Cordlife's full-year profit down 60% despite higher revenue

Singapore

CORDLIFE Group on Friday posted a 59.8 per cent drop in net profit to S$13 million for its fiscal year ended June 30, 2016. This was a drop from S$32.5 million a year ago.

Revenue rose 3.5 per cent to S$59.6 million in FY2016, mainly due to more client deliveries, partly as a result of the consolidation of StemLife as a subsidiary in December 2015.