Global Yellow Pages posted a net loss of $30,000 in 3Q16 compared to earnings of $0.4 million in 3Q15 on absence of share of results of associated companies.
Excluding the $1.5 million income for the share of results of Yamada Green Resources which has since been reclassified as available-for-sale financial asset, the group says 3Q16 would have seen a ”significant improvement in operating results compared to the adjusted net loss of $1.1 million in 3Q15”.
3Q16 revenue grew 63.0% to $7.6 million, bringing 9M16 revenue to $28.3 million, some 30.1% higher than the $21.8 million posted in 9M15.
Earnings for 9M16 increased 10.9% to $4.6 million from $4.2 million in 9M15 as a result.
The increase in revenue was due mainly to rental income from Pakuranga Plaza shopping mall in Auckland and full quarter revenue contributions after the acquisition of SAPL Group on 1 January 2016.
SAPL Group is the master franchisee and supply chain business of the Wendy’s brand of ice-cream and treats for the Wendy’s store network consisting of over 150 stores in Australia and New Zealand.
This was offset partially by the discontinuation of revenue from Singapore River Tour & Taxi Services at the end of the year.
While the business environment remains “challenging”, the group says it will “continue its efforts to improve its search business and its digital offerings”.
“Against the current uncertain economic landscape, the Group’s strategy to diversify into property and food & beverage businesses is gaining traction contributing to increase revenue and profit,” said Global Yellow Pages, which specialises in the sale of advertising space, and the publishing of telephone and industry directories.
Global Yellow Pages closed 1.46% lower at 13.5 cents.
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Excluding the $1.5 million income for the share of results of Yamada Green Resources which has since been reclassified as available-for-sale financial asset, the group says 3Q16 would have seen a ”significant improvement in operating results compared to the adjusted net loss of $1.1 million in 3Q15”.
3Q16 revenue grew 63.0% to $7.6 million, bringing 9M16 revenue to $28.3 million, some 30.1% higher than the $21.8 million posted in 9M15.
Earnings for 9M16 increased 10.9% to $4.6 million from $4.2 million in 9M15 as a result.
The increase in revenue was due mainly to rental income from Pakuranga Plaza shopping mall in Auckland and full quarter revenue contributions after the acquisition of SAPL Group on 1 January 2016.
SAPL Group is the master franchisee and supply chain business of the Wendy’s brand of ice-cream and treats for the Wendy’s store network consisting of over 150 stores in Australia and New Zealand.
This was offset partially by the discontinuation of revenue from Singapore River Tour & Taxi Services at the end of the year.
While the business environment remains “challenging”, the group says it will “continue its efforts to improve its search business and its digital offerings”.
“Against the current uncertain economic landscape, the Group’s strategy to diversify into property and food & beverage businesses is gaining traction contributing to increase revenue and profit,” said Global Yellow Pages, which specialises in the sale of advertising space, and the publishing of telephone and industry directories.
Global Yellow Pages closed 1.46% lower at 13.5 cents.
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
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