ng Khee Siong, managing director of Borneo Motors parent Inchcape Singapore, resigns
Early payout from Philippines’ Maharlika Investment Fund raises eyebrows over its true nature
Malaysia data centre boom enters ‘reset mode’ as resource, funding realities bite: S&P
Kingsford Group inks deal to buy Tan Boon Liat Building at lower reserve price of S$950m
