Asiatic Group's profit down 11.32% to $0.92m

Blame the higher cost of sales.

Asiatic Group Holdings' profit from operations decreased 11.32% YoY to $0.92m in 1H2018.

According to its financial statement, cost of sales rose 1.69% YoY to $12m in 1H2018 due to higher direct operating expenses.

Revenue also declined by 4.89% YoY to $18.59m in 1H2018 due to a decrease in revenue contributions from fire-fighting and protection segment in light of depressing market conditions for the marine and oil gas industries.

The company also registered a $0.3m foreign exchange loss for the financial period following a weakening of the US dollar.

   

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Strides Premier enhances routing with Autofleet tech
The Singaporean taxi operator will utilise Autofleet’s platform to improve route planning and dispatching.
RGE and Singapore Fashion Council launch ‘Responsible Fashion Scholarship’
It is open for Singaporean citizens or permanent residents in full-time undergraduate or postgraduate programs at recognized institutions.
HR & Education