Thakral Corp posts S$358,000 loss for Q1
Mainboard-listed Thakral Corp reported a net loss of S$358,000 for the three months ended March 31, 2015, compared to a profit of S$172,000 a year ago.
Revenue was 56 per cent lower at S$79.82 million due to the group's strategic shift away from the distribution of lower margin, fast moving consumer goods. Loss per share was 0.01 Singapore cent in Q1FY15, versus earnings per share of 0.01 cent in the corresponding quarter a year ago.
During the quarter, gross profit increased 15 per cent to S$7.3 million, thanks to the improved performance of its investment division. Gross profit margin also improved to 9.2 per cent, up from 3.6 per cent a year ago.
Natarajan Subramaniam, independent non-executive chairman of Thakral said: "Going forward, Australia's real estate sector is predicted to stay positive in view of the prevailing low interest rate environment. Our investment division will continue to participate in real estate projects in Australia and build on the growth it has enjoyed, whilst establishing new platforms in other asset classes and funds management (and) exploring new opportunities in Asia."
Despite slower economic growth in China, consumption growth remains positive, he pointed out. "We will step up our efforts to scout for new brands and products to enlarge our customer base with the aim of returning to profitability in due course."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Singapore shares open in the red on Tuesday; STI down 0.3%
Huawei’s pivotal role in the US-China tech war, from 5G to chips
CDL Hospitality Trusts reports 6.8% higher Q1 net property income of S$34.9 million
Starhill Global Reit posts 0.9% lower Q3 net property income of S$37.7 million
Binance and CZ ’s fortunes are set to grow, jail or no jail
Stocks to watch: Wilmar, MLT, FEHT, CDLHT, Starhill Global Reit, IReit Global