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UTILITIES | Staff Reporter, Singapore

GS Holdings raises the alarm for net loss in FY15

Raised costs, tight labour market are a thorn in its side.

Battered by mounting headwinds, GS Holdings has raised the alarm for net loss in FY15.

According to the company’s announcement, Singapore’s labour crunch is not doing GS Holdings earnings any favours.

In addition, the company saw a spike in operational staffing on back of the increase in business volume and anticipation of new contracts to be signed in 2016. This is on top of the targeted operational date of GS Holdings’ new centralised commercial dishware washing facilities at IMM and Big Box in 4Q14, as well as the new facility to be set up at 8 Loyang Way 4.

Lastly, GS Holdings saw an increase in headcount for its management and professional staff to support the business’ growth. 

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