Global Yellow Pages’ losses narrow to $9.3 mil in FY16

SINGAPORE (Aug 29): Global Yellow Pages (GYP) has reported a net loss of $9.3 million in 12MFY16, an 85.1% improvement from the net loss of $62.4 million reported in 15MFY15.

The current financial year report compares the 12-month period from 1 July 2015 to 30 June 2016 against the 15-month period from 1 April 2014 to 30 June 2015 as the Group had in July 2014 announced the changed of its financial year end to 30 June.

The losses were mainly attributed to a net loss of $5.8 million from discontinued operations of Singapore River Explorer, compared to a marginal net profit in 15MFY15, due to the impairment of assets of $5.6 million.

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