Rising operating costs and legal fees and shrinking profit margins have led F&B group Sakae Holdings to report a net loss of $5.8 million for FY15 from a profit of $2.1 million a year ago.
Revenue fell 1.8% to $96 million, dragged down by weaker market demand and heavy competition in the F&B scene in Singapore.
Its operations in Malaysia were also affected by a weakened ringgit and goods and service tax, as well as increasing political instability which lowered sales in the country.
The group also incurred higher legal fees over an ongoing case involving its associate companies Griffin Real Estate Investment and Gryphon Capital Management.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
Revenue fell 1.8% to $96 million, dragged down by weaker market demand and heavy competition in the F&B scene in Singapore.
Its operations in Malaysia were also affected by a weakened ringgit and goods and service tax, as well as increasing political instability which lowered sales in the country.
The group also incurred higher legal fees over an ongoing case involving its associate companies Griffin Real Estate Investment and Gryphon Capital Management.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment