Published:
Vibrant Group's net profit slipped 14.8% to $7.8m in Q3
On back of fair value loss.
Vibrant Group reported that its net profit slipped 14.8% year-on-year to $7.8m in the third quarter, mainly due to fair value loss on marketable securities as compared to the fair value gain on marketable securities in the same period last year.
The group also booked higher administrative expenses, mainly due to general and administrative expenses incurred in several property development and upgrading projects while revenue contribution is not expected until the completion of these projects.
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