YuuZoo cuts FY16 profit by 60% after audit's delayed completion

Singapore

YUUZOO Corp is cutting its reported 2016 net profit by 60 per cent and posting a loss for 2015 after the delayed completion of its annual audit.

The social commerce company, however, has received an opinion from auditor RT that the audited numbers are properly drawn up, true and fair, according to its annual report published on Wednesday.

YuuZoo's previous auditor, Moore Stephens, had declined t…