Cordlife sinks into the red in 1Q on absence of one-off gains

SINGAPORE (Nov 11): Cordlife Group posted $0.6 million in losses in 1QFY17, reversing from earnings of $7.3 million a year ago due to the absence of one-off fair value gains.

Revenue increased by 0.8% in 1Q17 mainly due to contribution from Stemlife, which became a subsidiary of Cordlife in Dec 2015.

In 1Q16, the group’s disposal of its shares in China Cord Blood Corporation (CCBC) allowed it to record $2.1 million of fair value gains, which was absent in this quarter’s set of financial results.  

---

Related Stories

• Group director of Cordlife resigns to ‘pursue her personal interests’
• CAD arrests Cordlife’s director in connection with potential breaches of disclosure obligations
• Cordlife posts net loss of $11.57 mil for 1QFY2024 due to refund fulfilment

---