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RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Yoma's profit surges by 1352.5% to $18.8m

Automotive & Heavy Equipment and Consumer businesses contribute 74% to its revenue.

The net profit of Yoma Strategic Holdings Ltd. for the third quarter ended last 31 December (3Q2018) surged to $18.8m, which is a 1352.5% increase year-on-year.

“The increase in net-profit was a result of gains from the disposal of the Group’s tourism related businesses as well as higher revenue from its Automotive & Heavy Equipment and Consumer businesses,” said Yoma Strategic in a media release.

The Automotive & Heavy Equipment and Consumer businesses together contributed 74% to the company’s $24.1m revenue.

“We are pleased with the high growth in our Heavy Equipment, Yoma Fleet Leasing and KFC businesses and expect them to contribute meaningfully to the Group in the coming years,” said Melvyn Pun, CEO of Yoma Strategic.

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