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Blumont sinks deeper into losses of $10.2 million in 1Q

Gho Chee Yuan Published on Thu, May 14, 2015 / 6:48 PM GMT+8

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SINGAPORE (May 14): Blumont Group’s losses for the first quarter ended March 31, 2015 (1QFY15) widened to $10.24 million from $5.87 million last year.

Revenue for the quarter fell 7% $901,000 from $968,000.

In a filing with SGX today, Blumont said it suffered a net fair value loss on financial assets of $3.5 million compared to $2.7 million last year.

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