Disposal gain puts Transcu in the black

Nisha Ramchandani
Published Tue, May 27, 2014 · 10:00 PM
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TRANSCU Group reported a net profit of US$4.53 million for the financial year ended March 31, 2014, swinging into the black from a loss of US$64 million previously, as the bottom line was boosted by a US$15.9 million gain on disposal of subsidiaries.

No revenue was recorded in FY14 - versus a revenue of US$6.41 million in the previous financial year - as the results of its Japanese subsidiaries were included in discontinued operations. Had revenue from the cosmetics business been reported in operations, total revenue for the first 10 months of FY14 would have been US$2.9 million, as cosmetics sales in Japan continue to fall.

Earnings per share worked out to 0.09 US cent versus a loss per share of 1.95 US cents previously.

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