YuuZoo Q2 profit rockets to S$14.3m

STRONG growth in e-commence and franchise sales has supercharged YuuZoo's second-quarter results.

Net profit rocketed to S$14.3 million from S$1.3 million a year ago, the group said in a Singapore Exchange filing on Wednesday evening.

For the three months ended June 30, revenue more than tripled to S$35.8 million from the previous year. The gain in revenue was due partly to a 307 per cent jump in e-commerce revenue from S$4.6 million for Q2 2015 to S$18.7 million for Q2 2016, it added.

Earnings per share jumped to 2.1 Singapore cents, from 0.21 cent previously. Net asset value per share went up to 18.64 cents as at June 30, from 15.16 cents as at six months earlier.

No dividend was proposed. YuuZoo shares closed 2.63 per cent down at S$0.148 on Wednesday.