20th Sep 2019 14:02
(Alliance News) - Singapore-based Feng Shui products maker New Trend Lifestyle Group PLC on Friday reported a sharply narrowed interim loss and improved revenue performance.
For the six months to June 30, the London-listed company recorded a pretax loss of SGD314,000, or GBP182,615, compared with a SGD1.1 million loss in the year-ago period.
The narrowed loss was due revenue improving to SGD3.1 million from SGD2.5 million while administrative costs fell to SGD2.7 million from SGD3.0 million.
New Trend said trading conditions in Singapore remain challenging, but the company remains hopeful of continuation of improvement in sales throughout the remainder of the year.
On its acquisition strategy, New Trend said it has not made any any progress as it was focused on improving sales performance. However, the company remains on the look-out for suitable and complementary businesses.
New Trend added that it expects to record year-on-year improvement in 2019 results.
Shares were untraded at 0.50 pence each in London on Friday afternoon.
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