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Aspial reverses into half-year loss of $1.6 mil

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Aspial reverses into half-year loss of $1.6 mil

PC Lee Published on Wed, Aug 10, 2016 / 10:45 PM GMT+8

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SINGAPORE (Aug 10): Aspial Group, the property grou and jewellery retailer, has swung to a loss of $1.6 million in 1H16 from a profit of $1.6 million in 1H15.

The real estate business recorded a pre-tax loss of $2.4 million compared to pre-tax profit of $2.5 million for 1H15. This was mainly due to lower gross margin for the revenue booked for Waterfront @Faber and The Hillford projects in 1H16.

The jewellery business also reported a pre-tax loss of $1.8 million compared to pre-tax profit of $0.6 million in 1H15. The loss was mainly due to lower gross profit as gold sales had contributed a larger proportion to the overall revenue.