Published:
Popular Holdings reports net loss of $52,000
Here's what to blame.
According to OSK, Popular holdings made a net loss of SGD52,000 in its fiscal second quarter as compared to a net profit of SGD1.73m a year ago despite a rise in revenue of 12.5% aided by higher revenue from its property, retail and distribution and publishing and e-learning divisions.
Here's more:
Cost of sales increased by 14.7% to SGD117.4m and profit from operations dived 76.4% mainly due to higher expenses like distribution and selling expenses because of a higher number of book fairs and increased advertising and promotion expenditure from the Gadgets & Write fair.
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