Vibrant Group’s net profit down 42% to $3.5m in Q2

Due to lower contribution from freight and logistics.

Vibrant Group reported that its net profit dropped 42% year-on-year to $3.5m in the second quarter, dragged by lower contributions from its freight and logistics business.

Its revenue dropped 6.3% year-on-year to $47.1m.

The gross profit margin in 2Q2016 improved to 31.7% from 29.6% in the previous corresponding quarter as a result of lower cost of sales in logistics operations.

The profit from operations decreased by 26.4% to $4.5 million in 2Q2016 and 24.4% to $10.4 million in 1H2016 due mainly to lower revenue and loss in fair value on embedded derivative of convertible bond.

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!