Lifebrandz's FY16 losses narrow

SINGAPORE (Sept 28): Lifebrandz, the Irish pub operator which is diversifying into goldmining, saw losses from continuing operations narrow slightly to $1.1 million in FY16 from $1.2 million in FY15.

(See also: Lifebrandz posts narrower 3Q losses)

Full year revenue fell 19% to $1.02 million due to slower F&B sales activities from Mulligan’s which saw a decline in tourist patronage, affected by the economic and weather conditions, according to the company. Total expenses also dropped 14% to $2.13 million due to effective effort in reducing and controlling spending.

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