SUTL swings back to profitability in 3Q, thanks to divestment gain from Achieva Tech

SINGAPORE (Nov 17): SUTL Enterprise, the operator and owner of ONE°15 Marina Club in Sentosa, posted 3Q16 earnings of $0.5 million, compared to a loss of $1.2 million a year ago.

The improvement was largely attributable to the divestment of the group’s legacy IT peripherals distribution business, following the disposal of its 51% remaining stake in Achieva Technology in January.

Excluding net attributable loss from discontinued operations in Achieva in the previous year, SUTL Enterprise says net attributable profit would have risen 8% in 3Q16, in line with the increase in total revenue to $6.4 million.

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